TXOne Networks - Experts & Thought Leaders

Mitsubishi Electric Corporation and TXOne Networks Inc. announced that they have signed a long-term cooperation agreement covering technology development and marketing, aiming at expanding the operational-technology (OT) security businesses of both companies. Emergence of IoT and DX OT and industrial control systems in manufacturing sites are often operated in closed environments, with IT and OT systems separated from each other. However, the emergence of the Internet of Things (IoT) and digital transformation (DX) is enabling convergence between these two domains. As a result, cyberattacks targeting manufacturing sites in industries such as semiconductors and automobiles have increased, leading to production disruptions and highlighting the growing need for more robust security measures in factories. Enhance productivity, efficiency, and safety Through their new collaboration, the two companies aim to create innovative new value in OT security Through their new collaboration, the two companies aim to create innovative new value in OT security by combining Mitsubishi Electric's assessment, maintenance, and operation services, as well as control equipment and systems with TXOne's OT security products. The new OT security solutions are expected to improve manufacturing productivity, efficiency, and safety, as well as security levels throughout the supply chains of various industries.  New OT security solutions Mitsubishi Electric offers comprehensive OT security solutions to protect manufacturing sites from cyber-attacks and threats. The company has cultivated extensive experience in IT security technology for the financial industry and other sectors and has developed in-depth knowledge of control equipment and systems, especially for manufacturing, which it provides through a full range of services, from assessment and consulting to countermeasures and operational support. TXOne provides OT security solutions that enable manufacturers to comply with security guidelines, such as the semiconductor sector's SEMI E187 specification. OT-native network segmentation and defence TXOne adapts to the unique characteristics of each OT environment to deliver cybersecurity solutions The company's OT-native network segmentation and defence technologies enable customers to mitigate the impact of cyber-attacks. Based on the principle of 'Zero Trust,' TXOne adapts to the unique characteristics of each OT environment to deliver cybersecurity solutions that support secure production operations. "We look forward to creating new value in OT security by combining OT technology and expertise for manufacturing, infrastructure, and building automation with security technology for information systems," said Kunihiko Kaga, Mitsubishi Electric's Representative Executive Officer and Industry and MobilityBusiness Area Owner. Safe and secure OT environments Kunihiko Kaga adds, "With the continued evolution of DX and the increasing sophistication and complexity of cyber-attacks, OT security measures must extend from the information communication layer to the control communication layer and deeper into the network layer." Kunihiko Kaga continues, "We are confident that our synergy with TXOne's OT network segmentation and defence technologies will enable us to contribute to greater safety and security in OT environments and the world beyond." Comprehensive and holistic security services "As cyber threats continue to evolve, TXOne remains committed to fortifying the industrial landscape with pioneering OT security solutions," said Dr. Terence Liu, CEO of TXOne Networks. Dr. Terence Liu adds, "The collaboration between Mitsubishi Electric and TXOne Networks creates a unique value with our deep-rooted expertise in both IT and OT, forming comprehensive and holistic security services to safeguard manufacturing assets against the ever-evolving cyber risks at once. Our mutual dedication empowers industries to thrive securely in this digital age."

TXOne Networks, a pioneer in industrial Internet of Things (IIoT) security, announces 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). Damaging assets worldwide 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 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. Critical information infrastructure DC Cheng adds, “TXOne, as an early mover and with the unique technology and solutions it has developed, is undoubtedly well positioned to capitalise 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, 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. Downstream supply chains 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 recognised by CRN as a 2022 Emerging Vendor in the Security category TXOne Networks has been recognised by CRN as a 2022 Emerging Vendor in the Security category. The company serves a wide range of customers, such as large enterprises and international conglomerates, as well as the upstream, midstream, and downstream supply chains in various sectors, including semiconductor, medical and pharmaceutical, automobile, aerospace, smart manufacturing, food processing, public transportation, and critical electric infrastructure. The surge in cybersecurity demand contributed to a 107% increase YoY in TXOne Networks’ revenue in the first half of 2022. Enterprises safeguard operations Furthermore, TXOne Networks’ employment in Europe and the United States increased by 67%, and that trend will continue with the overall number of staff in Asia, Europe, and the United States expected to double by the end of this year. “With cyberattacks on the rise, the zero trust era has arrived for OT networks. TXOne Networks’ highly adaptable, OT-native cybersecurity solutions for ICS are proving uniquely up to the task of helping enterprises safeguard operations from known and unknown threats, comply with regulatory requirements and improve core competitiveness,” said Dr. Terence Liu, TXOne Networks Chief Executive Officer. “This unusually large round of Series B funding is proof of the market’s belief in TXOne Networks. Having won the trust of our investors in our innovative technologies and products and strong operations team, we are exceeding expectations. We will continue to expand our global market presence, recruit world-class talent and grow the world's first OT zero trust-based cybersecurity platform.”