Israel-based in-vehicle cybersecurity technology developer GuardKnox has raised $21m in a series A round that featured automotive components maker Faurecia, car manufacturer SAIC Motor and real estate developer Kardan.
Investment firm Fraser McCombs Capital led the round, which also featured Allied Group, a joint venture of carmaker Skoda and automobile importer Champion Motors, as well as carparking ticketing technology company Cyphertech.
Glory Ventures, VectoIQ, Plug and Play and NextLeap Ventures also took part, as did several private investors. SAIC Motor participated through its corporate venturing arm SAIC Capital.
Founded in 2016, GuardKnox has developed a platform that combines software and hardware to help protect connected vehicle drivers against malicious cyber-attacks.
In addition to expanding the research and development team, the company will be use the funding to drive international expansion efforts and launch subsidiaries in unspecified, strategic locations.
The round increased the company’s overall funding to $24m, it said, though details about previous funding has not been disclosed.
Mark Norman, managing partner at Fraser McCombs Capital, said: “With connected services available in a majority of new cars and trucks, the ability to secure vehicles and user information will soon redefine automotive brands and insurance. FM Capital is proud to partner with the dynamic GuardKnox team delivering transformative cyber security solutions for the auto industry.”