The invest comes as a direct result of the Volvo Group’s partnership with DRIVE, an innovation centre that focuses on disruptive start-ups in the Israeli mobility sector.
“Upstream Security has a promising offering and capability to support with cyber security solutions to meet our future requirements,” says Anna Westerberg, acting CEO of Volvo Group Venture Capital and Senior Vice President, Volvo Group Connected Solutions.
According to Volvo, market research shows that there will be substantial growth in the market for cybersecurity solutions for connected vehicles in the coming years.
“Our mission is to protect every connected vehicle and smart mobility service on the planet. This funding is perfectly timed to meet the growing demand for our data-driven, cloud-based platform, providing our customers with the capabilities it needs to accomplish this vitally important task,” says Yoav Levy, Upstream Security co-founder and CEO.