Tom LaSorda, the former CEO of Chrysler and Fisker, said his venture capital fund IncWell has invested in a global automotive cyber-security supplier called TowerSec.
Terms of the investment were not disclosed.
TowerSec was founded in 2012 by a team of Israeli cyber-security experts and Detroit-based automotive experts.
“We’ve been looking for a solution to the growing cyber security threat in vehicles,” LaSorda, 60, said in a statement Tuesday. “The threat is growing rapidly as vehicles are becoming increasingly more connected whether to devices and the Internet of Things or to other connected vehicles. It further intensifies with the continuing development of self-driving or autonomous vehicles. This connectivity puts both lives and personal data at risk.”
One of TowerSec’s main products is ECUSHIELD, which protects the vehicle from cyber threats. It can be used in existing, future and fleet vehicles. It is the only tested software security solution available for immediate use.
It requires no hardware or communication redesign.
ECUSHIELD can be integrated into the vehicle to provide continuous monitoring while identifying new threats to the vehicle.
This prevents malicious communication from reaching mission-critical systems inside the vehicle. The ECUSHIELD also turns any ECU into an Intrusion Detection and Prevention system and any gateway ECU into a smart firewall.
IncWell’s partners include dealership and racing mogul Roger Penske, Daimler Chairman Dieter Zetsche, and former R.L. Polk CEO Stephen Polk, among others.
Based in Birmingham, Mich., IncWell was launched in May 2013.