Argus Cyber Security Secures $26M Series B Funding
Automotive cyber security company Argus Cyber Security announced Thursday it has raised $26 million in Series B funding.
The round includes Magna International, Allianz SE, the SBI Group and existing investors Magma Venture Partners, Vertex Venture Capital and the Co-Founder of the RAD Group, Mr. Zohar Zisapel. The new funding will support the expansion of Argus’ development and customer support teams.
As a key driver of the Internet of Things (IoT) adoption, car connectivity is a rapidly growing market, expected to serve hundreds of millions of passenger cars and commercial vehicles within the next few years.
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This technology, according to Argus, either embedded or aftermarket based, already supports advanced safety features and improved passenger experience, and will also be the enabler of the autonomous car.
Argus bridges the gap between car connectivity and security. It provides a ready-to-embed, cyber security solution suite for automobiles and aftermarket connectivity platforms such as OBD-II devices.
Argus solutions prevent a vehicle’s critical systems from being hacked and are seamlessly integrated into any vehicle production line, with no architecture changes needed, claims the company.
Car manufacturers using the Argus Cyber Dashboard gain situational awareness to the cyber health status of their fleets, receive pin-point alerts and respond in real-time to cyber attacks.
Based on Deep Packet Inspection (DPI) and Big Data patent-pending technologies, Argus says it delivers future-proof, adaptable protection against new threats as they emerge, keeping vehicles safe for their entire life span.