Security Experts:

Connect with us

Hi, what are you looking for?


Cybersecurity Funding

Karamba Security Raises $10 Million to Protect Connected Devices

Another $10 million has been raised by Karamba Security, an Israel-based company that provides products and services for securing industrial, automotive, enterprise and consumer IoT systems.

Another $10 million has been raised by Karamba Security, an Israel-based company that provides products and services for securing industrial, automotive, enterprise and consumer IoT systems.

The funding round is an extension to the Series B funding announced several years ago, and it brings the total raised by Karamba to $27 million. It announced another $10 million in funding in 2018, but the company says that was only a credit line that it did not use.

Karamba Security fundingThe latest investment was led by Vietnamese carmaker VinFast, with participation from SVIC — the global investment arm of Samsung — and existing investors YL ventures, Fontinalis Partners, Liberty Mutual, Presidio Ventures, Glenrock, Paladin Group and Asgent.

Karamba says the funding will be used to accelerate product development to meet customer demands for compliance with new regulations related to automotive and national cybersecurity.

Karamba emerged from stealth in 2016 and at the time it specialized in security solutions for connected cars. It has now expanded to more types of connected devices, including industrial systems, enterprise edge devices, and consumer IoT.

The company says it can protect connected devices throughout their lifecycle without requiring any hardware changes. During the development phase, Karamba helps organizations review the design of their product to find security gaps, and its binary analysis software automatically scans product binaries for vulnerabilities.

In the production phase, Karamba provides a seamlessly embedded agent that enables devices to deterministically prevent attacks. The company also provides a continuous visibility product that monitors the behavior of a device for signs of an attack.

“National and individual risks of cyberattacks on IoT devices and connected vehicles have driven strong regulatory requirements. IoT device manufacturers and automotive OEMs are in an urgent need to comply with such regulations, without changing R&D processes, delaying time to market, or increasing product manufacturing costs,” said Ami Dotan, Karamba co-founder and CEO.

“Karamba’s one-stop-shop offering of products and services has driven strong market traction of such OEMs and IoT device manufacturers, who are attracted to Karamba’s seamless security throughout the device lifecycle,” said Dotan.

Related: IoT Security Company Shield-IoT Raises $7.4 Million

Related: IoT Security Firm Armis Raises $125 Million at $2 Billion Valuation

Related: Regulus Cyber Aims to Secure Cars, Robots With $6.3 Million Funding

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

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.


Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.


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

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.


More than 450 cybersecurity-related mergers and acquisitions were announced in 2022, according to an analysis conducted by SecurityWeek


Forty cybersecurity-related M&A deals were announced in January 2023.


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

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.