Volvo Group Venture Capital AB has invested in Upstream Security, a leading Israeli automotive cybersecurity company. The investment will fund the development of systems to protect connected vehicles following the introduction of data-driven technologies.
“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.
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.