Exein funding news – Rome-based Exein Secures €15 Million in Series B Round Funding
Jul 12, 2024 | By Team SR
Exein, a Rome-based embedded IoT cybersecurity startup, has raised €15 million in a series B round of funding led by infrastructure software and cybersecurity focused investor 33N, with Partech also participating.
SUMMARY
- Exein, a Rome-based embedded IoT cybersecurity startup, has raised €15 million funding
- Founded in 2018, Exein uses its cutting-edge edge AI capabilities to integrate with OEMs and semiconductor manufacturers to protect over 80 million IoT devices every day in the industrial, automotive, and aerospace industries.
Existing investors eCAPITAL, Future Industry Ventures (a Redstone/SBI fund), and United Ventures continued to support the round. It's ambitious intentions to expand globally across Europe, the US, and Asia will be powered by the new funding, with a new office in Taipei leading the way in regional growth. It is anticipated that Exein's workforce would quadruple in the upcoming year.
In order to improve security, it also makes use of cutting-edge AI at the edge, allowing for immediate threat detection and reaction on the device. This creative application of AI guarantees that security protocols are not only cutting edge but also proactive and adaptable, offering a strong defensive system customised to meet the unique requirements of every manufacturer.
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These days, it's technology is essential to every Yocto Project endeavour. Yocto, with six billion devices under its control annually, is a major player in the embedded Linux space. With this endorsement, it's standing as the industry standard for embedded security is cemented and it is positioned as a crucial security component in the market.
With millions of devices already using it's security, Exein has established solid alliances with major players in the market since its creation in 2018 including SECO, ARM, NVIDIA, AWS, and Lattice Semiconductor. As a result, Exein is constantly growing its footprint and influence in the market.
Gianni Cuozzo, Founder & CEO of Exein, stated: “Embedded security is now recognized as essential. We are already living in a digital world and connected devices permeate every aspect of our lives—from homes and cars to cities and critical infrastructure. Manufacturers need advanced, seamless embedded security, and Exein delivers just that. We have always advocated for security by design as the only viable approach to connected device security and I am proud that we have pioneered a decentralized approach to security. In our increasingly connected world, every device must be equipped with cutting-edge cybersecurity capabilities and I am excited to expand our presence across Europe, the US, and Asia, driven by our mission to create a safer digital world.”
Carlos Alberto Silva, Managing Partner at 33N, added: “Our investment in Exein reflects our commitment to back the most innovative cybersecurity companies in Europe and beyond. There is exponential growth in the number of connected devices, especially in high-risk industries like robotics, space infrastructure, and biotechnology, all of which require state-of-the-art security. Exein saw this opportunity well before anyone else in the market. They have developed technologies that set the global standard for embedded cybersecurity. With the rise of regulatory frameworks worldwide, the demand for embedded security will only increase, and Exein is poised to lead this critical market.”
About Exein
Founded in 2018, Exein uses its cutting-edge edge AI capabilities to integrate with OEMs and semiconductor manufacturers to protect over 80 million IoT devices every day in the industrial, automotive, and aerospace industries. By integrating cutting-edge security features straight into the software of the device, Exein transforms IoT security by concentrating on the device level as opposed to the network level.
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