Exein is an Italian cybersecurity company focused on protecting connected devices at the firmware level. Founded in 2018 by Exein CEO Gianni Cuozzo, the Rome based company builds what it describes as a digital immune system for the internet of things. Instead of relying on perimeter defences or cloud only monitoring, Exein embeds security directly into devices, allowing them to detect and respond to threats in real time.
In December 2025, Exein announced a major new funding round that strengthens its position as one of Europe’s most well funded embedded cybersecurity firms.
Exein funding update: €100m extension round
On 18 December 2025, Exein confirmed it had raised an additional €100 million in funding. The round was led by Blue Cloud Ventures, with participation from HV Capital, Intrepid Growth Partners, Geodesic Capital, and J.P. Morgan.
The financing includes an equity investment alongside a structured facility led by J.P. Morgan. This extension follows Exein’s €70 million Series C round in July 2025, bringing total Exein funding raised in 2025 to €170 million.
The latest raise reflects growing demand for embedded security as cyberattacks increasingly target physical infrastructure such as hospitals, airports, energy networks, and industrial supply chains.
Valuation growth and scale
Exein’s valuation has nearly doubled within six months, driven by rapid commercial expansion and increased regulatory pressure on device manufacturers. As of late 2025, Exein’s technology is deployed on more than 1.5 billion devices worldwide.
The company expects the number of protected devices to exceed two billion by the first quarter of 2026. Growth is being driven by new large scale deployments, expansion across regulated industries, and rising adoption of firmware level security.
What Exein does: embedded runtime security
The company specialises in embedded IoT cybersecurity, integrating protection directly into device firmware. Its platform is designed to work across Linux and RTOS based systems, including devices that operate with limited or no constant internet connectivity.
Unlike traditional endpoint or network security tools, Exein’s technology enables devices to detect, contain, and respond to threats locally, reducing reliance on cloud based analysis.
Core products and technology
Exein Runtime
Exein Runtime is the company’s AI powered runtime threat detection and response platform. It provides extended detection and response for embedded systems, monitoring behaviour at runtime to identify malicious activity.
The platform is powered by Pulsar, an open source agent written in Rust. Pulsar enables high performance security monitoring with a low footprint, making it suitable for resource constrained devices.
Exein Analyzer
Exein Analyzer is used during the development phase to scan firmware images for vulnerabilities. It helps manufacturers identify security weaknesses before devices are deployed and supports compliance with regulatory standards.
Regulatory compliance
Exein’s platform is designed to help manufacturers meet emerging global security requirements, including the EU Cyber Resilience Act, RED 3.3, and the US Cyber Trust Mark. This has become a key driver of adoption as regulations increasingly mandate security by design.
Industries and use cases
Exein’s embedded cybersecurity technology is used across a wide range of sectors where device level protection is critical. These include energy, healthcare, defence, automotive, aerospace, industrial automation, semiconductors, and robotics.
As cyber threats increasingly move from IT systems into operational technology, manufacturers are prioritising security that can operate directly on devices without relying solely on external controls.
Strategic partnerships
Exein works closely with major hardware, cloud, and infrastructure providers to ensure compatibility across diverse device environments.
Hardware partners include ARM, NVIDIA, MediaTek, Lattice Semiconductor, and Supermicro. Cloud and infrastructure partners include AWS, SECO, and Kontron. These partnerships allow Exein to embed security deeply into device ecosystems from design through deployment.
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Leadership and vision
Exein was founded by Gianni Cuozzo, who continues to serve as CEO. Under his leadership, the company has positioned itself around the concept of a digital immune system for connected devices.
Commenting on the company’s roadmap, Cuozzo has said Exein will unveil the first wave of its next generation runtime security technology at RSAC in early 2026. This includes protections designed for on device AI and large language models running at the edge.
Roadmap and expansion plans
Exein plans to use the latest funding to accelerate product development, including AI enabled protections for embedded AI workloads. An initial release is expected to be presented at RSAC 2026.
The company is also preparing a multi transaction M&A programme in 2026 across Europe and the United States. In parallel, it is accelerating international expansion, with a strong focus on the US and APAC markets.
Why Exein matters now
As regulations tighten and connected devices become core to critical infrastructure, embedded security is shifting from a nice to have to a requirement. Exein’s approach of building security directly into firmware positions the company at the centre of this shift.
With €170 million raised in 2025, rapid valuation growth, and a footprint spanning billions of devices, Exein has emerged as a key player in the future of embedded IoT cybersecurity.
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