TXOne Networks, Leader in Cyber-Physical Systems (CPS) Security, Raises $51 Million in Total in Series B Extension Round Funding
May 08 2024 - 7:38AM
Business Wire
Significant funding round validates TXOne
Networks’ capabilities and vision for securing industrial control
systems (ICS) and operational technology (OT) environments
TXOne Networks, a leader in Cyber-Physical Systems (CPS)
security, today announced a significant achievement of securing $51
million 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).
TXOne Networks completed its Series A financing in August 2021
and announced Series B financing in August 2022.
TXOne Networks works with both leading manufacturers and
critical infrastructure operators to develop practical,
operations-friendly 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.
“We are impressed that the ‘OT Zero Trust’ approach that TXOne
Networks pioneered goes beyond the limitations of traditional cyber
defense to safeguard operations and revenues, as well as its
continuous efforts to streamline management, reduce security
overhead and more quickly resolve challenges,” said DC Cheng,
Chairman with TGVest Capital. “This makes TXOne Networks a unique
player in the global cybersecurity landscape, and we are happy to
partner with the company for its continuous future growth.”
Added Dr. Terence Liu, TXOne Networks chief executive officer:
“The successful procurement of $51 million in this extension round
marks a significant achievement for the company and underscores the
confidence and trust of our investors in TXOne Networks’ vision and
potential.”
In April 2024, TXOne Networks announced its latest innovative
CPS protection platform, the SageOne central management console.
The new TXOne Networks 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.
CRN in April 2024 recognized TXOne Networks among its list of
“The 10 Coolest IoT Security Companies.”
Follow TXOne Networks on Blog, Twitter, and LinkedIn.
About TXOne Networks
TXOne Networks offers cybersecurity solutions that ensure the
reliability and safety of industrial control systems and
operational technology environments. TXOne Networks works together
with both leading 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 using a real-time, defense-in-depth
approach. www.txone.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240508563151/en/
Global Media Contacts Lynette Lee Lynette_lee@txone.com
Vivian Kelly viviankelly@interprosepr.com +1 703 509 5412