Asian Tech Press (SEP 28) -- LG Electronics will invest another $20 million in Israeli auto cybersecurity startup Cybellum in the fourth quarter of this year, according to media reports.

Last week, LG Electronics stated that it had acquired a 63.9 percent stake in Cybellum. The company said it would acquire the remaining shares of Cybellum in the near future.

By acquiring Cybellum, an Israeli automotive cybersecurity startup, LG Electronics is entering popular fields such as high-tech automobiles.

LG Electronics is the second-largest electronics company in South Korea. In addition to smartphones, it is also involved in various industries, including white goods and home equipment. In April this year, LG Electronics announced exiting the smartphone business to focus on high-tech automobiles and other areas.

Founded in 2016, Cybellum is an auto cybersecurity company with risk assessment software technology that identifies security vulnerabilities and risks in software used on automotive parts. The company is currently working with key industry players to deliver its products to automakers and suppliers worldwide successfully.