ICS Cybersecurity Leader TXOne Networks Raises $70 Million in Series B Funding
Summary
IRVING, Texas & TAIPEI, Taiwan--(BUSINESS WIRE)--TXOne Networks, a global leader in industrial Internet of Things (IIoT) security, announced that it has entered into definitive agreements in connection with its Series B financing with total investment proceeds of $70 million. TXOne, as an early mover and with the unique technology and solutions it has developed, is undoubtedly well positioned to capitalize such growing demand and to protect companies from potential cybersecurity impacts. Through the growth investment that we lead, we are proud to be partnering with the TXOne team to achieve the mission.According to MarketsandMarkets latest report, the market for ICS cybersecurity will grow to $32.4 billion by 2027. ICS vulnerabilities are being targeted in greater numbers, disrupting production, damaging assets worldwide and, in some cases, threatening lives and national security.As the global pioneer of an OT zero trust approach to preserving critical assets integrity and productivity in operational technology (OT) environments, TXOne Networks provides the most advanced solutions to address enterprises needs to prepare for, avert and respond to ever-changing cybersecurity threats and keep operations running. The company serves a wide range of customers, such as large enterprises and international conglomerates, as well as the upstream, midstream and downstream supply chains in various sectors, including semiconductor, medical and pharmaceutical, automobile, aerospace, smart manufacturing, food processing, public transportation and critical electric infrastructure.
Funding
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