Italy-based cybersecurity platform Exein has reportedly collected €6m in a funding round.
These funds have been earmarked to support the CyberTech company’s product expansion efforts, with a focus on industrial, automotive and medial IoT devices, according to a report from Tech.eu. As part of this expansion, the company hopes to hire more staff.
Future Industry Ventures and eCAPITAL Entrepreneurial Partners served as the co-lead investors to the round. Support also came from United Ventures.
Exein, which was founded in 2018, claims to be the first open source IoT security framework. Its technology leverages AI to protect any device locally, whilst maintaining the privacy and security of the device’s data.
The technology also implements machine learning algorithms that can monitor the expected behaviour of a user and leverage this understanding to uncover illicit players on the device.
Exein claims its technology is currently being used in 600,000 IoT devices.
Copyright © 2021 FinTech Global
Copyright © 2018 RegTech Analyst
