€7m · Other round · Cybersecurity · Netherlands
Indurex, a Dutch company building cybersecurity software for industrial and other cyber-physical systems, has raised €7m in funding in a round led by Contrarian Ventures, with Axeleo Capital and Curiosity participating. According to the company announcement, the capital will support R&D and commercial expansion across Europe and the Middle East, before planned expansion into the US and Asia-Pacific.
The product joins engineering context to cyber signals
Indurex sells SafeGuard AI to operators in oil and gas, energy, utilities, manufacturing and data centres. The platform ingests information from distributed control systems, safety instrumented systems, historians, alarm-management systems and IT security tools. It then uses AI agents to surface anomalies and engineering deviations, linking a cyber alert to the physical process and safety conditions around it. That is a different operating layer from a tool that only inventories connected assets or watches network traffic.
The commercial proposition is to help engineering, safety and security teams work from the same evidence. An alert becomes more useful when an operator can see whether it coincides with an altered protection setting, an abnormal process signal or a safety-system deviation. Indurex says the same joined data can support incident response and automate reporting against cybersecurity and functional-safety frameworks. For customers, the value therefore depends less on producing another stream of alerts and more on shortening the path from detection to an operational decision.
The round funds a test of repeatable industrial deployment
Tech.eu reports that Indurex already works with mid-sized energy and manufacturing companies and large multinational enterprises, while utilities and data-centre operators are also target customers. Those references are company-reported and unnamed, so the next proof point is not simply whether the platform can ingest many data sources. It is whether Indurex can make integrations repeatable across plants whose control systems, engineering conventions and safety processes differ.
That execution challenge also shapes the expansion plan. Industrial customers buy cautiously because cybersecurity tooling can affect systems where downtime or a mistaken intervention has physical consequences. Building commercial capacity in Europe and the Middle East alongside further product development gives Indurex room to turn early deployments into a more standard implementation model. Contrarian Ventures' investment thesis, quoted in EU-Startups, is that founder Jalal Bouhdada's prior industrial-security experience helps the company understand both network evidence and the underlying physical process. The round now has to convert that domain knowledge into deployments that customers can buy, integrate and operate repeatedly.
Sources checked:
Indurex company announcement · Tech.eu report · EU-Startups report · Tech.eu Funding Explorer
