Karamba Security, a Hod Hasharon, Israel-based world leader in endpoint protection for connected devices, announced it secured $10 million in new funding in an extension to its B Round financing. This brings the total capital invested in Karamba Security to $27 million.
The round was led by VinFast, a member of Vingroup, the largest private conglomerate in Vietnam, with participation from SVIC, a leading corporate VC from South Korea, and existing investors: YL Ventures, Fontinalis Partners, Liberty Mutual, Presidio Ventures, Glenrock, Paladin Group and Asgent.
The company will use the new funding to accelerate the development of its product roadmap to meet customer demands to comply with newly created regulations such as UN R155 and ISO 21434 for automotive cybersecurity and the U.S. Executive Order on Improving the Nation’s Cybersecurity.
Company: Karamba Security Ltd.
Raised: $10.0M
Round: Series B
Funding Month: December 2021
Lead Investors: VinFast
Additional Investors: SVIC, YL Ventures, Fontinalis Partners, Liberty Mutual, Presidio Ventures, Glenrock, Paladin Group and Asgent
Company Website: https://www.karambasecurity.com/
Software Category: Cybersecurity solutions
About the Company: Karamba Security is the world leader in endpoint protection for connected devices, Karamba Security is an industry-leading automotive and IoT security company providing cybersecurity solutions that secure the devices' entire lifecycle without the interference of R&D or supply chain processes. Connected device manufacturers in automotive, renewable energy, enterprise edge, and IoT rely on Karamba’s products and services to seamlessly protect their connected devices against cyberattacks. With more than 80 successful engagements with Fortune 500 companies, connected device providers trust Karamba’s award-winning solutions for compliance and brand competitiveness when protecting their customers against cyber threats.
Source: https://www.businesswire.com/news/home/20211202005470/en/