DENSO, a leading mobility supplier, announced it invested in Dellfer – an automotive and IoT cybersecurity 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 cybersecurity solutions for the automotive industry.
DENSO’s investment in Dellfer was made jointly with Option3, a specialist cybersecurity private equity firm. As part of the investment, both companies will jointly participate on Dellfer’s board to provide operational and sales channel support.
According to a recent Market Research Future report, the automotive cybersecurity market is projected to be worth $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 auto manufacturers need. Moreover, Dellfer’s holistic solution provides high-level visibility and granular, actionable insights to thwart intrusions in automobiles.
“The requirement for cybersecurity solutions for auto manufacturers has never been stronger,” claims Tony Cannestra, DENSO’s Director of Corporate Ventures and Dellfer board member. “We tested a wide array of available software solutions and found Dellfer’s approach to be highly valuable and a good fit for our customer’s needs. This investment reflects our continuing support for their approach and 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 seamless world for all. In addition to informing its partnerships, these principles will help DENSO achieve its Long-term Policy 2030, which focuses on enriching society by enhancing mobility and achieving sustainability, happiness and peace of mind for everyone.
“DENSO was an early investor in Dellfer and continues to be a key ingredient in validating our mission and vision of the company,” stated James Blaisdell, co-founder and CEO of Dellfer.
DENSO first invested in Dellfer in 2018 during its seed funding round and the companies signed a joint development agreement in 2019.
Other collaborations DENSO has pursued include:
- Investing in Seurat Technologies to speed the development and commercialization of additive manufacturing technologies that help optimize workflows;
- Creating a long-term alliance with aerospace leader Honeywell to develop electric propulsion systems for urban air mobility vehicles;
- Investing in wireless positioning technology developer Lambda:4, helping strengthen DENSO’s passive digital key;
- Investing in Ridecell to give fleet operators digital tools that optimize fleet management; and
- Collaborating with Drishti to advance action-recognition technology, which supports human outputs in manufacturing.