From: RegTech Analyst
Cybersecurity firm Regulus Cyber has netted $4m as part of a future Series B round led by SPDG Ventures, the holding company of the Périer-D’Ieteren family, owners of Belgium’s largest automotive business.
The backer was joined by btov Partners, which has previously invested in Facebook, OrCam, and Volocopter. Regulus was also backed by all previous investors participating, including Sierra Ventures, Canaan Partners Israel, F2 Capital, the Technion TIOF fund and Technion R&D foundation.
Regulus Cyber will use the money to enhance its R&D and sales efforts around supporting a recent US executive order that emphasised the protection of positioning, navigation, and time provided by GPS.
Regulus Cyber has claimed that it is the developer behind the fist so-called anti-virus software designed to protect satellite navigation and timing across a wide range of applications, including automotive, mobile, IoT and critical infrastructure,
“There are eight billion GNSS receivers in use worldwide, powering 7% of global economic activity,” said Rainer Schmueckle, one of Regulus’ new investors and previous COO of Daimler Group/Mercedes. “Having researched this domain, we realised Regulus is uniquely positioned to address the rising need to protect this trillion-dollar technology, from hacking.”
The deal comes on the back of Regulus Cyber announcing ann agreement with HARMAN, one of the world’s leading automotive suppliers. The solution will be part of HARMAN SHIELD, the company’s robust offering for risk management to vehicle manufacturers and mobility companies.
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