EXEIN collects €2m to support IOT cybersecurity

EXEIN, a cybersecurity solution for IoT devices, has collected €2m in its Series A round of funding.

The capital was supplied by United Ventures and will be used to further the company’s research and development of the technology. This growth will include the rewriting mathematical theories.

Founded in 2018, the company is a spin-off from Italian cybersecurity solution Aspisec and is hoping to improve protection from security threats posed to smart-devices. The company offers software and middleware solutions which can be integrated with a client’s hardware to help protect from within.

EXEIN completes continuous firmware checking, and dynamic threat detection to ensure constant protection. Its service is able to understand malicious behaviour and automatically act upon this data.

Parallel learning technology helps the platform lower learning to an boost its analytics capabilities, while the AI helps to lower time to action.

While the solution was primarily designed to help enterprises protect themselves from cyber attacks and hijacks it also offers other tools. Other services include bandwidth usage metrics, energy consumption metrics, fault prevention algorithms integration, hardware distribution metrics into networks, net discovery protocol usage and warranty process handling.

EXEIN founder and CEO Gianni Cuozzo said, “The IOT market is set to reach $267 Billion by 2020. The SCADA market is similarly reach $32.7 Billion by the same date and with 90% of firmware unsecured, there is a clear and vital need for a unique solution like EXEIN which is not only a retrofitting application but already compatible with most firmware such as baremetal firmware, real-time based firmware and linux based firmware.”

There has been a lot of action in the cybersecurity space over the past week. Cybersecurity giant Symantec has been behind a lot of this action, having acquired Appthority and Javelin Networks. The company was also approached by private equity firm Thoma Bravo in regards to a potential buyout offer.

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