Published by Global Banking & Finance Review®
Posted on July 16, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleExein secures €70M to expand globally, driven by increased European defence spending and a shift from cloud-based systems.
(Reuters) -Italian tech firm Exein said on Wednesday a pick up in European defence spending was supporting its domestic growth, as it closed a funding round aimed at global expansion.
The startup, which provides embedded cybersecurity on small devices including chips, is planning to expand its range of products as countries and businesses move away from cloud-based systems because of data sovereignty concerns and rising costs, its Chief Executive Gianni Cuozzo said.
WHY IT'S IMPORTANT
Italy has been trying for years to foster a tech startup sector.
As European countries increase their defence spending in a push to meet NATO targets and protect themselves against Russian expansionism, demand for domestic cybersecurity and infrastructure protection systems is increasing.
BY THE NUMBERS
Exein said on Wednesday its Series C funding round raised 70 million euros ($81 million) for expansion across the United States, Japan, Taiwan, and South Korea, and to strengthen its European presence.
Its plans include acquisitions in Europe and the U.S. to target new users, followed by another funding round for a "bigger acquisition", and a public listing between 2029 and 2030, Cuozzo said.
The group, whose clients include MediaTek, Daikin, Seco and Kontron, said in April it was valued at around 500 million euros.
It is targeting 20 million euros in revenues this year and aiming for triple-digit revenue growth in each of the next three years, helped by acquisitions, Cuozzo said.
KEY QUOTE
Attackers "are no longer breaching through the front door; the microwave on a military ship, or the smart fish tank in a hospital waiting room - any one of these could be exploited to compromise the entire network," said Elena Moneta, Principal at London-based VC firm Balderton, which led the funding round.
($1 = 0.8604 euros)
(Reporting by Alessandro Parodi. Editing by Mark Potter)
Exein closed a Series C funding round to raise 70 million euros for global expansion and to strengthen its presence in Europe.
Exein was valued at around 500 million euros in April.
Exein is targeting 20 million euros in revenues for this year, with plans for triple-digit growth in the following three years.
Exein's clients include notable companies such as MediaTek, Daikin, Seco, and Kontron.
The increase in European defence spending, particularly in response to NATO targets and threats like Russian expansionism, is driving demand for domestic cybersecurity solutions.
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