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TXOne Networks Scores $70M Collection B Funding

By Ryan Naraine on August 18, 2022

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TXOne Networks, a three way partnership between cybersecurity agency Development Micro and industrial networking options supplier Moxa, has banked $70 million in new enterprise capital funding.

The corporate, which maintains twin headquarters in Texas and Taiwan, stated the Collection B spherical was led by TGVest Capital and brings the whole raised to $94 million.

TXOne Networks was created in 2018 by Development Micro and Moxa to construct and promote know-how for securing industrial web of issues (IIoT) environments.

The corporate presents safety gateways, endpoint brokers and community segmentation options designed to assist organizations safe, management and monitor tools and operational know-how (OT).

The brand new financing supplies extra runway for TXOne Networks to pursue enterprise within the good manufacturing, good metropolis, good power and different IIoT environments.  

The corporate stated the funding will likely be used to broaden its international presence and beef up know-how to defend business verticals worldwide in opposition to complicated cybersecurity threats to industrial management programs (ICS).

TXOne Networks chief government Terence Liu stated the unusually giant Collection B funding helps to validate the accessible marketplace for the corporate’s merchandise.  Liu stated the corporate will deal with increasing international market share, recruit engineering expertise, and beef up the corporate’s OT zero trust-based cybersecurity platform.

Associated: TXOne Unveils New OT Community Safety Equipment for SMB Producers

Associated: TXOne Networks Unveils First Industrial Cybersecurity Product

Associated: Development Micro, Moxa Type New IIoT Safety Firm

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