Vehicular Cybersecurity Start-up SecureThings.ai Raises $3.5 Million led by Inflexor Ventures
SecureThings.ai, a vehicular cybersecurity incubator, has secured $3.5 million in investment led by Inflexor Ventures.
The preliminary series 9Unicorns, SAB Holdings, RPG Ventures, and other UHNIs also contributed to the funding. Inflexor has invested in six firms from Fund II since November 2020, including GramCover, Atomberg, and Vitra.ai.
Key Venture, managed by Nidhi Saraf, served as the round's only adviser.
The funds will be used for product development, business expansion in India and abroad, team expansion in India and the United States, and sales and marketing.
Vishal Bajpai's company, SecureThings.ai, specialises in machine learning-based cybersecurity for all types of automobiles. It has a research centre in Pune, India, as well as headquarters in California.
Bajpai said, “with the increasing automation in vehicles, the sources of attacks are ever-expanding. We realized that automotive cybersecurity is unique; it requires not only a focused solution to protect the supply chain but also to rebuild the current protection stack to work in the challenging environment of an automobile.”
Referring to the term "internet of things" (IoT), Venkat Vallabhaneni, Managing Partner, Inflexor Ventures, remarked, “coupled with the large-scale adoption of IoT that is expected shortly and the regulatory push by authorities worldwide, we believe that SecureThings has a huge potential.”
Sandeep Singhal, a senior advisor at Avaana Capital and a former managing director at Nexus Venture Partners, agreed, “SecureThings is bringing the cybersecurity paradigm from the computing world to the automotive space and addressing threats at each layer of the connected vehicle. There is a global market to target, and we are excited with the traction that the team is seeing”.
The preliminary series 9Unicorns, SAB Holdings, RPG Ventures, and other UHNIs also contributed to the funding. Inflexor has invested in six firms from Fund II since November 2020, including GramCover, Atomberg, and Vitra.ai.
Key Venture, managed by Nidhi Saraf, served as the round's only adviser.
The funds will be used for product development, business expansion in India and abroad, team expansion in India and the United States, and sales and marketing.
Vishal Bajpai's company, SecureThings.ai, specialises in machine learning-based cybersecurity for all types of automobiles. It has a research centre in Pune, India, as well as headquarters in California.
Bajpai said, “with the increasing automation in vehicles, the sources of attacks are ever-expanding. We realized that automotive cybersecurity is unique; it requires not only a focused solution to protect the supply chain but also to rebuild the current protection stack to work in the challenging environment of an automobile.”
Referring to the term "internet of things" (IoT), Venkat Vallabhaneni, Managing Partner, Inflexor Ventures, remarked, “coupled with the large-scale adoption of IoT that is expected shortly and the regulatory push by authorities worldwide, we believe that SecureThings has a huge potential.”
Sandeep Singhal, a senior advisor at Avaana Capital and a former managing director at Nexus Venture Partners, agreed, “SecureThings is bringing the cybersecurity paradigm from the computing world to the automotive space and addressing threats at each layer of the connected vehicle. There is a global market to target, and we are excited with the traction that the team is seeing”.
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