Xage (pronounced Zage) is a startup that works to keep critical infrastructures like oil and gas pipelines, water supplies, and power grids running safely. Today the company announced a Series B valued at $ 30 million.
Piva led the round with the participation of Momenta, Valor Equity Partners and OurCrowd as well as existing investors March Capital, City Light Capital, Saints Capital and Saudi Aramco Energy Ventures. The startup said it has raised $ 54 million so far.
Xage uses a number of complex technologies to ensure the security of critical infrastructures. Industrial infrastructure is usually older and reliant on fairly fragile security. Xage was developed as a modern layer on top of what the company calls fabric, said CEO Duncan Greatwood.
“The fabric is a network of software nodes that overlay operations to allow granular control of every digital interaction. It provides zero trust protection that spans operations, IT, and the cloud, and underpins both …