Milan, 11 June 2024 – Nozomi Networks Inc., the worldwide leader in OT and IoT security, and CDP Venture Capital today announces the leading Italian venture capital manager company contributed more than €10 million (equals to $11 million) to Nozomi Networks lasts $100 million series E investment round which included among others investors, Mitsubishi Electric and Schneider Electric.

The CDP Venture Capital contribution was facilitated through CDP’s Large Ventures fund, the instrument created in 2022 to support the global growth of innovative companies that are leaders in their reference market. The investment will allow Nozomi Networks to accelerate its development in the growing and strategically important sector of cybersecurity aimed at industrial operating environments and critical infrastructures.

The use of the funds raised will support research and development, commercial activities and initiatives to defending critical infrastructure worldwide with the aim of protecting the country’s critical infrastructure organizations from increasingly complex and frequent cyberattacks.

Nozomi Networks

Nozomi Networks was established in 2013 in Varese from the idea of ​​Andrea Carcano and Moreno Carullo, both PhDs in Computer Science and today respectively Chief Product Officer and Chief Technology Officer of the company. Today, Nozomi Networks remains at the frontier of innovation, continuously leading the market with advanced proprietary technologies, leveraging Artificial Intelligence and Machine Learning.

Headquartered in San Francisco, USA, with an extensive research and development team that is predominantly Italian, Nozomi Networks has an extensive operational structure with offices in Italy, as well as in Australia, Canada, Germany, Japan, Korea, the Netherlands, Saudi Arabia, Singapore, Switzerland, the United Arab Emirates, the United Kingdom, and the United States. The company supports a large number of clients, including many leading companies in their respective industries, who have chosen its services to secure their OT systems. The company also boasts a research facility (Nozomi Networks Labs) in Mendrisio, Switzerland.

“Nozomi Networks has strong Italian roots, although today it has multiple offices and operates globally to meet the increasingly pressing security needs of companies,” explains Andrea Carcano, Co-founder and CPO of Nozomi Networks. “The partnership with CDP Venture Capital is particularly important for us, because it clearly underlines the interest and support from large institutional investors in a company like ours, which has always been focused on innovation. Through our OT and IoT cybersecurity solutions, we will be able to further contribute to the growth of companies and organizations that play a critical role within our country system."

 

“We are proud to announce the partnership reached with Nozomi Networks, a technological and entrepreneurial success story. This fully represents what we mean when we talk about investing in new businesses,” comments Agostino Scornajenchi, Managing Director and General Manager of CDP Venture Capital, “A story born in Italy from the expertise and vision of two IT experts who have developed a high-tech cybersecurity platform capable of making Nozomi Networks category leader in a highly sophisticated sector with fierce international competition. After years of strong growth in Silicon Valley, Nozomi Networks wanted to focus on Europe to consolidate its technological role. . A goal fully in tune with CDP Venture Capital's commitment to creating an environment conducive to the growth and affirmation of Italian startups, providing resources and expertise to young talent in our Country.”

 

Nozomi Networks offers advanced solutions to protect operational technology (OT) and the Internet of Things (IoT), which includes devices, systems, hardware equipment and software applications that have direct control over the operation of physical devices in industrial systems.  In many cases, these systems are able to adjust motors, valves, actuators, robots, or other automation mechanisms and devices in real time. Given the pervasive presence of these systems in every production area, and their growing convergence with the IT world, the risk of cyber-physical attacks capable of exploiting their vulnerabilities is becoming increasingly higher.

Nozomi Networks addresses this growing need for protection with solutions that uniquely combine network and endpoint visibility, threat detection, and AI-based analytics for rapid and effective incident response to ensure continuity operational and business.

Nozomi Networks customers also benefit from the company's extensive support from the OT and IoT OEM community, with existing partnerships with ABB, Emerson, GE Vernova (formerly GE Power and GE Renewable Energy), Hitachi Energy, Honeywell, Johnson Controls, Mitsubishi Electric, Mitsubishi Heavy Industries, Schneider Electric, Siemens and Yokogawa, enabling the company to provide superior support to customers' heterogeneous operating environments.

CDP Venture Capital joins Mitsubishi Electric and Schneider Electric in this latest round.  They join a distinguished list of Nozomi Networks investors, including prior investors Activate Capital, Energize Capital, Forward Investments, Notable Capital, Honeywell Ventures, In-Q-Tel, Johnson Controls, Keysight Technologies, Lux Capital, Planven Investments SA, Samsung, Porsche Ventures, Telefónica Ventures and Triangle Peak Partners.