ICS Cybersecurity Leader TXOne Networks Raises $70 Million in Series B Funding

TAIPEI, Taiwan (ots) - With global demand soaring for protecting enterprise
operations, TXOne Networks attracts significant Series B funding

TXOne Networks (https://www.txone.com/) , a global leader in industrial Internet
of Things (IIoT) security, announced that it has entered into definitive
agreements in connection with its Series B financing with total investment
proceeds of $70 million. The latest capital injection 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 funding round was led by TGVest Capital ($20 million), with
participation from KAiA Capital, CDIB Capital Group, CDIB-Innolux L.P.,
MediaTek, Ta Ya Electric Wire & Cable, Ta Ya Venture Capital, Simplo Technology
Group, CHT Security Corporation and Ash Tower Limited, 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 Limited Partnership Fund - increased
their investment in Series B.

"Now, and more than ever, manufacturing companies and critical facilities
globally are facing increasing pressure to ensure cybersecurity," said DC Cheng,
TGVest Capital Chair. "TXOne, as an early mover and with the unique technology
and solutions it has developed, is undoubtedly well positioned to capitalize
such growing demand and to protect companies from potential cybersecurity
impacts. We at TGVest share TXOne's vision to be a global leader for Operation
Technology cybersecurity. Through the growth investment that we lead, we are
proud to be partnering with the TXOne team to achieve the mission."

According to MarketsandMarkets' latest report (https://www.marketsandmarkets.com
/Market-Reports/operational-technology-ot-security-market-18524133.html) , the
market for ICS cybersecurity will grow to $32.4 billion by 2027. Not only
high-value manufacturing and semiconductor sectors but also governments and
critical information infrastructure have become the target of hackers. ICS
vulnerabilities are being targeted in greater numbers, disrupting production,
damaging assets worldwide and, in some cases, threatening lives and national
security.

As the global pioneer of an "OT zero trust" approach to preserving critical
assets' integrity and productivity in operational technology (OT) environments,
TXOne Networks provides the most advanced solutions to address enterprises'
needs to prepare for, avert and respond to ever-changing cybersecurity threats
and keep operations running. TXOne Networks has been recognized by CRN as a 2022