Lakestar and Balderton back IoT cybersecurity startup Exein in €70m raise

Cyberattacks are on the rise and have become front-of-mind for boards, investors, and employees globally. Today, we’re supporting Exein, the world’s leading provider of built-in security for connected devices, in their €70 million Series C funding round led by Balderton Capital and joined by Lakestar, Supernova Invest, and with continued participation from 33N Ventures, United Ventures, and Partech!

Exein is the global leader in embedded runtime security and protects over one billion connected devices today. As the cybersecurity landscape evolves, Exein’s device-level approach is fast becoming the industry standard, embedding AI-enabled, real-time threat detection directly into the hardware that powers critical infrastructure, healthcare, energy, and more.

Our investment in Exein marks Lakestar’s first investment in Italy, a country with a rapidly growing tech ecosystem, and we’re excited to expand our portfolio into this key European market.

Georgia Watson, Partner at Lakestar, said: “Our world is increasingly software-defined, interconnected, and therefore more vulnerable. Exein has recognised that individual devices serve as an easy entry point for cyberattacks, so the brilliant team has built a smart digital 'immune' system to serve as the frontline defensive trench protecting access to sensitive and critical infrastructure. The rise of connected devices and regulatory demands means that Exein’s technology is essential to securing resilience for users globally. We at Lakestar are proud to support Gianni Cuozzo and the team as they scale globally and define the future of embedded cybersecurity.”