TXOne Networks, a leading Cyber-Physical System (CPS) security company, announced a significant achievement – the collection of $51 million in Series “B” extension funding round. In addition to TGVest Capital, the lead investor in this round, Pegatron Group, CDIB Capital Group and CDIB-Innolux II LP continue to invest. New investors are Taiwania Capital and Applied Ventures ITIC Innovation Fund, LP (AVITIC), a joint fund of Applied Ventures , LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).
TXOne Networks completed a Series “A” financing in August 2021 and announced a Series “B” financing in August 2022.
TXOne Networks partners with both leading manufacturers and critical infrastructure operators to develop intuitive approaches to cyber defense operations in industrial control system (ICS) and operational technology (OT) environments. With TXOne Networks, enterprises across OT verticals deploy customized defense measures, including advanced threat detection and response measures, to effectively counter ransomware and other emerging strategic threats and protect assets for their entire life cycle. TXOne Networks protects the operations of more than 3,600 companies worldwide across multiple industries – semiconductors, automotive, pharmaceuticals, food and beverage, transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace.
“We were impressed that TXOne Networks’ innovative ‘OT Zero Trust’ approach goes beyond the limitations of traditional cyber defense to protect operations and revenues as well as its continued commitment to optimize management, reduce security overhead, and solve problems faster,” says DC Cheng, Chairman of the Board of Directors of TGVest Capital. “This makes TXOne Networks a unique player in the global cybersecurity industry and we are pleased to partner with them to continue its growth.”
Adds Dr. Terence Liu, CEO of TXOne Networks: “The successful raising of $51 million in this extension round marks a major achievement for TXOne Networks and highlights the confidence our investors have in its vision and potential”.
In April 2024, TXOne Networks announced the launch of its latest, innovative CPS protection platform, the SageOne centralized management console , which enables you to manage CPS attack surfaces across your entire OT environment, combining advanced technologies with an intuitive interface to protect critical infrastructure and enables integrated lifecycle protection.
SOURCE: BusinessWire