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Embedded IoT cybersecurity company Exein raised a €70 million Series C led by Balderton, CEO Gianni Cuozzo tells Axios Pro exclusively.

Why it matters: Every connected device — coffee maker, a smart TV or an aquarium — is a pathway into your network and needs protection.

Case in point: Cybercriminals once hacked into a casino's aquarium to steal data.

How it works: The company embeds a security layer directly into a device's software and uses AI for real-time threat detection and response.

Exein sells to large manufacturers, including MediaTek, Supermicro, Kontron and AAEON, as well as directly to companies looking to protect devices in the industrial, automotive and aerospace sectors.

By the numbers: The company decided to raise after experiencing 450% growth in ARR through the last 12 months, Cuozzo says.

Exein works with approximately 120 customers and secures more than a billion smart devices globally.

Zoom in: Supernova, Lakestar, 33N, United Ventures and Partech all participated in the round. Founded in 2018, the Rome-based Exein has raised €93 million to date. It will use the money to expand in APAC, EMEA and North America.

What's next: The company is developing runtime security solutions to secure AI infrastructure and LLMs running on private servers that will not commute power or energy use.

The bottom line: Hackers getting access to your coffee machine will disrupt a lot more than your morning caffeine intake.

Exclusive: Exein raises €70m Series C for IoT security

Balderton led the Series C round for the IoT security company.

Illustration of a laptop with an open lock at the top

Embedded IoT cybersecurity company Exein raised a €70 million Series C led by Balderton, CEO Gianni Cuozzo tells Axios Pro exclusively.Why it matters: Every connected device — coffee maker, a smart TV or an aquarium — is a pathway into your network and needs protection.

Exclusive: Exein raises €70m Series C for IoT security

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