TXOne Networks, a provider of cyber-physical systems, announced it has secured $51 million in its Series B extension round of financing. In addition to TGVest Capital, the lead investor of the B round, Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P. are continuing to invest. 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, a Taiwanese company with U.S. headquarters in Irving, Texas, completed its Series A financing in August 2021 and announced Series B financing in August 2022.
TXOne Networks works with both 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. With TXOne Networks, companies in diverse OT verticals implement tailored defense, including the adoption of advanced threat detection and response measures, to effectively counter ransomware and other emergent strategic threats and protect assets for their entire lifecycle.
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TXOne Networks says it secures the operations of more than 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.
“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,” stated TXOne Networks CEO Terence Liu.
In April, TXOne Networks announced its latest 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.
