Momenta Partners is pleased to announce our investment in Xage, the first and only blockchain-protected security platform for the Industrial Internet of Things. Xage secures and simplifies device management at the Industrial Edge, enabling machine-to-machine and human-machine authentication, secure data sharing, device lifecycle management, and autonomous operation.
In investing in Xage, Momenta Partners is proud to join a stellar investment syndicate including March Capital (lead investor), GE Ventures, Nexstar and Impact Ventures.
Founded in 2016, Xage has developed a blockchain-protected security platform for the IIoT. Its first release was a foundational security fabric, distributing identity and authentication for industrial operations to the edge of the network. The company recently released a systemic, tamper-proofing technology, using digital fingerprinting, to extend the scope of its solution across industrial controllers and devices. With the increasing frequency and consequence of cyberattacks on mission critical systems, the impetus to protect industrial organizations and national infrastructure is greater than ever.