TXOne Networks raises $70 mn led by TGVest Capital

TXOne Networks, a supplier of industrial Internet of Things (IIoT) security solutions, has raised $70 million in its Series B VC funding round.
VC funding for tech
The latest funding will be used to expand TXOne Networks’ global presence and defend industry verticals worldwide against complex and volatile cybersecurity threats to industrial control systems (ICS).

The new VC funding round was led by TGVest Capital ($20 million), with participation from KAiA Capital, CDIB Capital Group, CDIB-Innolux, MediaTek, Ta Ya Electric Wire & Cable, Ta Ya Venture Capital, Simplo Technology Group, CHT Security Corporation and Ash Tower, as well as Steven Pan, Silks Hotel Group Chair, and Chun-I Wu, TAYIH Group Chair.

TXOne Networks completed its Series A financing in August 2021, and lead investors in that round — JAFCO Asia and Jade Stone Jinghua Partnership Fund — increased their investment in Series B.