IoT and automotive cybersecurity software technology developer, Trillium, has raised Series A funding led by Japanese capital firm Global Brain
. Both the companies are predicting to close when more Tier I strategic investors join the funding round. Unfortunately, the the amount of the funding has not yet been disclosed.
According to Trillium, the secured funding will be used to accentuate field testing of the company’s technology in commercial vehicles along with market expansion and collaboration with automotive and Tier I manufacturers. The company will be eyeing to expand its technologies and solutions for those industrial markets which are looking out for IoT cybersecurity solution.
Dr. Sachio Semmoto, Founder of DDI and eAccess, and Chairman of Trillium said:
Trillium SecureCAR technology solves the cybersecurity problems that have challenged the automotive industry for many years. The combination of Public Key cryptography and dynamic session key management creates a highly entropic environment, which is resilient against known attack methods.
According to a Trillium report
, the connected car market is growing 45 percent every year, with estimates of 250 million connected vehicles on public roads globally by 2020. The company claims that such internet connected vehicles are highly susceptible to car-hacking ranging in severity from theft of personal data to remote control of vehicle steering, braking, acceleration and safety systems.
Established in 2014, The anti-car hacking technology SecureCar
developed by Trillium is used for protecting in-vehicle networks (IVN) of automobiles and other transportation equipment from cyber-attack using advanced encryption, authentication and key management technologies. Apart from this, the company has developed many other Cybersecurity solutions such as SecureCAN, SecureLIN, SecureEhter and SecuresenseNET.
Yasuhiko Yurimoto, President and CEO, Global Brain, said, “In the past year, North American and European markets have been very aggressive with regard to M&A investments in automotive related technologies including cybersecurity and autonomous driving. We expect this trend to continue and intensify.”