V2X security provider closes $15 million Series A funding round

February 10, 2021 //By Christoph Hammerschmidt
V2X security provider closes $15 million Series A funding round
Autonomous driving security solutions provider Autocrypt has raised nearly $13 million in a Series A funding round, bringing its total funding to $15 million. The backers include primarily Korean investors, including Hyundai Venture Investment Corp.

The company, led by co-founder and current CEO Daniel Kim, provides end-to-end vehicle security for connected and autonomous vehicles and the surrounding infrastructure. The company currently secures all smart roads and highways in South Korea with a total length of over 5000 kilometres.

Kim explained that "with the funding, Autocrypt plans to improve V2X security technology and apply the technology to more Intelligent Transportation Systems (ITS) projects." In response to the increasing demand for security technologies for autonomous and electric vehicles, Autocrypt also announced the opening of a North American office based in Toronto, Canada. The new office will enable Autocrypt's V2X and Plug&Charge security solutions to be made available to a wider range of testbeds, OEMs, Tier 1 suppliers and automotive software or service providers in North America.

The company is currently in discussions with potential partners in the region and plans to launch active operations in the second quarter. Autocrypt currently runs has offices in Korea, China, Japan and Canada and also plans to expand into the US and Europe in 2021.

More information: https://www.autocrypt.io/

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