**JPMorgan-Backed Exein Raises €100 Million to Halt Car Hackers**
Italian startup Exein SpA has raised a significant €100 million ($118 million) in fresh funding, marking a major milestone in its mission to protect connected devices from cyber threats. The company's innovative software is designed to sit within a device's computer chip and provide real-time protection against hackers, who increasingly target vulnerable products such as cars, home routers, and baby monitors.
Exein's latest round of funding was led by venture capital firm Blue Cloud Ventures, with participation from investors HV Capital, Intrepid, Geodesic, and JPMorgan Chase & Co. Founded in 2018, Exein has made rapid progress in deploying its embedded security technology across a range of products. The company targets manufacturers of devices that are often described as part of the "internet of things," including domestic appliances, cars, hospital equipment, and industrial control systems.
These latter critical systems are becoming increasingly popular targets for cyberattacks, which can have devastating consequences for businesses and individuals alike. Exein's software is designed to work alongside a device's existing code, providing real-time protection and forensic information if a device is hacked. Unlike other tools that only provide static analysis of a device's code before it's shipped out, Exein offers live information to help prevent future incidents and track down malicious actors.
Exein's founder and CEO, Gianni Cuozzo, highlighted the company's success in providing forensic data to investigators after a major bank hack in 2024. The investigation involved a connected vending machine that used a network controller manufactured by an Exein client. Cuozzo declined to name the bank but emphasized the importance of embedded security in preventing such attacks.
Cuozzo also credited cybersecurity regulation, such as the European Union's Cyber Resilience Act, for driving demand for Exein's technology. The act stipulates minimum security requirements for digital products and services, which will come into full effect in December 2027. "In Europe without embedded security, you cannot access the market," Cuozzo said.
The €100 million funding round is expected to accelerate Exein's growth plans, including pursuing mergers and acquisitions to build out its offerings. The company has already seen significant expansion with its previous €70 million Series C funding in July, which drove growth in North America and Asia. With its technology deployed in around 1.5 billion devices, Exein is poised to play a leading role in protecting the global connected ecosystem from cyber threats.
Exein's success is a testament to the growing importance of cybersecurity in the digital age. As more devices become connected to the internet, the risks associated with hacking and cyberattacks continue to rise. Exein's innovative technology provides a crucial layer of protection for manufacturers and users alike, helping to prevent costly attacks and mitigate their impact.