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Xage Scores $12M Series A for Blockchain-Based IoT Security

July 23, 2018 / Ken Briodagh

Xage Security closed a $12 million Series A funding round for its blockchain-based security platform for the industrial IoT (IIoT) space. March Capital Partners led the round with participation from GE Ventures, City Light Capital, and NexStar Partners. The startup, which launched in December 2017, said it will use the funding to develop its security fabric for edge IIoT networks and national infrastructure. It also plans to expand its technology to support decentralized energy production, 5G networking, and smart cities.