TXOne Networks Raises $51M in Series B Extension Round Funding for Growth

Funding round validates TXOne Networks’ capabilities and vision for securing industrial control systems and operational technology spaces. 

TXOne Networks Raises $51M in Series B Extension Round Funding for Growth

Photo courtesy of TXOne Networks

IRVING, Texas, and TAIPEI, Taiwan – Cyber-physical security services provider TXOne Networks today announced the company has secured $51 million in its Series B extension round of financing.

In addition to B round lead investor TGVest Capital, other ongoing investors include Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P. New investors in TXOne Networks in the latest effort 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 completed its Series A financing in August 2021 and announced Series B financing in August 2022. The company works with manufacturers and critical infrastructure operators “to develop practical, operations-friendly approaches to cyber defense of industrial control systems (ICS) and operational technology (OT) environments,” according to the company announcement.

More About TXOne Networks

TXOne’s customers in myriad 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,” the announcement says.

The company 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.

“We are impressed that the ‘OT Zero Trust’ approach that TXOne Networks pioneered goes beyond the limitations of traditional cyber defense to safeguard operations and revenues, as well as its continuous efforts to streamline management, reduce security overhead and more quickly resolve challenges,” says DC Cheng, chairman of TGVest Capital, in the announcement.

“This makes TXOne Networks a unique player in the global cybersecurity landscape, and we are happy to partner with the company for its continuous future growth,” he says.

Dr. Terence Liu, TXOne Networks chief executive officer, calls the $51 million raised in the Series B extension round “a significant achievement for the company and underscores the confidence and trust of our investors in TXOne Networks’ vision and potential.”

In April 2024, TXOne Networks announced its latest innovative 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.”

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