Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Karamba Security Raises $10 Million for Inorganic Growth

Karamba Security, a firm that specializes in cybersecurity solutions for autonomous and connected cars, on Tuesday announced that it has raised another $10 million, bringing the total raised to date to $27 million.

Karamba Security, a firm that specializes in cybersecurity solutions for autonomous and connected cars, on Tuesday announced that it has raised another $10 million, bringing the total raised to date to $27 million.

The latest funding round was led by Silicon Valley-based venture debt firm Western Technology Investment (WTI), which claims to have provided more than $5 billion of growth capital to companies in the past 38 years.

Karamba Security raises $10 million

Karamba plans on using the newly obtained funds for inorganic growth, specifically to acquire companies and technology that will help accelerate the progress of its portfolio. The money will also be used to address the growing demand for its products, the firm said.

“Our ongoing operations are well funded from the previous $17 million raised last year. This new funding provides a line of capital we can use as needed for inorganic growth to expand Karamba’s solutions suite across the rapidly evolving automotive landscape,” said Karamba CEO Ami Dotan.

Since its launch in April 2016, Karamba Security says it has engaged with 17 automotive OEMs and tier-1 suppliers to help them secure their products. The company’s technology has been integrated with ARM, Intel, PowerPC, and Infineon chips, along with QNX, Linux and various RTOS and AUTOSAR platforms on the operating system level.

Related: Upstream Security Raises $9 Million to Protect Connected Cars Through the Cloud

Related: Volkswagen, Israeli Experts Launch Automotive Security Firm

Related: Symantec Wants to Protect Your Car From Zero-Day Attacks

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

IoT Security

Lexmark warns of a remote code execution (RCE) vulnerability impacting over 120 printer models, for which PoC code has been published.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.