Exein raised $15M Series B to stop robotic arms going haywire
By now, we’re all pretty familiar with cybersecurity for computers. But what would happen if a robotic arm on a production line was hacked and instructed to kill its human co-worker? That "device security" is the kind of thorny problem that Rome-based startup Exein is tackling.
The IoT cybersecurity company has now raised €15 million in a Series B round led by 33N, a VC that specializes in cybersecurity and infrastructure software. The capital will be used to expand in Europe, the U.S. and Asia.
Exein’s IoT security solution embeds security measures directly into device software, effectively trying to “immunize” the device from attacks. It also uses AI at the edge to enhance protection, the company said in a statement.
The company is also involved in the Yocto Project initiatives, part of the embedded Linux sector, which operates on 6 billion devices annually.
“For instance, we secure machinery systems, CNC systems, so things that actually have a real impact in the lives of people," said Exein CEO Gianni Cuozzo. "If you are an employee working with a robotic arm and something happens, you can get hurt or a production line can be stopped.”
“There was no software standardization before us. Everybody was doing their own framework and security approach. We are the first standardization in security sanitation layer in this market,” he added.
The funding round was also joined by Partech, as well as existing investors United Ventures, eCAPITAL and Future Industry Ventures (a Redstone/SBI fund).
