{"id":74114,"date":"2019-11-05T17:05:50","date_gmt":"2019-11-05T15:05:50","guid":{"rendered":"http:\/\/www.reunion68.se\/?p=74114"},"modified":"2019-10-28T09:37:20","modified_gmt":"2019-10-28T07:37:20","slug":"29-00-40","status":"publish","type":"post","link":"https:\/\/www.reunion68.se\/?p=74114","title":{"rendered":"Israel\u2019s Upstream Wins Funding to Expand in Automotive Cybersecurity"},"content":{"rendered":"
\"\"<\/a>Israel\u2019s Upstream Wins Funding to Expand in Automotive Cybersecurity<\/a><\/strong><\/span><\/h5>\n

Reuters and Algemeiner Staff<\/strong><\/span><\/p>\n

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A car is seen at the 2019 DEF CON cybersecurity conference\u2019s car hacking village in Las Vegas, Nevada, August 9, 2019. Photo: REUTERS\/Tina Bellon\/File Photo.<\/em><\/span><\/p>\n

Israel\u2019s Upstream Security has secured $30 million in funding from a wide range of global automakers and venture capital firms as it looks to tap into the increasingly competitive market for software to protect vehicles from hackers.<\/span><\/p>\n

The automotive cybersecurity market is forecast to see exponential growth, from around $16 million in 2017 to an expected $2.3 billion in 2025 according to IHS Markit.<\/span><\/p>\n

\u201cThis \u2026 is a testament to the severity of the problem the industry is tackling,\u201d Upstream Chief Executive Yoav Levy said in a statement announcing it had secured $30 million from Alliance Ventures, the venture capital fund of French automaker Renault and Japan\u2019s Nissan Motor and Mitsubishi Motors.<\/span><\/p>\n

Swedish truckmaker Volvo, South Korea\u2019s Hyundai, Nationwide Mutual Insurance, Charles River Ventures, Glilot Capital, and Maniv Mobility \u2014 also took part, Upstream said.<\/span><\/p>\n

Cyber carjacking received attention when a 2015 article by technology magazine Wired showed researchers hacking a Jeep Cherokee SUV while it was driving.<\/span><\/p>\n

\u201cThe problem on the mind in some boardrooms of the (automakers) is really what are the consequences and the risks that we now have in our cars once we introduce connectivity to them,\u201d Upstream Vice President Dan Sahar told Reuters. \u201cNo company wants to be the next one that happens to.\u201d<\/span><\/p>\n

Hackers affecting the safety of cars would be the \u201cdoomsday scenario\u201d for the industry, but recalls or damage to a company\u2019s brand can be costly as well, he said.<\/span><\/p>\n

Upstream will use the funds to double staff numbers, Sahar said, particularly in sales as well as research and development.<\/span><\/p>\n

\u201cSecurity is the core element of the connected vehicle which we cannot compromise,\u201d Yunseong Hwang, vice president of Hyundai\u2019s Open Innovation Investment Group, said in the statement. \u201cUpstream has demonstrated how its optimized security technology can strengthen vehicle security.\u201d<\/span><\/p>\n

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Israel\u2019s Upstream Wins Funding to Expand in Automotive Cybersecurity Reuters and Algemeiner Staff A car is seen at the 2019 DEF CON cybersecurity conference\u2019s car hacking village in Las Vegas, Nevada, August 9, 2019. Photo: REUTERS\/Tina Bellon\/File Photo. Israel\u2019s Upstream Security has secured $30 million in funding from a wide range of global automakers and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[26,24],"_links":{"self":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/74114"}],"collection":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74114"}],"version-history":[{"count":6,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/74114\/revisions"}],"predecessor-version":[{"id":74273,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/74114\/revisions\/74273"}],"wp:attachment":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}