V2X Security Provider AUTOCRYPT Closes Series A Funding Round with 15M USD, Opens North American Office

TORONTO, CANADA — AUTOCRYPT Co., Ltd., a leading autonomous driving security solutions provider, raised nearly 13 million in a Series A funding round, bringing the total to 15M raised in 2020. Backers included major Korean investors KB Investment, Pathfinder H, Ulmus Investment, Korea Asset, Hyundai Venture Investment Corp., and IBK.

Led by CEO and co-Founder, Daniel ES Kim, AUTOCRYPT has garnered the attention of the automotive industry, providing end-to-end vehicle security for connected and autonomous vehicles and surrounding infrastructure. The company currently secures all smart roadways and highways in South Korea, totaling over 5000 kilometers. Kim stated that with the funding, “AUTOCRYPT plans not only on enhancing V2X security technology but also in expanding security operations into more Intelligent Transportation Systems (ITS) projects.” He continued, “We are confident that this investment validates the quality of what we have developed and will allow us to continue prioritizing security in connected and autonomous vehicles.”

Due to a rising demand in autonomous and electric vehicle security technology, AUTOCRYPT also announced the opening of its North American office, located in Toronto, Canada. The new branch will allow for AUTOCRYPT’s V2X and Plug&Charge security solutions to be more widely accessible to testbeds, OEMs, Tier-1 suppliers, and automotive software or service providers located in North America. The company is currently in talks with potential partners in the region and plans to begin active business operations in Q2. With its offices now in South Korea, China, Japan and Canada, AUTOCRYPT is also planning to expand into the United States and Europe in 2021.

For more information, contact global@autocrypt.io

Update (January 5, 2022): After closing the $15-million Series A funding round in late 2020, AUTOCRYPT has since opened offices in the United States and Germany. It recently opened its Series B financing round, opening up opportunities to investors worldwide.

AUTOCRYPT Launches C-V2X Solution Demonstrating Interoperability with China C-SCMS Standards

SEOUL, KOREA — AUTOCRYPT Co., Ltd., a leading V2X security solutions provider, announced the launch of its new C-V2X solution, supporting Chinese Secure Credential Management System (C-SCMS) standards. AUTOCRYPT received verification tests for compatibility by the C-V2X working group at China Academy of Information and Communications Technology (CAICT), under the new International Mobile Telecommunications-2020 (IMT-2020(5G)) Standard for 5G networks, devices, and services.

China currently leads the world in usage of LTE communications and currently has the third best-selling automotive brand in the market. The nation has set itself on a progressive path in the automotive industry by standardizing the LTE-V2X communications system throughout the entire country, making it mandatory to implement LTE-based C-V2X technology rather than Dedicated Short-Range Communications, or DSRC, into C-ITS projects. China has promoted active deployment of the technology and has already begun C-V2X technology demonstrations in 30 regions. Wuxi, Tianjin and Changsha cities have been designated as the first main cities in the country to become C-V2X commercialization areas, undergoing major developments.

Last month, AUTOCRYPT’s solution was verified for interoperability by the China Industry Innovation Alliance for Intelligent and Connected Vehicles (CAICV), undergoing testing for “four-layers” interoperability between OEM, OBU terminal, V2X communication module, and PKI to comply with C-SCMS standards.

Overseas solutions providers often face challenges in entering market as China’s regulations for C-SCMS differ from existing standards. Unlike the existing SCMS structure, China’s SCMS (C-SCMS) standards utilize a Certificate Trust List (CTL) which configures trust relationships between several PKI (Multiple Root CA) systems. Additionally, C-SCMS allows the download of a security certificate without a registration certificate, further requiring stability measures to be implemented into the protocol.

AUTOCRYPT’s C-V2X security solution has met the challenge to demonstrate compliance, verifying the new solution’s C-SCMS technical standards, making AUTOCRYPT’s security solutions ready for implementation into the country’s Cooperative Intelligent Transport Systems (C-ITS) projects.

