TXOne Networks, an Irving, TX and Taipei, Taiwan-based industrial Internet of Things (IIoT) security solutions provider, raised $70M in Series B funding.
The round was led by TGVest Capital with participation from KAiA Capital, CDIB Capital Group, CDIB-Innolux L.P., MediaTek, Ta Ya Electric Wire & Cable, Ta Ya Venture Capital, Simplo Technology Group, CHT Security Corporation and Ash Tower Limited, Steven Pan, Silks Hotel Group Chair, and Chun-I Wu.
The company intends to use the funds to to expand its presence and defend industry verticals worldwide against complex and volatile cybersecurity threats to industrial control systems (ICS).
Led by Dr. Terence Liu, chief executive officer, TXOne Networks offers cybersecurity solutions that ensure the reliability and safety of industrial control systems and operational technology environments through the OT zero trust methodology. The company works together with both manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense. TXOne Networks offers both network-based and endpoint-based products to secure the OT network and mission-critical devices in a real-time, defense-in-depth manner.
The company serves a wide range of customers, such as large enterprises and international conglomerates, as well as the upstream, midstream and downstream supply chains in various sectors, including semiconductor, medical and pharmaceutical, automobile, aerospace, smart manufacturing, food processing, public transportation and critical electric infrastructure.
FinSMEs
19/08/2022