Renault–Nissan–Mitsubishi, Hyundai, Volvo Back Car Cybersecurity Startup Upstream

Car cybersecurity startup Upstream Security Ltd. has raised $30 million, bringing its total funding raised to date to $41 million, the company announced Monday. The current round was led by Renault–Nissan–Mitsubishi, through its investment arm Alliance Ventures, with participation by Hyundai Motor Co., Volvo Car Corp., and insurance company Nationwide Financial Services Inc. Existing investors Glilot Capital Partners, Maniv Mobility, and Charles River Ventures (CRV), also participated in the round.

Founded in 2017, Upstream develops cloud-based security technologies that offer data protection, anomaly detection, and real-time analytics against cyberattacks on connected cars. The company employs 40 people in Herzliya, a town in central Israel.