Denso, a leading mobility supplier with its North American headquarters in Southfield, has announced it invested in Dellfer, an automotive and IoT cybersecurity software company. The transaction was part of Denso’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 transaction with 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 nearly $9 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.
“The requirement for cybersecurity solutions for auto manufacturers has never been stronger,” says Tony Cannestra, director of corporate ventures at Denso and a 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 was an early investor in Dellfer and continues to be a key ingredient in validating our mission and vision of the company,” says 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, the company invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, and electronic systems. The company has more than 168,000 employees, and has its headquarters in Kariya, Japan.
At its North America headquarters in Southfield, the company employs more than 27,000 engineers, researchers, and skilled workers across 51 sites in the U.S, Canada, and Mexico.