As the internet of things (IoT) grows in the electronics market, the more critical the need for cybersecurity. Karamba Security is working to improve security in IoT and the automotive sector and has secured $10 million in new funding to further its goals.
The total investment in Karamba has increased to $27 million and the new funding will be used to accelerate development of its product roadmap to comply with newly created regulations such as UN R155 and ISO 21434 for automotive cybersecurity and the U.S. Executive Order on improving the nation’s cybersecurity.
Karamba Security’s IoT cybersecurity allows automotive OEMs and suppliers as well as IoT device makers to comply with industry regulations and differentiate offering without costly changes in production schedules or to legacy modules.
The lead investor in this round of financing was VinFast, a private conglomerate in Vietnam with participation from SVIC and other existing partners.