Rome-based Exein, an Italian company focused on embedded IoT cybersecurity, has secured €70M in a Series C funding round.
The investment was led by Balderton, with participation from Supernova and Lakestar. Existing investors 33N, United Ventures, and Partech also took part.
Elena Moneta, Principal at Balderton, says, “We’re living in an era where everything — from rail networks to industrial machinery — is connected, and therefore exposed. As critical infrastructure becomes increasingly software-defined and networked, the risks multiply, especially with AI enabling attackers to hit more targets faster than ever before. And they are no longer breaching through the front door; the microwave on a military ship, or the smart fish tank in a hospital waiting room – any one of these could be exploited to compromise the entire network.”
“Exein tackles this threat where it begins: on the device itself, embedding real-time security on the edge — continuously monitoring, learning, and responding in real time. There is no better team to take on this challenge, and we are immensely proud to be partnering with Gianni and team as they build the cybersecurity foundation for the AI-powered, hyper-connected world ahead.”
Next-gen embedded cybersecurity
Founded in 2018, Exein is addressing the rise in cyberattacks targeting smart devices, which have become entry points into systems at businesses and organisations.
According to the company, one in three data breaches involves an IoT device, and many are linked to state-sponsored actors. Exein’s focus is on securing these devices, including those used in railway networks and healthcare providers.
The company is building a digital immune system for connected devices. This system operates at the device level rather than relying solely on network-based defences. Exein’s approach allows manufacturers to integrate security tools directly into their products. This helps meet global cybersecurity regulations, including Europe’s NIS2 directive, the upcoming Cyber Resilience Act, and the US Cyber Trust Mark.
The company provides AI-enabled, real-time threat detection for industries such as infrastructure, semiconductors, energy, automotive, healthcare, and robotics. It secures over one billion smart devices globally and works with chipset and OEM/ODM manufacturers like MediaTek, Supermicro, Kontron, SECO, and AAEON.
Capital utilisation
Experiencing over 450 per cent year-over-year growth, Exein is also expanding into runtime security for AI infrastructure and large language models (LLMs). These solutions focus on securing AI systems operating within devices, rather than through centralised cloud platforms.
The funds will support Exein’s expansion into the US, Japan, Taiwan, and South Korea, strengthen its operations in Europe, and enable the company to pursue M&A opportunities within the cybersecurity sector.
Gianni Cuozzo, founder & CEO of Exein, says, “Exein’s extraordinary growth is a testament to the urgent demand to secure devices which are ubiquitous in our everyday lives. Embedded security at the device level is fundamental, and we are proud to support manufacturers in providing the highest levels of security, offering them confidence in knowing they are compliant with the latest security legislation.”
“I’m extremely proud to be fortifying the foundations of European tech innovation, and to have the trust of our partners and investors as we expand globally and continue our mission of building the digital immune system for the connected world.”
