Italian cybersecurity startup Exein has secured an additional €100 million in funding, raising its total capital for 2025 to €170 million. This latest round was led by Blue Cloud Ventures, with contributions from HV Capital, Intrepid Growth Partners, Geodesic Capital, and J.P. Morgan. The funding will be used to fuel Exein's global expansion, advance its AI-driven security platform, and pursue an ambitious M&A strategy in 2026.
Exein, founded in 2018 by Gianni Cuozzo, specializes in embedded cybersecurity solutions that operate directly within devices, rather than relying on external monitoring. This approach is designed to combat sophisticated cyberattacks, particularly those leveraging artificial intelligence, which can exploit vulnerabilities between hardware and software. The company announced plans to unveil its next-generation AI-powered runtime security technology at RSAC 2026 in San Francisco.
The company has experienced rapid growth, with revenues increasing fivefold year-on-year. Its technology is currently embedded in over 1.5 billion devices across critical sectors like energy, healthcare, defense, automotive, aerospace, and industrial automation, with projections to reach 2 billion devices by Q1 2026. This significant market penetration and recent funding round value Exein at nearly €700 million, double its valuation from just four months prior. The debt portion of the funding, provided by J.P. Morgan, is specifically earmarked for acquisitions.
Exein's CEO, Gianni Cuozzo, emphasized the critical need for embedded security as AI accelerates both offensive and defensive cybersecurity capabilities. He highlighted that AI agents are already capable of executing fully autonomous attacks directly against devices, necessitating a new security model built into the devices themselves. Rami Rahal of Blue Cloud Ventures echoed this sentiment, stating that connected devices represent the largest and least protected attack surface, and Exein's solution is essential as cyberattacks increasingly impact the physical world.
Exein plans to use the new capital to expand its presence, particularly in the US and Asia-Pacific markets, and to undertake multiple acquisitions in both Europe and the US in 2026. The company's technology helps manufacturers comply with global cybersecurity regulations such as RED 3.3, the upcoming EU Cyber Resilience Act, and the US Cyber Trust Mark, positioning it as a leading provider of embedded runtime security in the rapidly growing connected device market.
