By now we know a lot about computer cybersecurity, but what happens when a robotic arm on a production line is hacked and instructed to kill its human coworkers? This “device security” is a thorny problem that Rome-based startup Exein is tackling.
The IoT cybersecurity company has raised €15 million in a Series B round led by 33N, a venture capital firm specializing in cybersecurity and infrastructure software. The funds will be used to expand operations in Europe, the US and Asia.
Exein's IoT security solution seeks to build security measures directly into device software to “protect” devices from attacks, and the company said in a statement that it also uses AI at the edge to provide added protection.
The company is also part of the Yocto Project initiative, part of the embedded Linux sector, which powers 6 billion devices annually.
“For example, we protect mechanical systems, CNC systems, things that really impact people's lives,” Exane CEO Gianni Cuozzo said. “If you're an employee working with a robotic arm and something happens, you could get injured or the production line could stop.”
“Before us, there was no software standardization; everyone had their own framework and approach to security. We were the first to standardize the security sanitation layer in this market,” he added.
Partech was joined in the funding round by existing investors United Ventures, eCAPITAL and Future Industry Ventures (Redstone/SBI Fund).