# Exein S.p.A Startup profile on Capital Atlas: https://capitalatlas.ai/startups/exein-s-p-a - Industry: IT Security/Cybersecurity - Headquarters: Rome, Italy - Website: www.exein.io - Total disclosed funding: $420M - Latest round: Series C (Sep 15, 2026) - Investors on record: 19 ## About Based in Rome, Italy, Exein S.p.A was founded in 2018 by Gianni Cuozzo and develops embedded and runtime cybersecurity that operates inside connected devices rather than on the network. As of September 2026, the company is led by its CEO, Gianni Cuozzo. On 15 September 2026, Exein secured USD 270 million in new funding at a USD 1.7 billion valuation in a round led by Headline, with participation from Sofina, Goldman Sachs, European Investment Bank Group ETCI, KfW Capital and T.Capital, and involvement from previous investors Balderton, HV, Intrepid Growth Partners, 33N Ventures, Lakestar, Supernova Invest, Blue Cloud Ventures and Geodesic Capital, to accelerate US and APAC expansion and Physical AI security development. Exein provides runtime and embedded cybersecurity for connected and Physical AI systems. Photon, its preemptive runtime security architecture launched in 2026, operates at the kernel level to block malicious code before it executes, covering connected devices, Physical AI, autonomous AI agents and cloud and edge infrastructure. Pulsar is a Linux device-defence tool that monitors and protects devices in real time using eBPF technology. The company also offers an AI compliance capability addressing frameworks including the EU Cyber Resilience Act, and is developing a proprietary foundation model for Physical AI security. Its technology is deployed across more than two billion connected devices for industrial automation, automotive, energy, healthcare, semiconductor, aerospace and robotics customers. Exein generates revenue primarily through a subscription model that provides access to its comprehensive IoT security platform. In 2022, the company reported a revenue of EUR 316,225 with an EBITDA of EUR -1,622,215. Clients engage in transactions that typically involve annual or multi-year contracts for ongoing security services, with options for customized solutions depending on the specific needs of the device manufacturers and OEMs. The structure is predominantly B2B, where enterprises partner with Exein to integrate its security solutions into their products, enhancing value and customer trust. Flagship services, such as Runtime Security and Analyzer, are integral to these agreements, allowing clients to ensure that their devices adhere to stringent security protocols. Revenue from partnerships and licensing agreements further supports Exein’s financial model, solidifying its position in the rapidly evolving cybersecurity landscape. The company plans to use its September 2026 funding to accelerate expansion in the US and APAC, increasing US hiring, customers and partnerships over the next two years and opening a new office in the San Francisco Bay Area. Exein plans further expansion in Japan in Q4 2026 and to open an office in South Korea by 2027. It intends to introduce its agentic security architecture by the end of 2026, with its first foundation models expected in Q1 2027, and will continue to pursue M&A opportunities supported by its upsized revolving credit facility. ## Funding rounds - Series C, Sep 15, 2026, $313M — Goldman Sachs Asset Management, Sofina, Headline, Balderton Capital, HV Capital, European Investment Bank, Lakestar, Blue Cloud Ventures, Geodesic Capital, Supernova Invest, 33N Ventures, T.Capital, Intrepid Growth Partners, KfW Capital - Series C, Jul 15, 2025, $82M — Partech Partners, Balderton Capital, Lakestar, United Ventures, Supernova Invest, 33N Ventures - Series B, Jul 3, 2024, $16M — Partech Partners, eCAPITAL, United Ventures, Future Industry Ventures, 33N Ventures - Series A, Sep 22, 2021, $7M — eCAPITAL, United Ventures, Redstone - Series A, Aug 1, 2018, $1.4M — United Ventures ## Investors - United Ventures (https://capitalatlas.ai/funds/united-ventures) — Series A, Series B, Series C - eCAPITAL (https://capitalatlas.ai/funds/ecapital) — Series A, Series B - Redstone (https://capitalatlas.ai/funds/redstone) — Series A - Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series B, Series C - Future Industry Ventures (https://capitalatlas.ai/funds/future-industry-ventures) — Series B - 33N Ventures (https://capitalatlas.ai/funds/33n-ventures) — Series B, Series C - Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Series C - Lakestar (https://capitalatlas.ai/funds/lakestar) — Series C - Supernova Invest (https://capitalatlas.ai/funds/supernova-invest) — Series C - Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series C - Sofina — Series C - Headline (https://capitalatlas.ai/funds/headline) — Series C - HV Capital (https://capitalatlas.ai/funds/hv-capital) — Series C - European Investment Bank (https://capitalatlas.ai/funds/european-investment-bank) — Series C - Blue Cloud Ventures (https://capitalatlas.ai/funds/blue-cloud-ventures) — Series C - Geodesic Capital (https://capitalatlas.ai/funds/geodesic-capital) — Series C - T.Capital (https://capitalatlas.ai/funds/t-capital-2) — Series C - Intrepid Growth Partners (https://capitalatlas.ai/funds/intrepid-growth-partners) — Series C - KfW Capital (https://capitalatlas.ai/funds/kfw-capital) — Series C