Our Continued Investment in Exein

July 12th, 2024

Today, our portfolio company Exein announced the successful raise of €15 million in a Series B funding round. The round was led by 33N, a specialized cybersecurity and infrastructure software investor, and joined by Partech. Existing investors United Ventures, eCAPITAL, and Future Industry Ventures (a Redstone/SBI fund) also participated. The new funding will enable Exein to drive its ambitious global expansion plans, including the opening of a new office in Taipei to spearhead growth in Asia. The company also expects to double its headcount within the next year, further solidifying its global influence.

In today’s digital world, connected devices are everywhere—from homes and cars to cities and critical infrastructure. Manufacturers need advanced, seamless embedded security, and Exein delivers precisely that. Using its advanced edge AI capabilities, Exein protects over 80 million IoT devices daily across the industrial, automotive, and aerospace sectors by integrating with OEMs and semiconductor manufacturers.

Exein revolutionizes IoT security by focusing on the device 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 emphasizes securing individual devices rather than relying solely on network defenses. This decentralized 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.

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 advanced but also adaptive and proactive, providing a robust defense mechanism tailored to each manufacturer’s specific needs.

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.

Our 2018 investment in Exein perfectly illustrates the power of our investment thesis: identifying and supporting transformative technologies before they reach mainstream adoption. Back then, embedded security was a niche concern, overlooked by most investors. Today, its critical importance is undeniable. This example underscores our commitment to recognize and capitalize on emerging trends ahead of the curve.

Founder and CEO Gianni Cuozzo has consistently advocated for security-by-design as the only viable approach to connected device security and pioneered a decentralized approach. In our increasingly connected world, every device must be equipped with cutting-edge cybersecurity capabilities, and it’s exciting to see Exein expanding its presence across Europe, the US, and Asia.

We’re thrilled to continue our partnership with Gianni and the entire Exein team as they work towards setting the global standard for embedded cybersecurity and creating a safer digital world 🛡️

PRESS RELEASE (ITEN)

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