Cyber-security startup TowerSec
has landed an investment from venture capital firm IncWell, helping bring its technology to the automotive industry.
"It's something we see scaling very quickly," Sophia Kahn, project manager for IncWell
The Ann Arbor-based startup specializes in beefing up cyber security for automobiles. The idea is that as cars are becoming bigger targets for hackers now with the advent of infotainment and driverless automotive technologies. So not only could hackers steal a motorist’s identity while driving but even take control of the car.
"It's a growing concern with cars becoming more connected," Kahn says.
IncWell is a Birmingham-based venture capital firm that invests in technology startups. Some of its other investments include CureLauncher
(a Bloomfield Hills-based startup that refers to itself as the Wikipedia of clinical trials) and iRule
, a downtown Detroit-based home entertainment startup.
IncWell's investment in TowerSec was part of seed round for the startup. Kahn declined to say who led the seed round, who else participated in it, the total amount raised in the round, or the size of IncWell's investment.
Kahn also declined to detail much about TowerSec’s platform besides that it is designed as a business-to-business play aimed at commercial and fleet vehicles. She adds that TowerSec's platform is "integration ready" in its development but wouldn't explain further what that specifically meant.
Source: Sophia Kahn, project manager for IncWell
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.