Speaking to EFY’s Nitisha Dubey, Pantherun CEO Srinivas Shekhar unveiled their game-changing AES encryption, which uses AI to generate keys on its own, safeguarding vehicle communications from unauthorised access!
Q. Can you introduce Pantherun and its core technology?
A. We are a cybersecurity innovator specialising in high-performance encryption solutions for both silicon and software. Using an industry-standard approach for advanced encryption standards (AES), we have developed a patented encryption and key management system that eliminates the need for key exchange. Our keyless, no-key exchange method removes the vulnerabilities associated with complex procedures, such as delays, insecure start-up encryption, exposure to eavesdroppers, and weaknesses against quantum attacks. So, you see, our approach ensures secure AES encryption without the risks inherent in traditional key exchange methods.
Q. How does your patented approach enhance AES network security?
A. These days, intruders are always listening in networks, and it is well-known that hackers can remain undetected for months. They can monitor all data exchanges, including key exchanges, creating critical flaws. So, our patented approach enhances AES, a highly secure encryption method, by eliminating the need for key exchange. This reduces the risk of network vulnerabilities caused by key exchanges. This is the essence of our patent.
Q. How does your AI algorithm eliminate the need for AES key exchange?
A. AES encryption relies on a key with multiple key lengths available (128, 192, or 256 bits). For data to be encrypted and decrypted, a key is necessary. In the traditional AES implementation, a key exchange is required: the destination sends a key to the source, which encrypts the data and sends it back to the destination for decryption. Without key exchange, AES cannot function in its current form. Our patented approach eliminates this need by using an AI algorithm to generate keys at both the source and destination independently. The source encrypts the data, and the destination uses its AI algorithm to create a key and decrypt the data. This completely removes the need for key exchange.
Q. How does your solution differentiate itself from other competitors?
A. Others have also implemented AES but rely on key exchange. Without that, they cannot implement AES. We are the only ones who have implemented AES without key exchange, as malicious entities can intercept this process. We have ensured that no one can access the key. As a result, only encrypted data is visible, and it cannot be decrypted by unauthorised parties, significantly enhancing data security. Additionally, by eliminating key exchange, we reduce network traffic, allowing the network to focus on critical tasks and operate more efficiently.
Q. Is there a specific tenure for the use of your technology?
A. AES encryption has been a standard for about 15 to 20 years and is expected to remain for the next 35 to 40 years due to its difficulty in cracking without a key. This technology is not likely to become obsolete. The need for robust encryption will persist as data volumes continue to grow dramatically, especially with AI running on huge datasets. Therefore, it is poised to stay relevant for a long time.
Q. Which industries are you catering to?
A. Initially, we targeted mission-critical industries such as automotive, industrial, and military sectors, where we have seen significant adoption of our encryption approach. While these areas are our primary focus, our technology is also being explored for applications in smartphone encryption and personal devices like AI laptops. Although diverse industries are interested in our solutions, the fundamental sectors remain our main priority.
Q. What risks do connected cars face without proper encryption and network security?
A. Cars are increasingly connected, sharing data on road conditions and traffic and moving towards self-driving capabilities. This connectivity raises the risk of external breaches, where malicious entities could control a car’s functions, posing serious safety risks. Protecting car networks is crucial to prevent such threats. Additionally, cars store sensitive personal information like seating preferences, destinations, and locations, raising significant privacy concerns. Encrypting this data is vital for protecting privacy and preventing unauthorised access in connected vehicles.
Q. How does your encryption approach secure communication between diverse car control boards?
A. Modern vehicles in the automotive industry feature hard-wired networks with over 150 control boards managing functions like the engine, doors, infotainment systems, and dashboard. These boards must communicate, but implementing AES encryption on such diverse hardware is challenging, leaving in-car communication unprotected. Cars with on-board SIMs for external connections, like those from MG, are prone to unauthorised access. Our approach ensures all communication between control boards is secured. Thus, even if a malicious entity gains access through the SIM, it will only see encrypted data, rendering it unreadable and preventing any damage to the car’s network or systems.
Q. Are there any automotive companies currently using your services?
A. We are collaborating with companies like Intel and AMD, which have many automotive customers, and we are involved in numerous design projects using their silicon. While these designs are still in progress, we are witnessing increasing interest and adoption from the automotive industry.
Q. Is the demand for your solution higher in the Indian market or globally?
A. Our solution is focused on safeguarding individuals, making it applicable to a global and domestic market. While India still sells many economical cars, these vehicles increasingly incorporate electronics. Features like automatic window buttons, which were once rare, are now standard even in entry-level vehicles, bringing advanced electronics into nearly every car. The demand for our technology is worldwide, not limited to any particular non-Indian market. Moreover, the electric scooter market is booming, featuring numerous electronics and keyless starting systems. These advancements also require protection, as it is relatively easy for someone to spoof identities and take control of a scooter or car. Comprehensive protection is essential across all types of vehicles.
Q. What markets do you serve, and how do you access them?
A. In the automotive space, we typically work with tier-one companies, providing them with our technology to integrate into the electronics they supply to car manufacturers. For example, Mahindra and TATA have tier-one suppliers. Internationally, companies like Harman and Bosch in Europe, Delphi and Johnson Controls in the US, and Denso in Japan serve as tier-one suppliers. These names are also familiar in India, where many companies design and manufacture vehicles. The tier-one companies have R&D bases in this country as well. Additionally, companies like Continental, Hyundai Mobis, and Hyundai Autonet cater to the European and Korean markets.
Q. Do you have any upcoming partnerships or plans to expand your business?
A. Yes, as I said, we recently announced partnerships with Intel and AMD to bring our combined technologies to market. In addition to these, we are building a global reseller network. We currently have resellers in multiple European countries and are expanding our network to include the Middle East, North America, Asia, and other regions. Our go-to-market strategy relies on working with partners to grow our business.
Q. How was your last fiscal year, and what are your expectations for the next two years?
A. We experienced fourfold growth last year, and this year has started even more potent. Our revenue in the first three months surpassed the previous year’s total. Our goal is to quadruple our revenues again this time. Financially, we are on the right track and snowballing.