CEO and co-Founder Daniel ES Kim remarked, “When it comes to autonomous vehicles and their secure operation, it is essential to ensure compliance with the standards set by the governing parties.” He continued, “AUTOCRYPT currently leads the field in terms of C-ITS security projects, and with this interoperability verification, we are confident that our C-V2X based autonomous driving security solutions will continue to contribute to C-ITS deployment and development in China.”

AUTOCRYPT Releases a Major Update to its BSM Verification V2X Technology

Enhanced hybrid V2X Technology for BSM Verification Effectively Advances the Mobility Security Standards for OBU, Network Software, and Chipset Providers

SEOUL, South Korea — AUTOCRYPT, a leader in transportation security technologies for connected vehicles, presented a major update to its BSM (Basic Safety Message) verification technology with an advanced version that outperforms at a minimum of 30% enhanced speed and accuracy compared to its major competitors. 

BSM is a packet of data that is utilized when sharing information about a vehicle’s position, heading, speed, and other critical data of the vehicle’s state and predicted path. With faster and safer verification technology, this version will be a massive release for all OBU (On-Board Unit) manufacturers, providers, including those Network Software, and Chipset providers expanding to bolster the industry’s growth ambitions with fast, powerful and reliable automotive security technologies.

With upgraded specifications, AUTOCRYPT’s hybrid mixed-mode technology applied to existing chipset hardware increased efficiency of mobility communications environment. The optimization maximized the capabilities and showed successful V2X security module test results. As a result, AUTOCRYPT is expecting to cultivate the global market with partners via activities such as OmniAir’s Plugfests and lay the foundation for automakers and Tier 1 suppliers alike. 

“The main features of this update are enhanced speed, accuracy, and portability,” said Daniel ES Kim, CEO of AUTOCRYPT. “As the market demands more reliable technology that can be deployed to various layers of OBU production, strategically tapping our resources will not only drive innovation across the entire automotive security industry but also raise performance standards and set trends globally.”

AUTOCRYPT’s V2X solutions are built upon two decades of heritage by industry experts with market-proven expertise in security. The V2X solution has been applied to all C-ITS projects in South Korea since 2016. AUTOCRYPT offers international standards-compliant automotive security solutions that can be customized to meet specific requirements across North America, Europe, and the APAC region including China.

AUTOCRYPT Reflection: A Letter to Our Friends

Hope everyone is not too worn out by the COVID-19 pandemic. Despite having to go through one of the hardest times in modern history, let us never lose hope and continue to protect the safety of ourselves and others.

We here at AUTOCRYPT also had a very busy spring. After spinning off from Penta Security last year and becoming an independent company, we have expanded our global customer base, increased our international collaboration, and participated actively in ITS developments.

As we relaunch our official website, we thought this would be a great time for us to share with you some of the accomplishments and milestones we have recently achieved.

Joining the 5G Automotive Association (5GAA)

AUTOCRYPT joined the 5G Automotive Association as a security expert, sharing insights and technologies with some of the largest automakers, telecommunications equipment makers, and on-board unit (OBU) manufacturers around the world.

Founded in 2016, 5GAA is an international organization formed by companies from all areas of the automotive industry. Its ten founding members consist of automakers Audi, BMW, Daimler, telecommunications equipment manufacturers Samsung, Intel, Nokia, Ericsson, Huawei, as well as OBU manufacturers Qualcomm and Harman.

First, the members are committed to creating a set of international standards for the intelligent transportation system (ITS); think of it as version 2.0 of the 1968 Vienna Convention on Road Traffic. 

Second, the members seek to collaborate on developing both in-vehicle and roadside solutions for the next generation of connected mobility and autonomous driving. 

Lastly, the members also work extensively with governments across the world on ITS projects, currently focused on testing smart roads with connected infrastructure.

Joining 5GAA is a complex process involving some of the most demanding requirements. As a worldwide pioneer of the mobility security industry, AUTOCRYPT possesses the most field experience in vehicle-to-everything (V2X) security and is proud to serve the latest security technologies for automakers, Tier 1 suppliers, and infrastructure developers.

