Exein raises €15M for device-level IoT security

IoT security company Exein has raised €15 million in a Series B round, bringing their funding to over €23 million. 

Exein focuses on IoT security at the device level rather than the network level, embedding advanced security measures directly into the device software. 

This approach creates a digital immune system for each device, securing it independently. 

Unlike traditional network-based security methods, Exein's endpoint approach emphasises securing individual devices rather than relying solely on network defences. 

This decentralised approach ensures that manufacturers can seamlessly integrate cutting-edge security into their products, safeguarding devices from cyber threats and ensuring compliance with stringent global cybersecurity regulations being implemented.

Exein also leverages advanced AI at the edge to enhance protection, enabling real-time threat detection and response directly on the device. This innovative use of AI ensures that security measures are not only advanced but also adaptive and proactive, providing a robust defence mechanism tailored to the specific needs of each manufacturer.

Since its founding in 2018, Exein has forged strong partnerships with important industry players such as SECO, ARM, NVIDIA, AWS, and Lattice Semiconductor, continually expanding its presence and impact in the market with millions of devices already running with Exein security on board.

Exein's technology is also endorsed by The Yocto Project, part of the embedded Linux sector, operating on six billion devices annually. This solidifies its position as the industry standard for embedded security. 

Gianni Cuozzo, founder and CEO, Exein stated: 

"Embedded security is now recognised as essential. 

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.”

33N Ventures led the round, which was joined by Partech, and existing United Ventures, eCAPITAL, and Future Industry Ventures, and 

Redstone (a Redstone/SBI fund). 

Commenting on their investment, Carlos Alberto Silva, Managing Partner, 33N, adds: 

“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.”

The fresh capital will drive Exein’s ambitious global expansion plans across Europe, the US as well as Asia where a new office in Taipei will spearhead growth in the region. Exein's headcount is also expected to double within the next year.

Lead image: Exein. Photo: uncredited.