Autonomous Vehicle Security Firm AUTOCRYPT Raises $15 Million
Autonomous vehicle security solutions provider AUTOCRYPT this week announced that it raised another $13 million in its Series A funding round, which brings the total secured in this round to roughly $15 million.
The Seoul, South Korea-based firm aims to improve the safety of transportation through securing all of the connections a vehicle makes. The company provides security solutions to both governments and automakers.
Offering end-to-end vehicle security technologies for both autonomous and connected vehicles, the company claims to have secured more than 5,000 kilometers of smart roads and highways in South Korea.
The new funds, AUTOCRYPT says, will help it enhance its V2X security technology and expand its market presence to the United States and Europe.
The new funding round included investors such as KB Investment, Korea Asset, Hyundai Venture Investment Corp., IBK, Pathfinder H, and Ulmus Investment.