Joining the Car Connectivity Consortium (CCC)

AUTOCRYPT has also become a member of the Car Connectivity Consortium, sharing its expertise on vehicle-to-device (V2D) security and experience in designing public key infrastructures (PKIs) with top firms in both automotive and mobile communication industries. 

CCC is a cross-industry organization that aims to advance technologies for smartphone-centric car connectivity solutions. AUTOCRYPT joined the consortium as the first mobility cybersecurity company from Asia Pacific. Other members include the world’s top automakers Toyota, Volkswagen, GM, Hyundai, and top smartphone makers Samsung and Apple.

CCC focuses on developing digital keys that enable drivers to use their smartphones to unlock their cars, turn on their engines, and share access with family members or valets. The goal is to allow the drivers to simply connect and ride, regardless of the device or vehicle.

Similar to 5GAA, AUTOCRYPT contributes its technical expertise in establishing a set of international technical standards. It also works on a series of projects related to digital key solutions performance evaluation.

Winning the 2019 TU-Automotive Awards

This was another great achievement for us. AUTOCRYPT won in the category of the Best Auto Cybersecurity Product/Service at the 2019 TU-Automotive Awards.

TU-Automotive holds an annual awards ceremony along with one of the largest automotive technology conferences. With 30 years of experience, it is exceptionally precise and accurate at analyzing products and services in the automotive sector. As such, these awards are considered one of the most prestigious in the car tech industry.

Competing with more than 400 companies, AUTOCRYPT was awarded for its outstanding future-oriented security technologies for autonomous and electric vehicles, as well as for the smart mobility infrastructure. The 2019 awards recognized major industry leaders in 12 different categories, including Amazon, Mitsubishi, and Honda, alongside AUTOCRYPT.

Shortlisted for the 2020 TU-Automotive Awards

This year, AUTOCRYPT got shortlisted again under the category of Industry Choice Award: The Automotive Teech Company of the Year. Facing off our biggest V2X competitor Qualcomm, does our twice-as-fast V2X verification speed give us an advantage at winning? Let’s leave if for the industry judges to decide.

We here at AUTOCRYPT are optimistic about the future of transportation and will stay dedicated to developing the best mobility solutions for automakers and Tier 1 suppliers.

Starting now, we will be sending out a newsletter to our followers every month, providing some short updates on AUTOCRYPT and the latest trends in the mobility industry.

Hope everyone has a great summer season ahead. Stay safe and healthy!

Penta Security Debuts V2G Security Solution for E-mobility Market to Secure Electric Vehicle Charging

e-mobility chart for automotive security solutions
AutoCrypt V2G helps address the urgent security needs in electric vehicle (EV) charging infrastructure and payment systems, amid hiking sales forecasts for the electric car market.

SEOUL, South Korea | E-mobility, or electric mobility, is projected to mark the next significant paradigm shift in the transportation industry, providing growth opportunities not only for electric vehicle manufacturers but all service providers in the fields of energy and transport systems. While progress is accelerating in pace and sophistication, some obstacles to EV adoption remain.

One of the main issues is that EVs require charging along their journey, and likely at charging stations managed by different charge point operators. To prevent compatibility issues down the road, the Open Charge Point Protocol (OCPP) was established to allow interoperability in EV charging infrastructure and streamline payment processes across mobility operators. With more than 40,000 installations in 49 countries, OCPP has become the de-facto open communication standard for the open charger to network communications.

Likewise, standards are crucial for the effective implementation of security. Penta Security Systems Inc., a leading provider of web, IoT, and data security solutions and services, is paving the way for reliable electric vehicle charging by adding an electric vehicle charging security solution, AutoCrypt V2G, to the world’s first comprehensive suite of security for intelligent transport systems, AutoCrypt.

