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Exein becomes Italian unicorn with $270M round; Euclyd raises €200M Series A

TechCrunch reported that Rome-based Exein raised $270 million at a $1.7 billion valuation, becoming Europe’s newest unicorn, while Sifted reported that Dutch AI-infrastructure startup Euclyd raised a €200 million Series A backed by Samsung and the EU Scaleup Fund.

AI News Feed · 2026-09-15 22:00

Exein describes its aim as providing a cybersecurity layer for physical AI, an evolution of its initial focus on IoT. CEO Gianni Cuozzo told TechCrunch that “the concept of Exein is that every device should be able to defend itself, regardless if they are connected to a secure network or not.” The company’s latest product, Photon, is a runtime security solution intended to prevent attacks at the kernel level of a device. Exein says it has worked directly with original equipment manufacturers and silicon vendors since it was founded in 2018.

Exein says it has secured more than 2 billion connected devices in aerospace, industrial automation, automotive manufacturing, energy, healthcare and semiconductors, sectors where cyberattacks can be paralyzing. It expects the rise of physical AI to sustain its growth because that market uses the same supply chain. Cuozzo said the product can cover AI-powered robots, drones, self-driving cars, sensors, smart appliances and other connected devices that run models on the edge.

The funding round was significantly oversubscribed, according to Exein. The company said its valuation has increased thirty-fold since its Series B about two years ago and more than doubled since it secured equity and debt in December 2025. According to Cuozzo, AI has also made attackers more capable, helped by open-source models that can run without guardrails and make it easier and cheaper to target physical devices in new ways. Exein has seen an increase in what Cuozzo calls “machine-speed attacks” and intends to respond with a foundational model for physical AI security. It is training the model on machine data and telemetrics and plans to have it ready in the first quarter of 2027.

Exein will use the new funding for mergers and acquisitions to complete its product portfolio and for hiring to accelerate expansion in the United States and Asia Pacific, which currently drives half of its revenue. Cuozzo said operating across three continents has been the company’s main challenge, but he said the breadth has produced results, with Exein growing 400% year on year. The European Union’s Cyber Resilience Act, whose reporting obligations began last week and which takes full effect in December 2027, requires manufacturers to make sure all digital products are safe from cyber threats.

Sifted reported that Euclyd, a Dutch startup building infrastructure to make AI more efficient, raised the €200 million Series A. Samsung and the EU Scaleup Fund backed the round, and former ASML CEO Peter Wennink is joining Euclyd as chairman of the board, according to Sifted.