Exein secures $15M to bolster IoT device security

Exein secures $15M to bolster IoT device security is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Exein’s solution embeds security into device software, using AI at the edge to boost protection.
• The company participates in the Yocto Project, part of the embedded Linux sector, affecting 6 billion devices annually.

OUR TAKE
Exein’s approach to embedding security directly into device software represents a significant advancement in IoT cybersecurity, addressing vulnerabilities that could have severe consequences like safety risks, production disruptions and financial losses. Additionally, the company’s participation in the Yocto Project, impacting 6 billion devices annually, highlights Exein’s role in making the connected world safer and more reliable for a wide range of industries and users worldwide.
–Jennifer Yu, BTW reporter

What happened

Exein, a Rome-based IoT cybersecurity start-up, has secured $15 million in a Series B funding round led by 33N, a VC specialising in cybersecurity and infrastructure software. The funds will aid Exein’s expansion in Europe, the US, and Asia.

Exein’s innovative security solution integrates directly into device software, providing “immunisation” against cyberattacks and employing AI at the edge to boost protection. The company participates in the Yocto Project, part of the embedded Linux sector, affecting 6 billion devices annually.

Exein CEO Gianni Cuozzo emphasised their role in securing critical systems. “We secure machinery systems, CNC systems, so things that have a real impact on people’s lives. If you are an employee working with a robotic arm and something happens, you can get hurt or a production line can be stopped,” he said.

“There was no software standardisation before us. Everybody was doing their own framework and security approach. We are the first standardisation in security sanitation layer in this market,” he added.

This funding round also saw contributions from Partech and existing investors United Ventures, eCAPITAL, and Future Industry Ventures (a Redstone/SBI fund).

Also read: Common protocols used by IoT devices

Also read: IoT market: $1.1 trillion by 2026

Why it’s important

Exein’s efforts in standardising security measures within the IoT industry address a critical need for consistent and reliable security protocols.

Before Exein, the industry lacked a unified framework, with various manufacturers implementing disparate and often incompatible security measures. This fragmentation made devices more vulnerable to attacks and complicated efforts to secure IoT ecosystems.

Exein’s approach introduces a standardised layer of security sanitation, ensuring that all devices adhere to a consistent set of protections. This not only simplifies the implementation of security across different devices and systems but also enhances overall security by providing a uniform defence mechanism that is more robust and easier to manage.

Furthermore, by securing essential systems like robotic arms and CNC machinery, Exein contributes to workplace safety and production reliability, crucial for industrial operations.