Exein, an Internet of Things (IoT) cybersecurity company based in Rome, has raised €70 million in Series C funding.

“This is a major milestone that accelerates our mission to build a digital immune system providing embedded IoT security solutions for connected devices,” said the firm.

The round was led by Balderton and joined by Supernova and Lakestar, with follow-on investments from previous investors 33N, United Ventures and Partech.

Exein CEO Gianni Cuozzo said: “Exein’s extraordinary growth is a testament to the urgent demand to secure devices which are ubiquitous in our everyday lives.

“Embedded security at the device level is fundamental, and we are proud to support manufacturers in providing the highest levels of security, offering them confidence in knowing they are compliant with the latest security legislation.

“I’m extremely proud to be fortifying the foundations of European tech innovation, and to have the trust of our partners and investors as we expand globally and continue our mission of building the digital immune system for the connected world.”

Elena Moneta, Principal at Balderton, said: “We’re living in an era where everything — from rail networks to industrial machinery — is connected, and therefore exposed.

“Exein tackles this threat where it begins: on the device itself, embedding real-time security on the edge — continuously monitoring, learning, and responding. There is no better team to take on this challenge.”