Exein raises €15m in Series B

Exein protects more than 80 million IoT devices daily across the industrial, automotive, and aerospace sectors by integrating with OEMs and semiconductor manufacturers with its advanced edge AI capabilities.

Rome, Italy, 12th July 2024: Exein, the embedded IoT cybersecurity company, has raised €15m in a Series B round. The round was led by 33N, a specialised investor in cybersecurity and infrastructure software, and joined by Partech. The round also saw continued support from existing investors United Ventures, eCAPITAL, and Future Industry Ventures (a Redstone/SBI fund). 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.

Exein revolutionises IoT security by focusing 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.

Exein's technology is now integral to all Yocto Project initiatives. Yocto is a leading force in the embedded Linux sector, operating on six billion devices annually. This endorsement positions Exein as an essential security component in the market, solidifying its position as the industry standard for embedded security. 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.

Gianni Cuozzo, Founder & CEO, Exein states: "Embedded security is now recognized as essential. We are already living in a digital world and connected devices permeate every aspect of our lives—from homes and cars to cities and critical infrastructure. 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 and I am excited to expand our presence across Europe, US, and Asia, driven by
our mission to create a safer digital world.”

Commenting on their investment, Carlos Alberto Silva, Managing Partner, 33N, adds: “Our investment in Exein reflects our commitment to back the most innovative cybersecurity companies in Europe and beyond. 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.”

About Exein
Exein is a leading embedded IoT cybersecurity company headquartered in Rome, Italy, with offices in Germany and US. Exein focuses on device-level security, embedding advanced security measures directly into device software. Leveraging edge AI for real-time threat detection and response, Exein protects over 80 million devices daily across various sectors including industrial, automotive, and aerospace. Exein is committed to setting the global standard for embedded cybersecurity and building the immune system for digital life.

About 33N
33N is a specialized cybersecurity and infrastructure software European venture capital fund investing globally. 33N is made up of an experienced and established international team investing in the space for the last 10 years. The fund is supported by a strong Strategic Committee and Advisory Board encompassing 40+ top entrepreneurs, experts and decision-makers spread worldwide and across the industry. Find more about 33N at https://33n.vc.

About Partech
Partech is a global tech investment firm headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. We are a team made up of independent thinkers. We are unconstrained by hype, trends or fixed ways of working. We believe in the power of alliance in action, working together and side-by-side with the founders we back, in the shared pursuit of success. We bring together capital, operational experience and strategic support for the entrepreneurs we back from seed through to growth stage. Born in San Francisco 40 years ago, today we manage €2.5B AUM and our current portfolio of 220 companies in 40 countries, across 4 continents.