C2A Security signs strategic partnership MoU with large European Tier-1
Cybersecurity management for EV and automotive software
- Full lifecycle, automated, comprehensive vehicle cybersecurity through planning, testing and deployment, ready for future regulatory compliance
- Signed MoU with a large European Tier-1 targeting a multi-year, multimillion-dollar strategic partnership
- Tech to be incorporated in Marelli's product development, NTT Data's cybersecurity test center
- Completed phase-1 engagement with a major energy conglomerate; collaboration with Chinese OS giant ThunderSoft; PoC with large US OEM; over 30 active engagements in the pipeline
- 15X traction growth in 2022; forecasting 500% bookings YoY growth in 2023
- Up to $8M SAFE led by More VC with ~$38.5M cap, 20% discount, up to 100% warrant coverage; all existing investors participating
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Dear Josb,
Software-defined vehicles, electrification and autonomous driving features make cars increasingly vulnerable to cyber-attacks.
OurCrowd is reinvesting in C2A Security, an Israeli company that provides a comprehensive cybersecurity management system for the automotive industry that focuses on the rapidly growing electric vehicle market. The details in this email are based on information received from, and verified solely by, the company.
Since we launched this opportunity on the OurCrowd platform in August 2022, the company reports the following significant developments:
Growing traction: C2A Security has experienced 15X in traction in 2022 and is forecasting over 500% bookings YoY growth in 2023.
New commercial deals: C2A Security signed an MoU with a large European Tier-1 targeting a multi-year, multimillion-dollar strategic partnership. It also signed a collaboration with the world's leading operating system products and technologies vendor ThunderSoft, to provide cybersecurity solutions for the automotive industry in China. An upcoming commercial agreement with a European service provider will utilize C2A's tools as part of the offering to OEMs.
As part of a new project, Italian Tier-1 Marelli will be incorporating C2A's testing module as part of its product development. The company also became the first tool provider to be part of NTT Data's new cybersecurity test center, serving its customers globally.
C2A won a startup competition award conducted by the EV consortium MIH, founded by Foxconn, which is looking to take a lead in EV vehicle production.
Growing pipeline: The company has over 30 active engagements in its pipeline. C2A is executing a PoC with a large US OEM on track to become a strategic partnership. It also recently closed phase-1 of its engagement with a major energy conglomerate to collaborate on EV charging cybersecurity.
The Round
OurCrowd has a $1.5M allocation in this up to $8M SAFE led by More VC with a ~$38.5M cap, 20% discount, and up to 100% warrant coverage (see Deal Terms for further details). All existing investors are participating.
Meet the CEO
Watch an investor briefing with CEO Roy Fridman and learn more about C2A Security.
The C2A Security Solution
EVSec is designed to achieve C2A Security's vision of a practical approach for automating cybersecurity processes throughout the vehicle lifecycle. Planning, testing, and embedded security can quickly be deployed while reducing the complexity of EV ecosystem security lifecycle management.
EVSec integrates numerous data sources:
- Detects threats through fuzzing, pen testing, automotive threat analysis and risk assessment (TARA), vulnerability analysis
- Processes data with its requirements manager and test management
- Offers static and dynamic code analysis integration
- Embedded insights to the operational virtual security operations center (VSOC) analyzer and fleet management
- Full digital twin that optimizes embedded protection
Next steps:
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