Exein raises €70M to protect critical infrastructure from back door attacks

Embedded IoT cybersecurity company Exein has raised €70 million in a Series C round to fuel its ambitious global expansion across the US, Japan, Taiwan, and South Korea, while reinforcing its established presence in Europe.

Hackers, including many state-sponsored groups, increasingly target smart devices as entry points into critical business and organisational systems, with IoT devices involved in one out of every three data breaches. 

Exein, which secures more than a billion smart devices globally, including critical infrastructure for railway networks and healthcare providers, is creating a digital immune system for connected devices, which is fast becoming the global standard for embedded IoT security. 

Exein provides AI-powered, real-time threat detection across vital sectors such as critical infrastructure, semiconductors, energy, automotive, healthcare, and robotics. 

By focusing on an end-point security model, Exein creates a digital immune system that protects individual devices rather than depending solely on network-level defences. 

This decentralised approach enables manufacturers to effortlessly embed cutting-edge security tools into their products, helping to protect against cyber threats while ensuring compliance with strict global cybersecurity regulations like Europe’s NIS2 and the upcoming Cyber Resilience Act, set to take effect in 2026, as well as the US Cyber Trust Mark.

Gianni Cuozzo, Founder & CEO of Exein, shared: 

Exein’s extraordinary growth is a testament to the urgent demand to secure devices which are ubiquitous in our everyday lives. Embedded security at the device level is fundamental, and we are proud to support manufacturers in providing the highest levels of security, offering them confidence in knowing they are compliant with the latest security legislation. 

I’m extremely proud to be fortifying the foundations of European tech innovation, and to have the trust of our partners and investors as we expand globally and continue our mission of building the digital immune system for the connected world.

Achieving over 450 per cent year-over-year growth, Exein has formed strategic partnerships with the world’s leading chipset and OEM/ODM manufacturers, including MediaTek, Supermicro, Kontron, SECO and AAEON. 

The round was led by Balderton and joined by Supernova and Lakestar, with 33N, United Ventures and Partech following on from the previous round. 

Elena Moneta, Principal at Balderton, highlights that we are in a time when virtually everything, including rail networks and industrial equipment, is interconnected and consequently vulnerable:

As critical infrastructure becomes increasingly software-defined and networked, the risks multiply, especially with AI enabling attackers to hit more targets faster than ever before. And they are no longer breaching through the front door; the microwave on a military ship, or the smart fish tank in a hospital waiting room - any one of these could be exploited to compromise the entire network. 

Exein tackles this threat where it begins: on the device itself, embedding real-time security on the edge — continuously monitoring, learning, and responding in real time. There is no better team to take on this challenge, and we are immensely proud to be partnering with Gianni and team as they build the cybersecurity foundation for the AI-powered, hyper-connected world ahead.

As part of Exein’s strategic global expansion, the company is also developing runtime security solutions to secure AI infrastructure and large language models (LLMs), addressing the growing demand to secure AI and LLMs operating within devices, rather than in a centralised cloud environment. 

Additionally, the funding will support Exein’s pursuit of strategic M&A opportunities in the cybersecurity industry, further enhancing its growth plans.

Lead image: Exein team, Gianni Cuozzo (CEO), Gerardo Gagliardo (CFO) and Giovanni Falcione (CTO) | Photo: Uncredited