Key Points
- Italian cybersecurity startup Exein raised €70 million ($81 million) in a new funding round.
- The company plans to use the money for global expansion, targeting the U.S. and Asia.
- Growth is being driven by increased European defense spending and a move away from cloud-based systems.
- Exein specializes in “embedded cybersecurity,” which involves placing security directly on small devices and chips.
Italian tech firm Exein announced that it has closed a € 70 million ($81 million) funding round to fuel its global expansion plans. The company, which specializes in cybersecurity for small, connected devices, says a surge in European defense spending is helping to drive its growth at home.
Exein’s CEO, Gianni Cuozzo, explained that the company is capitalizing on two major trends. First, as European nations increase their defense budgets to meet NATO goals and protect against Russian threats, they are demanding more homegrown cybersecurity systems. Second, many companies are moving away from traditional cloud-based security due to rising costs and concerns over who controls their data. Exein’s technology embeds security directly into devices and chips, offering a distinct solution.
With the new funding, the startup plans to expand its presence across the United States, Japan, Taiwan, and South Korea, while also strengthening its position in Europe. The company’s strategy includes acquiring other firms in Europe and the U.S. to attract new customers. Cuozzo also mentioned plans for another funding round to finance a “bigger acquisition” before aiming for a public listing between 2029 and 2030.
The lead investor, Balderton, highlighted the growing need for Exein’s technology. They pointed out that modern cyberattacks often target unexpected weak points, like a smart microwave on a military ship or a fish tank in a hospital, to compromise an entire network. Exein’s clients already include major companies like MediaTek and Daikin.
