July 15, 2024 at 10:06AM
Italian cybersecurity firm Exein raised €15 million in Series B funding, bringing their total funding to over $25 million. Founded in 2018, the Rome-based company offers embedded cybersecurity solutions for IoT devices, utilizing decentralized approach and advanced AI for real-time threat detection. The funding will support their expansion across Europe, US, and Asia.
Key takeaways from the meeting notes:
– Exein, an Italian IoT-embedded cybersecurity firm, has raised €15 million in Series B funding, totaling to over $25 million raised by the company since its establishment in 2018.
– The Rome-based company offers cybersecurity solutions embedded directly into IoT devices’ software, allowing for independent product security instead of network-level protection.
– Exein’s decentralized approach enables device manufacturers to integrate advanced security capabilities into their products and ensure compliance with global regulations.
– The company utilizes advanced AI at the edge for proactive security, providing real-time threat detection and response directly on the device.
– Exein’s solution has been integrated by OEMs and semiconductor makers across industrial, automotive, and aerospace industries, protecting over 80 million IoT devices daily and is also used across Yocto Project initiatives, operating on billions of devices annually.
– The new funding round was led by 33N, with additional support from Partech and previous investors eCAPITAL, Future Industry Ventures, and United Ventures.
– The investment will be used to expand across Europe, the US, and Asia and to double the company’s employee base over the next year.
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