TXOne Networks, a startup specializing in safeguarding ICS and OT environments, has secured a significant boost of $51 million in early-stage financing.
According to Security Week, the funding comes from new investors based in Taiwan and adds to the $70 million Series B round initially announced in August 2022.
This Taipei-based company, established in 2018 as a collaboration between Trend Micro and Moxa, has evolved considerably since its inception. Despite the cessation of its joint venture status with Trend Micro and MOXA two years ago, both companies maintain their investment in TXOne.
To date, TXOne has amassed a total of $145 million in funding, with contributions from notable investors including TGVest Capital, Pegatron Group, CDIB Capital Group, and CDIB-Innolux II L.P. Notably, the latest funding round sees the entry of new investors, including Taiwania Capital and Applied Ventures ITIC Innovation Fund, L.P. (AVITIC), a collaborative effort between Applied Ventures, LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).
Specializing in security gateways, endpoint agents, and network segmentation solutions, TXOne empowers organizations to secure, monitor, and manage their equipment and operational technology. Its innovative technology finds application across a spectrum of industries globally, serving over 3,600 organizations in sectors such as semiconductors, automotive, pharmaceuticals, food and beverage, public transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace.
TXOne Networks CEO, William Chang, expressed enthusiasm about the company’s trajectory, stating, “This additional investment underscores the growing importance of cybersecurity in industrial settings, and reaffirms our commitment to providing robust solutions for our clients.”
The fresh injection of funds will enable TXOne Networks to further enhance its technology offerings, expand its market reach, and reinforce its position as a leader in industrial cybersecurity solutions.
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