Italy’s Exein reaches unicorn status with $270m fundraising round

Italian cybersecurity start-up Exein has achieved unicorn status after securing a $270m funding round, propelling the company to a $1.7bn valuation. Founded in Rome in 2018 and headquartered in Italy, Exein specializes in protecting smart, connected devices from hackers through AI-powered innovations. The company's technology secures hardware at the processor level and is currently embedded in 2bn chips worldwide. Exein's clientele includes major tech firms such as Nvidia, AWS, and Mediatek.

The $270m round was spearheaded by Headline, with contributions from Sofina, Goldman Sachs, and other investors. Exein's CEO, Gianni Cuozzo, emphasized the necessity of the investment to enable the organization to compete globally in the realm of cybersecurity and computing professionals. Looking ahead, Exein plans to launch its own foundational model for AI security in 2027.

Cuozzo stated, "We are moving from having security software to having a secure model that is running constantly on the device and will automatically react to attacks."

Cuozzo also highlighted the current vulnerability of hackers, asserting that Exein's strategy involves employing embedded AI technology to counteract threats and deliver "machine-based protection in a world of machine-based attacks." With the increasing prevalence of digital connectivity and advanced technology, the risk of cybersecurity breaches is escalating.

Recently, it was revealed that 12 Irish account holders were among the 680 global consumers of Revolut who had their sensitive data compromised. Additionally, OpenAI's Sam Altman announced that the company will not be going public in 2023, citing the need for additional safety measures, alignment, and collaboration among the industry, governments, and regulators.