Argus Cyber Security said it received $26 million business funding to support the development of Argus’ automotive cyber security solutions.
New investors include Magna International, Allianz SE, the SBI Group, with participation of existing investors Magma Venture Partners, Vertex Venture Capital and the Co-Founder of the RAD Group, Zohar Zisape.
The company decided to expand the security solutions in the wake of increased market demand for car connectivity and security solutions.
Aurgus said it provides a US government tested, ready-to-embed, cyber security solution suite for automobiles and aftermarket connectivity platforms such as OBD-II devices.
“The projects we have completed and others we are now collaborating on with leading car manufacturers and industry players prove that cyber security has become a top priority for the industry’s key decision makers,” said Ofer Ben-Noon, Co-Founder and CEO at Argus.
Argus claimed its solutions prevent a vehicle’s critical systems from being hacked and are integrated into any vehicle production line, with no architecture changes needed.