Created through cooperation on interoperability and conformance with leading industry organizations including OmniAir Consortium and CharIN, AutoCrypt V2G provides a Public Key Infrastructure (PKI) system for authenticating and authorizing all entities within the e-mobility service infrastructure. This enables the secure deployment of Plug&Charge, which is a method of simplified payments for EV charging via the transmission of encrypted data from the vehicle to the charger when plugged in, charging, and processing automated payments.

Utilizing OCPP to secure communication between charging supply and backend billing systems, and designed according to the leading ISO/IEC 15118 standard, AutoCrypt ensures essential security technologies, such as encryption and digital signatures, are used to protect EVs during charging.

Starting with Europe, AutoCrypt V2G is set to enter the EV charging market next year via a partnership with smart grid solution provider GridWiz and its Plug&Charge solution, which utilizes AutoCrypt V2G for safe and convenient EV charging and payments processing. This comes following the successful presentation of AutoCrypt at the 31st International Electric Vehicle Symposium & Exhibition (EVS 31) and International Electric Vehicle Technology Conference 2018 (EVTeC 2018), one of the largest international events for electric vehicles, and consistent participation in ISO/IEC 15118 testing symposiums worldwide to ensure the wide applicability of AutoCrypt V2G.

Chief Technology Officer of Penta Security Systems, SangGyoo Sim emphasized how AutoCrypt addresses key concerns in the industry. “To encourage widespread adoption of e-mobility and EVs, it is essential that the charging infrastructure is both secure and conforms to industry standards. Furthermore, as EV charging not only involves the charging process but also the exchange of sensitive data, robust security is necessary for protecting data integrity and user privacy. AutoCrypt V2G ensures that all communications throughout the service infrastructure are adequately protected.”

Intelligent Transportation System Leads to First Test Bed ‘K-City’ for Connected Cars in South Korea

Penta Security Systems Inc. will head and monitor security systems for K-City, testing, and certifying the safety of smart vehicles. With the increasing prominence of smart and connected vehicles in Asia, South Korea is no stranger to the need for an intelligent transportation system (ITS), comprised of networks of smart roads and highways to communicate with the technology of connected and autonomous cars. Smart roads and highways allow for streamlined connectivity between a vehicle and surrounding vehicles as well as infrastructure and roadside units.

This connectivity must function seamlessly to provide maximum efficiency and security. The first-ever ITS project in Korea began in 2016 with smart roads set up in two major cities, Daejeon and Sejong. Consequently, Yeoju was added as the third ITS city in 2017 with the construction set to complete in December this year. Penta Security Systems, a leading provider of web, IoT, and data security solutions and services, has set up and provided oversight on the security systems for all three cities by ensuring that its connected car security solution, AutoCrypt, protected vehicles, devices, and roadside units in the ITS from malicious traffic and tampering.

르포] 국내 자율주행차 실험도시 K-City가 세계 최고인 이유? - M오토데일리
Source: Korea Transportation Safety Authority

Following the successes of ITS and with data collected from smart roads and highways, K-City, a new testbed—the first of its kind in the country and second-largest in the world—will open to both tests and certify the safety of autonomous cars. Consequently, Penta Security received the green light to head the installation and operation of security systems for K-City, implementing Public Key Infrastructure (PKI) technology as well as V2X security systems.

This will ensure that communication between a vehicle and other vehicles (V2V, Vehicle-to-Vehicle) and infrastructure (V2I, Vehicle-to-Infrastructure) through roadside units are properly secured and encrypted. Penta Security will play a critical role in testing autonomous vehicles for proper security implementation as part of the certification for K-City. Chief Technology Officer of Penta Security Systems, Daniel ES Kim remarked, “One of the central challenges for autonomous vehicles is that if the cars are compromised through internal or external networks, it is no longer a technical issue, but an issue of human safety.

Penta Security’s cooperation in leading security operations at the new testbed means that not only will K-City test autonomous vehicles for their operational technology, but security will also be highlighted as a priority.” Penta Security holds a “Secure First, Then Connect” approach to IoT, prioritizing logic-based security before connectivity in order to provide comprehensive and effective security. South Korea’s K-City, along with Penta Security’s security implementations, is set to open for testing in 2018.