Autocrypt Closes USD25.5M Series B Funding

Autocrypt

Autocrypt, a Seoul, South Korea-based secure mobility and V2X communications company, raised USD25.5m in Series B funding, at post-money valuation of $120m.

Backers included Korea Asset Investment Securities, Ulmus Investment, BSK Investment, Shinhan Venture Investments, JB Asset Management, STIC Ventures, Pathfinder H, and Hyundai Venture Investment. 

The company intends to use the funds to expand operations and its business reach.

Led by CEO and co-Founder Daniel ES Kim, Autocrypt has developed automotive and smart mobility technologies for C-ITS and autonomous driving.

Besides its advancements in V2X security, the company has also added Security Analyzer™ and Security Fuzzer™ to its in-vehicle systems security solution. Security Analyzer is an SBOM-based software vulnerability analysis platform, protecting vehicle software throughout its entire lifecycle, while Security Fuzzer effectively detects software flaws through smart fuzzing. Both tools are essential for today’s increasingly software-oriented E/E architecture.

The company is currently in talks with several public agencies across the globe to implement its V2X security and SCMS for C-ITS projects. It already manages security and PKI for all C-ITS projects on the Korean peninsula. 

Establishing subsidiaries in Toronto, Canada and Munich, Germany, Autocrypt is growing its foothold in Europe and North America, with plans to open its Singapore office later this year.  

FinSMEs

27/05/2022