Together with our cooperation partner Cybellum, a leading company in the field of risk assessment in Automotive Cyber Security, we are pleased to announce the successful closing of Round A with a financing amount of 12 million USD. This brings the total investment in the company to 15 million USD. The financing round was led by RSBG Ventures GmbH with additional investments from the existing investors Blumberg Capital and Target Global. With the successful closing of the A-round, Cybellum is now able to accelerate its already strong growth through expanded sales, marketing and technical programs. In addition, Cybellum can now extend its Risk Assessment Platform and Digital Twin approach to other industries, enabling them to scale their vulnerability management efforts.
Software Risk Management for the Automotive Industry
In 2018, co-founders Michael Engstler and Slava Bronfman introduced the Cybellum Automotive Risk Assessment, which helps the automotive supply chain to thoroughly test every single component in the vehicle and use the results of the risk assessment to demonstrate to their customers that the vehicle components they sell are secure.
Cybellum has developed a revolutionary technology that detects all software vulnerabilities in the various components of the vehicle without accessing their source code. The Cybellum platform monitors every single strand of code for vulnerability, allowing manufacturers to take immediate action and eliminate any cyber-risk before damage occurs.
Automated Vulnerability Management for the Automotive Industry
The result is a complete, detailed Digital Twin that contains even the smallest details of each software component. With the complete Digital Twin as a file, Cybellum continuously scans for emerging vulnerabilities and identifies potential threats that affect specific models, production series and brands. With Cybellum’s solution, OEMs can ensure that the software in their vehicles is maximally protected throughout the whole automotive value chain.
With the successful closing of the A-round, Cybellum can now respond to the growing demand for the Cybellum solution from other industries and sectors, such as the digital health industry, Industry 4.0, aerospace and others. First, the company’s presence in the automotive industry will be expanded and then the technology will be introduced in other industries.
A few days ago Cybellum announced a strategic partnership with the Innovation Lab of Renault-Nissan-Mitsubishi, the world’s leading automotive alliance.
Cybellum already cooperates with 10 leading OEMs and Tier-1 suppliers in the USA, Europe, Japan and China. Cybellum enables automobile manufacturers and suppliers to identify and eliminate safety risks comprehensively throughout the entire vehicle life cycle. With the Cybellum solution, software components can be scanned without requiring access to the source code. In this way, cyber vulnerabilities can be uncovered easily and manufacturers can take action close to real time and eliminate cyber risks during the development and production process before any major damage occurs. At the same time, the vehicles are continuously monitored for emerging cyber threats that affect the vehicles even while they are on the road.
Magility and Cybellum
The UNECE regulation, which we have already reported on in the magility blog, and the ISO/SAE standard are the greatest challenges which the automotive industry is facing in 2020. UNECE WP.29 GRVA1 harmonises the requirements for
cyber security and software updates in vehicles. ISO/SAE 21434 will also become a technical standard to demonstrate compliance with the requirements of UNECE WP.29. magility acts as a system integrator for Cyber Security Management Systems (CSMS) in the German and European market. We support companies in the holistic integration of a CSMS in compliance with the current regulations WP.29, as well as the upcoming ISO 21434 and other standards and best practices. In order to provide our customers with comprehensive support, we maintain cooperation partnerships with technology companies such as Cybellum and the independent certification service provider DEKRA. We are thus ideally positioned to meet the cyber challenges of the future. For you this means CSMS organisation and process consulting, the necessary technology and CSMS certification come from a single source.
We would be happy to advise you holistically or selectively on the integration or expansion of a CSMS that complies with current guidelines and provides maximum protection for your company and your products. You can read here a recent interview with Dr. Michael Müller about the new regulations and the introduction of a CSMS. You are welcome to contact us. We will send you further information material on Cyber Security Management Systems.