Italian Cybersecurity Startup Exein Raises €70M Series C to Secure IoT Devices

Exein’s key strength is its on-device “digital immune system” that protects smart gadgets—like fridges, thermostats, and wearables—without relying on the cloud, making it harder for hackers to attack.

Founded in 2018, Exein is building next-gen cybersecurity for IoT devices. Its technology helps organizations worldwide create secure, embedded systems with built-in protection, making connected devices safer by design.

The company already secures over 1 billion devices globally through partnerships with major chipmakers like Supermicro, Mediatek, and Kontron. With the new funding, Exein plans to grow in Europe and expand into the US and Asia.

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Founded in 2012 by Klaus Hommels, Lakestar is one of Europe’s top venture capital firms, with over €2 billion raised across early and growth-stage funds. It backs transformative tech startups from seed to scale, offering hands-on support in product, tech, go-to-market, talent, and regulation.

“As critical infrastructure becomes increasingly software-defined and networked, the risks multiply, especially with AI enabling attackers to hit more targets faster than ever before,” says Elena Moneta, principal at Balderton.

Founded in 2000, Balderton Capital is a multistage venture firm with 20+ years of experience. It supports top European tech founders from seed to IPO, with both early and growth-stage funds. The firm invests across the technology sector, helping build and scale innovative startups across Europe.

“The microwave on a military ship, or the smart fish tank in a hospital waiting room, any one of these could be exploited to compromise the entire network,” she adds. “Exein tackles this threat where it begins: on the device itself, embedding real-time security on the edge.”