TXOne Networks, a joint venture between cybersecurity company Trend Micro and industrial networking solutions provider Moxa, has raised USD 70 million in venture capital.
The business, which has dual headquarters in Texas and Taiwan, announced that TGVest Capital led the Series B investment, bringing the total amount invested to USD 94 million. Trend Micro and Moxa founded TXOne Networks in 2018 to develop and commercialize solutions for protecting industrial internet of things (IIoT) environments.
The company provides security gateways, endpoint agents, and network segmentation solutions to assist businesses in securing, controlling, and monitoring their operational and IT infrastructure (OT). The new funding offers TXOne Networks with greater runway to pursue opportunities in smart manufacturing, smart city, smart energy, and other IIoT contexts.