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TXOne Networks Scores $51M Series B Extension

ICS and OT security startup TXOne Networks secures $51 million in a Series B extension and adds new investors from Taiwan.

TXOne Networks, a startup building technology to protect industrial control systems (ICS) and operational technology (OT) environments, has attracted $51 million in early-stage financing from new investors in Taiwan.

The Taipei company, originally created in 2018 as a joint-venture between Trend Micro and Moxa, said the $51 million is an extension to a $70 million Series B round announced in August 2022.

​​TXOne ceased to be a joint venture between Trend Micro and MOXA two years ago but both companies remain investors in TXOne.

The company, which maintains a presence in Texas, has raised a total of $145 million from TGVest Capital, Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P.

The company said new investors in the latest round include the Taiwania Capital and Applied Ventures ITIC Innovation Fund, L.P. (AVITIC), a joint fund of Applied Ventures, LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).

The company offers security gateways, endpoint agents and network segmentation solutions designed to help organizations secure, control and monitor equipment and operational technology (OT).

TXOne said its technology is currently used by more than 3,600 organizations globally in industries including semiconductors, automotive, pharmaceutical, food and beverage, public transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace.

Related: TXOne Unveils New OT Network Security Appliance for SMBs

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Related: TXOne Networks Unveils First Industrial Cybersecurity Product

Related: Trend Micro, Moxa Form New IIoT Security Company

Related: TXOne Networks Scores $70M Series B Investment 

Written By

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.


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