Cybellum, an Israeli cybersecurity startup focussing on risk in the automotive industry, has raised a $12 million Series A round led by RSBG Ventures with participation from existing investors Blumberg Capital and Target Global.
Founded in 2018, the company aims to secure the automotive supply chain with technology that exposes all the software vulnerabilities in a vehicle’s different components. The Cybellum platform monitors ‘every strand of code’ for its exposure to risk, enabling manufacturers to take action before anything goes wrong.
“Our mission is to help automotive manufacturers effectively assess and mitigate the real threat in their products, and the completion of our funding is perfectly timed to meet the growing demand for our risk assessment platform,” said CEO Slava Bronfman.
According to a press release, Cybellum already partners with ten manufacturers and suppliers in the US, Europe, Japan and China. Just a few weeks ago, the company entered into a partnership with the Renault-Nissan-Mitsubishi’s Innovation Lab to bring its first solution to market.
Bronfman also commented on what’s next for the technology: “Recently, we’ve seen a need for our solution in other industries that also face the challenges underlying embedded components, like industrial IOT, medical equipment, aviation and others.”
The fresh funding will help the Tel Aviv-based company scope out such industries and expand within automotive. The sales, marketing and engineering teams are set to grow, as well.