SOUTHFIELD, Mich., Oct. 19, 2021 /PRNewswire/ -- DENSO, a leading mobility supplier, today 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 best-in-class 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.
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.
DENSO is a $44.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global.
In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2021, DENSO in North America generated $9.3 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.
Dellfer is an automotive and IoT cybersecurity software company empowering automotive leaders to build security into connected vehicles, protect against unknown threats, and thwart intrusions with unmatched visibility, speed, and accuracy. Dellfer provides an easy-to-deploy, out-of-the box solution, with a user-friendly dashboard for continual over-the-cloud monitoring. Dellfer is unmatched in its ability to deliver a holistic solution with high-level visibility and granular, actionable insights to thwart intrusions. For more information, visit https://www.dellfer.com.