Israel-based cybersecurity startup GuardKnox recently announced a $21 million raise in Series A capital. The company focuses on security solutions for automotive apps and platforms. Fraser McCombs Capital led the round, with participation from Faurecia, Shanghai Automotive’s SAIC Capital, Glory Ventures, NextLeap Ventures, VectoIQ, Plug and Play, Allied, Cybertech and Kardan LTD.
Since its inception in 2016, GuardKnox has raised $24 million, with co-founder and CEO Moshe Shlisel describing plans to use this funding to grow the company’s research and development team and scale strategically.
“The automotive industry is experiencing massive disruption from emerging technologies,” said Shlisel 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.”
GuardKnox’s Secure Network Orchestrator (SNO) offers end-to-end cybersecurity support for cars’ control systems. “We are solving a critical industry pain point and believe our approach to high-performance hardware architecture … is the best way for companies to ensure the safety of their connected and autonomous vehicles,” explained Shlisel.
“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.”
As car makers race to lead the autotech industry, they’re fueling the demand for automotive cybersecurity solutions, and GuardKnox’s investors recognize this as an opportunity they don't want to miss.
“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 at Fraser McCombs Capital. “FM Capital is proud to partner with the dynamic GuardKnox team delivering transformative cybersecurity solutions for the auto industry.”