TXOne Networks, a Taipei, Taiwan- and Irvine, CA-based leader in Cyber-Physical Systems (CPS) security, raised $51m in its Series B extension round of financing.
In addition to TGVest Capital, the lead investor of the B round, Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P. are continuing to invest. New investors include the Taiwania Capital and Applied Ventures ITIC Innovation Fund, L.P. (AVITIC), a joint fund of Applied Ventures, LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).
The company completed its Series A financing in August 2021 and announced Series B financing in August 2022.
Led by Dr. Terence Liu, chief executive officer, TXOne Networks works with both manufacturers and critical infrastructure operators to develop practical approaches to cyber defense of industrial control systems (ICS) and operational technology (OT) environments. With TXOne Networks, companies in diverse OT verticals implement tailored defense, including the adoption of advanced threat detection and response measures, to effectively counter ransomware and other emergent strategic threats and protect assets for their entire lifecycle. TXOne Networks secures the operations of more than 3,600 organizations globally in industries including semiconductors, automotive, pharmaceutical, food and beverage, public transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace.
In April 2024, the company announced its latest innovative CPS protection platform, the SageOne central management console. The new platform delivers management of the CPS attack surface across the OT environment, combines advanced technologies with a user-friendly interface for securing critical infrastructures and enables integrated lifecycle protection.
FinSMEs
07/05/2024