Italian startup Exein raises 70 million to bring IoT security to global scale

Italian start-up Exein, which offers cybersecurity solutions embedded in connected devices, which in the IoT era are virtually all, has raised EUR 70 million in a Series C funding round. The raising was led by UK venture capital fund Balderton, with Supernova and Lakestar, with participation from existing investors 33N, Italy's United Ventures and Partech.

In January, the company, born in 2018, had announced a big deal with MediaTek, among the largest chipmakers: today Exein protects over a billion devices worldwide through other partnerships with Supermicro, Kontron, SECO and AAEON, and according to rumours more are coming soon.

"For us, the greatest satisfaction is to have become an international reality from Rome. 50% of our turnover comes from the Apac (Asia-Pacific) region, then 30% from the United States and 20% from Europe. And within this last 20 per cent, 30 per cent we realise in Italy,' explains Gianni Cuozzo, founder and CEO of Exein. 'Our headquarters are in Rome, where about fifty people work, or half of the group. The other locations are in Germany, San Francisco (USA) and Taipei (Taiwan)'..

The company has developed a set of solutions that integrate advanced security features within connected devices, with real-time threat detection enhanced by artificial intelligence in sectors such as critical infrastructure, semiconductors, energy, automotive, healthcare and robotics.

The new capital will support the company's global expansion plans, with a focus on the US, Japan, Taiwan, and South Korea, as well as strengthening Europe. 'This round will help us to structure our sales operations more solidly, especially abroad,' he continues. 'We sell high technology and therefore need a support structure to facilitate the integration of our technology with our customers. There is also an acquisition in sight. Generally Italy is a victim of acquisitions, but we are running very fast and we want to reverse the trend'..