Exein

Closing two large funding rounds within a single year (2025) funding rapid R&D and go-to-market expansion is a strong, independently verifiable signal of pace for a deep-tech embedded security company.

Runtime security embedded at the firmware/silicon level with real technical integrations across multiple hardware partners (Arm, NVIDIA, Lattice), though as a still-scaling company its footprint is smaller than established embedded security incumbents.

Roughly EUR170 million raised in 2025 alone at a EUR700 million valuation, with participation from a major bank (J.P. Morgan), is a significant and independently reported momentum signal for an embedded-security specialist.

Moving security enforcement into the firmware/runtime layer inside the device itself, rather than bolting on network-level IoT security, is a genuinely different architectural approach compared with most IoT security vendors operating at the network or gateway level.

The claim of protecting more than a billion devices is a self-reported vendor figure not independently verified; named customers (SECO, Lattice Semiconductor, IWave) and hardware-vendor partnerships are independently corroborated, but no third-party security evaluation of the runtime product itself was found.

Firmware-level IoT and connected-device security is an increasingly important attack surface as embedded device counts grow, though it remains a more specialized concern than mainstream enterprise security categories.