Rome-based cybersecurity firm Exein has raised €70 million in Series C funding to expand its protection of critical infrastructure against backdoor attacks through connected devices.
Balderton led the round, with new investors Supernova and Lakestar joining existing backers 33N, United Ventures, and Partech.
The funding comes as hackers increasingly target smart devices as entry points into critical systems. One in three cyber attacks on companies now involves connected devices, creating urgent demand for specialised IoT security solutions.
Founded by repeat entrepreneur and cyber intelligence veteran Gianni Cuozzo, Exein has become the world’s largest embedded runtime security provider. The company currently protects over one billion connected devices globally and is experiencing explosive growth of more than 450% year-over-year.
Exein’s AI-enabled platform provides real-time threat detection across critical infrastructure, semiconductors, energy, automotive, healthcare, and robotics sectors. The company has forged strategic partnerships with leading manufacturers, including MediaTek, Supermicro, Kontron, SECO, and AAEON.
The fresh capital will fuel Exein’s global expansion into the US, Japan, Taiwan, and South Korea, while strengthening its European operations. The company is also developing runtime security solutions for AI infrastructure and large language models operating within devices, rather than centralised cloud environments.
“Exein’s extraordinary growth is a testament to the urgent demand to secure devices which are ubiquitous in our everyday lives,” said Gianni Cuozzo, Founder & CEO, of Exein.
“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.”