Guardknox, an Israeli connected car cybersecurity startup, announced the completion of a $21 million Series A funding round, bringing its total capital raised to $ 24 million. The round was led by Fraser McCombs Capital with the participation of automotive technology leader Faurecia, SAIC Capital (Shanghai Automotive), Glory Ventures, NextLeap Ventures, VectoIQ, Plug and Play, Allied, Cyphertech, and Kardan LTD.
Guardknox was founded in 2016 by Israel Air Force veterans Moshe Shlisel (CEO), Dionis Teshler (CTO), and Idan Nadav (VP R&D). The company says it adapts core values and methodologies from the Air Force to protect the automotive industry and its customers from critical cybersecurity threats. Guardknox’s technology draws on cybersecurity approaches used in jets, analyzing every message entering a vehicle’s network with a zero-trust methodology and immediately rejecting all that is not specifically designated as acceptable.
The company said the funding will be used to expand its R&D team and support its global expansion, opening subsidiaries in strategic locations.
“The automotive industry is experiencing massive disruption from emerging technologies,” said Moshe Shlisel, CEO and co-founder of GuardKnox, in a statement. “Paired with increasing customer expectations, companies are under immense pressure to meet client needs and desires for added services, while also providing security solutions that keep pace with passenger safety and data security as well as the ever-changing regulatory environment. We are solving a critical industry pain point and believe our approach to high-performance hardware architecture and secured ECU’s is the best way for companies to ensure the safety of their connected and autonomous vehicles.”
“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,” said Mark Norman, Managing Partner for Fraser McCombs Capital. “FM Capital is proud to partner with the dynamic GuardKnox team delivering transformative cybersecurity solutions for the auto industry.”