Exein Secures
€100 Million to Scale
Embedded Security
PORTFOLIO NEWS Exein, a European provider of embedded cybersecurity, has raised an additional €100 million in fresh capital, bringing its total funding raised in 2025 to €170 million. The round is led by Blue Cloud Ventures, with participation from HV Capital, Intrepid Growth Partners, Geodesic, and J.P. Morgan.
Exein addresses one of the most critical challenges facing the connected industry today: cybersecurity directly at the device level—where software interfaces with the physical world. Exein’s cybersecurity platform already protects more than 1.5 billion connected devices worldwide. In the coming months, the number of devices running Exein software is expected to exceed two billion.
For us, Exein is a prime example of how to identify hardware-adjacent deep tech early—through technical differentiation, clear risk delineation, and a credible path toward industrial integration. We backed Exein at an early stage, when technical risks were still very real. Then as now, we are convinced that deeply integrated, device-level security will become a foundational layer of the connected world. The fact that Exein is now deployed on billions of devices across security-critical industries demonstrates that European deep-tech startups can scale world-class technology globally.
Dirk Seewald, Managing Partner, eCAPITAL
Why this investment represents a deep-tech case
eCAPITAL invests early in companies whose competitive advantage is rooted in technology and real-world deployment capability. From an investor perspective, the following factors were decisive in Exein’s case:
Problem relevance: The exponentially growing number of connected devices continuously expands the attack surface, creating a clear need for scalable security solutions.
Security “at source”: Protection embedded directly within the device, rather than relying solely on perimeter-based approaches.
Firmware and runtime proximity: AI-driven runtime security anchored at the firmware level—an integration and validation challenge that cannot simply be rolled out retroactively.
Industrial relevance and scalability: Deployment in security-critical industries, alongside growth and partnerships with device manufacturers and chipset providers, as indicators of strong industrial traction.
Founder excellence: Deep technical expertise combined with a clear understanding of market and customer requirements.
Interview opportunity
Dirk Seewald is available to German media outlets for background discussions, including perspectives on how to identify relevant deep-tech opportunities at an early stage and which challenges are particularly decisive in the field of cybersecurity.
About eCAPITAL
Founded in 1999, eCAPITAL is an entrepreneur-led venture capital investor focusing on early- and growth-stage deep-tech companies with a positive impact on society. eCAPITAL is based in Germany and invests with its own funds with a total volume of over € 400 million in the areas of Sustainability, Enterprise Software, Cybersecurity, IoT and New Materials. In addition to financial resources, eCAPITAL offers its portfolio companies strategic support and access to an international network of entrepreneurs, scientists, investors and founders and was lead investor in various deep-tech companies such as sonnen, Novaled or Jedox, which were sold very successfully to international corporates or investors. For more information, visit ecapital.vc
Media contact eCAPITAL
Bettina Schäfer, b.schaefer@ecapital.vc