TXOne Networks, a leader in Cyber-Physical Systems (CPS) security, announced a significant achievement of securing $51 million in its Series B extension round of funding. Along with TGVest Capital (the lead investor of the B round), Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P. are continuing to invest. The 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 works with 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. And with TXOne Networks, companies in diverse OT verticals implement tailored defense, including the adoption of advanced threat detection and response measures, to counter ransomware and other emergent strategic threats and protect assets for their entire lifecycle. Plus, TXOne Networks secures the operations of over 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.
In April 2024, TXOne Networks also 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.
KEY QUOTES:
“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. 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.”
- DC Cheng, Chairman with TGVest Capital
“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.”
- Terence Liu, TXOne Networks chief executive officer
