Ambarella Inc AMBA

NAS: AMBA | ISIN: KYG037AX1015   26/04/2024
43,09 USD (+1,87%)
(+1,87%)   26/04/2024

Canopy Security, a Ford, ADT-backed joint venture, announces their Pickup Cam is now available for shipping nationwide via e-commerce site

Canopy also announces partnerships with Ambarella and Upstream Security to support product debut.

DETROIT, Oct. 30, 2023 /PRNewswire/ -- Canopy, a smart vehicle security startup, launched its first product, Canopy Pickup Cam, which is now available nationwide via their e-commerce site. Canopy was created in response to an increasing number of tradespeople and truck owners losing valuable tools, equipment, and gear to theft. The Pickup Cam is a connected security camera for pickup trucks, designed to provide real-time truck bed monitoring when the vehicle is parked and the owner is away.

To optimize their product debut, Canopy just concluded a 4-week rigorous and comprehensive beta testing pilot conducted with close to 100 truck owners across the country. As a result, Canopy was able to validate the product in real world conditions that trucks would encounter on an everyday basis and confirm a premium product for full customer satisfaction.

"Canopy is committed to delivering a no compromise, quality product to our customers," said Canopy CEO Christian Moran. "This is why we underwent our beta pilot testing. Through the learnings we uncovered during this period, we were able to validate and refine the product to ultimately deliver exceptional vehicle security monitoring."

Today, Canopy also announced two partnerships to support their product debut–with Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, as well as Upstream Security, the leading provider of the cybersecurity detection and response platform for the mobility and transportation industry. Canopy's Pickup Cam uses Ambarella's CV25AI computer vision system-on-chip (SoC) to detect threats such as reach-ins and tampering while reducing false alerts for truck owners. The CV25's power efficiency enables the Pickup Cam to provide comprehensive threat detection and alerts for extended periods of time. Separately, to ensure the system is monitored and protected against cyber threats, Canopy has leveraged Upstream's unique detection and response platform and product-centric threat intelligence. This will ensure Canopy mitigates cyber risks to deliver the most innovative and agile product to customers.

Canopy retails for $299 with a subscription of $14.99 per month. The subscription fee allows Canopy to protect you anywhere your vehicle is located at any time. The subscription also enables several connected benefits including 4G LTE connectivity, secure cloud storage for your data, real-time alerts, and access to future software updates and new feature rollouts.

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MEDIA CONTACT: 
Summer Richie
Summer.Richie@hkstrategies.com 

ABOUT CANOPY
Founded in 2022 and backed by Ford and ADT, Canopy is on a mission to end vehicle theft and revolutionize security with cutting-edge technology. With offices in both the U.S. and UK, the Pickup Cam is designed in Detroit and is available in the U.S. for the industry's highest-volume commercial and retail pickups. It is easily installable by customers to successfully protect expensive work and recreational equipment. In 2024, Canopy plans to launch an industry-first, AI-power security system with available professional monitoring for vans in the US and UK. For more information, visit www.canopy.security/ and follow Canopy on Facebook @CanopySecurity, and Instagram @canopysecurity, and Twitter @canopy_security, and Tik Tok @canopysecurity.

ABOUT UPSTREAM SECURITY 
Upstream provides a cloud-based data management platform purpose-built for connected vehicles, delivering unparalleled automotive cybersecurity detection and response (V-XDR) and data-driven applications. The Upstream Platform unlocks the value of vehicle data, empowering customers to build connected vehicle applications by transforming highly distributed vehicle data into centralized, structured, contextualized data lakes. Coupled with AutoThreat® Intelligence, the first automotive cybersecurity threat intelligence solution, Upstream provides industry-leading cyber threat protection and actionable insights, seamlessly integrated into the customer's environment and vehicle security operations centers (vSOC). For more information, visit: www.upstream.auto.

ABOUT AMBARELLA 
Ambarella's products are used in a wide variety of human vision and edge AI applications, including video security, advanced driver assistance systems (ADAS), electronic mirror, drive recorder, driver/cabin monitoring, autonomous driving and robotics applications. Ambarella's low-power systems-on-chip (SoCs) offer high-resolution video compression, advanced image and radar processing, and powerful deep neural network processing to enable intelligent perception, fusion and planning. For more information, please visit www.ambarella.com.

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SOURCE Canopy

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