Exein Secures €70 Million Funding to Accelerate Global Expansion and Embedded Cybersecurity Innovation

Italian cybersecurity firm Exein has secured a significant defense boost by closing a €70 million Series C funding round aimed at accelerating its global expansion and product development. The funding raises Exein’s total capital raised to over $106 million and values the company at more than €250 million2412.

Founded in 2018 and based in Rome, Exein specializes in embedded cybersecurity for IoT devices, delivering advanced security at the device (firmware) level rather than relying solely on network defenses. Its technology is currently embedded in around 1.5 billion devices spanning industrial, automotive, aerospace, and AI infrastructure sectors12.

The Series C round was led by Balderton Capital, joined by investors including Supernova, Lakestar, 33N, United Ventures, and Partech. This round will support Exein’s ambitious plans to expand in high-growth markets such as the United States, Japan, Taiwan, and South Korea, while also fueling acquisitions and research focused on artificial intelligence infrastructure security246.

Exein’s CEO, Gianni Cuozzo, highlighted a fundamental shift from traditional network security to embedded security at the edge, comparing it to a momentous transition akin to "Symbian to the iPhone." The company targets revenue of €20 million in 2025 with triple-digit growth in the following three years, driven in part by acquisitions and developing partnerships with chipset manufacturers29.

The uptick in European defense spending, motivated by NATO targets and security concerns over geopolitical tensions, is further supporting domestic growth for Exein. The company plans a public listing by 2029-2030 after further scaling9.

In essence, Exein is positioning itself as a category-defining player in securing connected hardware at the firmware level, creating a digital immune system to protect devices independently from network vulnerabilities. This approach meets growing market demands, especially as organizations reduce reliance on cloud-based systems due to data sovereignty and cost considerations19.

Key points:

These developments underscore Exein’s growing influence in the cybersecurity domain, particularly in embedded security, driven by strong investor confidence and a rising global need for advanced protection of connected devices24912.