PR91190

TAIPEI Aug. 19, 2021 /PRNewswire=KYODO JBN/

-- Significant financing fosters substantial growth in the highly anticipated

industrial cybersecurity market

TXOne Networks [ https://www.txone-networks.com/en-global ], a global leader in

Industrial IoT (IIoT) security, announced today that it has completed its

"Series A" financing. This round was led by JAFCO Asia Investment, Jade Stone

Jinghua Limited Partnership Fund, and a number of other well-known investors.

TXOne Networks received an investment of $12.9 million this round, and in total

has received $23.7 million in investments since its founding. The funds raised

will be used to refine TXOne's highly adaptable Industrial Control System (ICS)

security products, to expand its business in certain regions, and to strengthen

marketing and after-sales service teams. Long-term, TXOne will continue to

place its focus on simplifying the complex and fast-changing cybersecurity

issues that are troublesome for organizations at various phases of digital

transformation and perfecting the defense solutions necessary for the digital

transformation of the ICS industry.

Photo-https://mma.prnewswire.com/media/1596318/Dr_Terence_Liu_TXOne_Networks.jpg

Photo- https://mma.prnewswire.com/media/1596319/TXOne_Networks.jpg

TXOne Networks, a joint venture of Trend Micro, a global leader in information

security solutions, and Moxa, a global leader in industrial infrastructure, has

rapidly become one of the world's foremost industrial cybersecurity brands in

part thanks to the recognition of recently-won international awards. Dr.

Terence Liu, CEO of TXOne Networks, explains: "TXOne Networks has been

recognized by industrial customers since its founding, and we have experienced

substantial growth since then. I am very pleased that we have completed this

Series A round of investments with a good result and the trust of our

investors. The successful completion of this fundraising is of great

significance to us, and to setting up the next stage of TXOne Networks'

development."

Yoshiyuki Shibusawa, President and Chief Executive Officer of JAFCO Asia, a

Japanese venture capital group, adds: "Deploying security measures in

Operational Technology (OT) such as in industrial control systems is becoming

increasingly important and urgent. Cyber threats to such targets are growing at

alarming rates and pose social risks that can no longer be overlooked. This is

why getting to know TXOne Networks, who are in the midst of this remarkable

problem-solving, has been very exciting for us. With the respectable team led

by Dr. Liu, together we will do our best to tackle this critical theme."

Eva Chen, CEO and co-founder of TXOne Networks' mother company TrendMicro,

concludes: "We live in a connected world; the present danger to cybersecurity

is very clear. Security is Trend Micro's entire focus, and the Industrial

Control System (ICS) is no exception. I am so glad to see our mission of

securing the world can extend through TXOne Networks to inspire innovations

that can keep up with attackers, especially in the face of threats evolving to

target diverse ICS verticals."

Recommendations for the post-pandemic cyber threat landscape

While the global response to the COVID-19 pandemic accelerated the digital

transformation and the push into Industry 4.0, it also brought new challenges

to the manufacturing industry. The boundaries between IT and OT have become

blurred, and the number of available attack surfaces - starting points for

hackers' attacks - has expanded exponentially. Securing Industrial Internet of

Things technology is a major challenge for manufacturing operations due to the

unique needs of the industrial control environment. OT assets are critical to

productivity, and any interference with them represents a serious problem. For

this reason, it is difficult for companies to find cybersecurity solutions that

ensure the safety of equipment while supporting the smooth operation of work

site equipment. Many companies want to know how to think about cybersecurity in

light of the major changes brought about by the pandemic.

According to TXOne Networks CEO Dr. Terence Liu: "The pandemic has forced

everyone to stop and look at the digital transformation from a new perspective,

and it has revealed various management challenges that may expose companies to

cybersecurity risk. I think companies should first face up to the fact that the

industrial network environment has inherent security risks, and proactively

work to understand and examine those risks. Secondly, it's important to study

the vulnerabilities in the system and formulate a protection strategy that

meets the unique requirements of the OT environment: security must not impact

performance or interrupt operations, and must include solutions that work for

any environment. Finally, action must be taken to coordinate cybersecurity

endeavors with the different stages of digital transformation. Only in this way

can risks be minimized, mission-critical equipment be protected, and

operational interruptions and loss of invaluable data be avoided."

Industrial control system security becomes a new frontier

Since the COVID-19 pandemic fast-tracked the digital transformation, industrial

control system security has become a new frontier in the market and has entered

a phase of rapid growth. TXOne Networks is on track to continue its performance

of more than 100% growth for three consecutive years. With this investment of

$12.9 million, the leading global Industrial IoT security brand has set a new

milestone at the completion of its Series A round of fundraising. The company

has gathered momentum from both the cybersecurity and industrial automation

veterans, bringing excellent technology and services to customers all over the

world. TXOne will continue to respond to new threats to the OT environment and

support successful digital transformation by combining accumulated operational

expertise with AI technology to provide solutions customized to industrial

environments and the Industrial Internet of Things.

About TXOne Networks

TXOne Networks, a subsidiary company of Trend Micro, offers cybersecurity

solutions tailored to the protection of industrial control systems, ensuring

reliability and safety from cyberattacks.

https://www.txone-networks.com

Media Contacts:

TXOne Networks, Lynette Lee / 0936-886-218 / lynette_lee@trendmicro.com

GlobalCom Networks, Martin Uffmann / 0049 89 360 363 41 / martin@gcpr.net

SOURCE: TXOne Networks