Empowering IoT developers to build safer devices: our continued investment in Exein
September 22nd, 2021
United Ventures first partnered with Exein in 2018, as the first investor in the company. Today we’re excited to continue our commitment to the team and their huge impact on the cybersecurity industry by participating in their €6M Series A, co-led by Future Industry Ventures and eCAPITAL Entrepreneurial Partners.
The funding will fuel the company’s architectural product expansion that will bring Exein capabilities also to other markets such as Industrial IoT, Automotive and Medical IoT as well as the accompanying upcoming tech hirings.
At the core of our 2018 investment was the conviction that a universal way to embed security into our digital life was missing. In the last 15 years, embedded security had seen no improvement, and the external approach was outdated and ineffective. When we first met Exein’s founder Gianni Cuozzo, we got struck by his vision to build a new defensive strategy involving making systems safe from the inside out. Furthermore, Gianni had already proven excellence in combining entrepreneurial and technical capability in his previous ventures, and we know well that critical to the success of any startup is the people at the helm.
In just a few years, we’ve watched Exein establish itself as a reference player in the IoT cybersecurity space. Up until this point, Exein has been able to secure key global partnerships in the critical infrastructure, automotive, and network infrastructure industries and its embedded technology is actively protecting more than 600’000 IoT devices every day.
There’s a long way left to go, but we are even more excited about the future of Exein than we were when we made our initial investment. We can’t wait to continue working with Gianni and the team at Exein as they consolidate and expand their platform and capabilities, ensuring developers will have the tools they need to efficiently and effectively secure IoT devices from embedded vulnerabilities.
Congratulations Exein on this important milestone!
UV2’s investment in Exein is also supported by the European Investment Fund through InnovFin Equity, with financial backing from the European Union under the financial instruments of Horizon 2020 and the European Fund for Strategic Investments (“EFSI”) established under the Investment Plan for Europe. The purpose of EFSI is to support the financing and implementation of productive investments in the European Union and ensure greater access to finance.