Automotive start-up Upstream raises $62M Series C to scale cloud-based security
Back in 2015, scientists Charlie Miller and Chris Valasek remotely hacked into a Jeep Cherokee driven by a Wired press reporter, Andy Greenberg, in an effort to warn the car market of prospective mistakes in their software application and influence legislation around automotive cybersecurity. It did that and more. Fiat Chrysler, which owns Jeep, wound up recalling […] Aside from a massive hit to Jeep’s brand name image, Yoav Levy, co-founder and CEO of automotive cybersecurity business Upstream, reckons this stunt cost the automaker more than $1 billion in losses from recalls.”From the car manufacturer’s cloud, we keep track of all the data that is being sent out towards the car before the vehicle is in fact getting it, and if we’re doing a good task, we can in fact obstruct these messages before they get to the cars and truck,”Levy told TechCrunch. Aside from scaling its security operations even more, Upstream likewise plans to utilize the fresh funds to broaden its offerings in information analytics, insurance telematics, predictive analytics and organization intelligence, the company said. Image Credits: Upstream. …
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