Exein, a company specialising in IoT cybersecurity, secured €15m in a Series B funding round. This round was led by 33N, an investor focused on cybersecurity and infrastructure software, with participation from Partech.
Continued backing from existing investors United Ventures, eCAPITAL, and Future Industry Ventures (a Redstone/SBI fund) was also evident. The new funding will fuel Exein’s expansive global growth strategy, with significant expansions planned across Europe, the US, and Asia, including a new office in Taipei to spearhead regional growth. Exein anticipates doubling its workforce within the next year.
Exein transforms IoT security by embedding advanced security measures directly into device software, rather than relying on network-level security. This approach establishes a digital immune system for each device, securing it independently. Unlike traditional methods, Exein’s focus on endpoints ensures that each device is safeguarded, facilitating the integration of top-tier security into products and ensuring compliance with rigorous global cybersecurity regulations.
Moreover, Exein employs advanced AI at the edge to bolster protection, allowing for real-time threat detection and response directly on the device. This innovative use of AI provides adaptive and proactive security measures, offering robust defence mechanisms tailored to the specific needs of each manufacturer.
Exein’s technology is now a cornerstone of all Yocto Project initiatives, a key player in the embedded Linux sector, which operates on six billion devices annually. This endorsement cements Exein’s role as a crucial security component in the market, establishing it as the industry standard for embedded security. Since its inception in 2018, Exein has established significant partnerships with industry leaders such as SECO, ARM, NVIDIA, AWS, and Lattice Semiconductor, continuously expanding its market presence with millions of devices now incorporating Exein’s security solutions.
Gianni Cuozzo, Founder & CEO, Exein states: “Embedded security is now recognised 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 decentralised 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, US, and Asia, driven by our mission to create a safer digital world.”
Commenting on their investment, Carlos Alberto Silva, Managing Partner, 33N, adds: “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.”
