DENSO announced an investment in Dellfer – an automotive cybersecurity and IoT software company – participating in the company’s Series A funding round, which raised a total of $ 8 million. The investment will help accelerate the development and distribution of Dellfer’s best-in-class cybersecurity solutions for the automotive industry.
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DENSO’s investment in Dellfer was made in conjunction with Option3, a private equity firm specializing in cybersecurity. As part of the investment, the two companies will jointly participate in Dellfer’s board of directors to provide operational and commercial support.
According to a recent Market Research Future report, the automotive cybersecurity market is expected to grow to $ 8.94 billion by 2028. As the automotive industry and other IoT environments increasingly require cybersecurity solutions to protect potential vulnerabilities, Dellfer can provide the protection and traceability that automakers need. Additionally, Dellfer’s holistic solution delivers high-level visibility and granular, actionable information to thwart automotive intrusions.
“The demand for cybersecurity solutions for automakers has never been greater,” said Tony Cannestra, DENSO Business Director and Dellfer Board Member. “We have tested a wide range of available software solutions and have found Dellfer’s approach to be very useful and well suited to the needs of our customers. This investment reflects our continued support for their approach and their go-to-market strategies. “
DENSO’s decision to invest in Dellfer and its cybersecurity software was guided in part by its concepts of “green” – achieving carbon neutrality by 2035 – and “peace of mind” – creating a safe and secure world. transparent for all. In addition to informing its partnerships, these principles will help DENSO achieve its long-term 2030 policy, which aims to enrich society by improving mobility and ensuring sustainability, happiness and peace of mind for all.
“DENSO was an early investor in Dellfer and continues to be a key ingredient in validating our mission and corporate vision,” said James Blaisdell, co-founder and CEO of Dellfer.
DENSO first invested in Dellfer in 2018 during its fundraising round and the companies signed a joint development agreement in 2019.
Other collaborations that DENSO has pursued include:
- Invest in Seurat Technologies to accelerate the development and commercialization of additive manufacturing technologies that help optimize workflows;
- Create a long-term alliance with aerospace leader Honeywell to develop electric propulsion systems for urban air mobility vehicles;
- Invest in Lambda wireless positioning technology developer: 4, helping to strengthen DENSO’s passive digital key;
- Invest in Ridecell to give fleet operators digital tools that optimize fleet management; and
- Collaborate with Drishti to advance action recognition technology, which supports human outcomes in manufacturing.
