Italian IoT-embedded cybersecurity firm Exein on Friday announced raising €15 million (approximately $16.3 million) in Series B funding, which brings the total raised by the company to over $25 million.
Founded in 2018, the Rome-based company provides cybersecurity solutions embedded directly into the IoT devices’ software, to secure products independently instead of deploying protections at the network level.
According to the company, its decentralized approach allows device manufacturers to implement advanced security capabilities into their products and ensure compliance with global regulations.
To improve protection, Exein uses advanced AI at the edge, for adaptive and proactive security that delivers threat detection and response in real time, directly on the device.
Exein says its solution has been integrated by OEMs and semiconductor makers across the industrial, automotive, and aerospace industries, protecting over 80 million IoT devices daily. The technology is also used across Yocto Project initiatives, which operates 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.
Exein will use the investment to expand across Europe, the US, and Asia and to double its employee base over the next year.
“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,” Exein founder and CEO Gianni Cuozzo says.
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