TXOne Networks, a startup specializing in securing ICS and OT environments, has secured significant funding of $51 million in early-stage funding.
The funding comes from new investors based in Taiwan and is in addition to the $70 million Series B round originally announced in August 2022, according to Security Week.
The Taipei-based company was founded in 2018 as a partnership between Trend Micro and Moxa and has evolved significantly since its founding. Even though the joint venture status with Trend Micro and MOXA ended two years ago, both companies remain invested in TXOne.
To date, TXOne has raised a total of $145 million in funding with contributions from prominent investors including TGVest Capital, Pegatron Group, CDIB Capital Group, and CDIB-Innolux II LP. In particular, the latest funding round sees the entry of new investors, including: Taiwania Capital and Applied Ventures ITIC Innovation Fund, LP (AVITIC) is a joint venture between Applied Ventures, LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).
Specializing in security gateways, endpoint agents, and network segmentation solutions, TXOne enables organizations to secure, monitor, and manage their equipment and operational technology. Its innovative technology is applied in a variety of industries around the world, including semiconductors, automotive, pharmaceuticals, food and beverages, public transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace. We serve more than 3,600 organizations in areas such as:
“This additional investment highlights the growing importance of cybersecurity in industrial settings and reaffirms our commitment to providing robust solutions to our clients,” said William Chang, CEO of TXOne Networks. He expressed enthusiasm about the trajectory.
The new capital injection will enable TXOne Networks to further strengthen its technology offering, expand its market reach and strengthen its position as a leader in industrial cybersecurity solutions.
Get all the latest FinTech news here
Copyright © 2024 Fintech Global
Investor
The following investors are tagged in this article:
