Jafco leads $13m Series A for Taiwan cybersecurity player

A group called Jade Stone Jinghua also invested, according to a statement. It brings total funding to $23.7 million since the company's inception in 2018.

TXOne is a joint venture between Tokyo and NASDAQ-listed cybersecurity company Trend Micro and Taiwan's Moxa, a specialist in edge connectivity, industrial computing, and network infrastructure. It focuses on security for industrial internet-of-things environments such as smart manufacturing and smart energy.

The company claims to be on track to achieve more than 100% year-on-year growth for three consecutive years. It will use the fresh capital to expand into new regions, develop technology, and strengthen its after-sales service.

"Deploying security measures in operational technology [OT] such as in industrial control systems is becoming increasingly important and urgent," said Yoshiyuki Shibusawa, president and CEO of Jafco Asia.

"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."

TXOne said COVID-19 has accelerated industrial digitization and blurred the lines between IT and OT, thereby creating more vulnerabilities to hacker attacks on automation systems in areas such as manufacturing.

The major challenge in implementing cybersecurity protections against this threat is that any interference with OT asset can lead to important productivity losses. TXOne aims to solve for this by adapting its services to the unique needs of a given environment and considering the stage of digitization of the operation.

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• Topics
• Greater China
• Support services
• Technology
• Industrials
• Taiwan (China)
• JAFCO
• manufacturing
• Cybersecurity