Round led by Contrarian Ventures, with participation from Axeleo Capital and Curiosity, will fund commercial expansion across Europe and the Middle East as cyber threats increasingly target the Cyber-Physical systems (CPS) that keep industrial operations and safety-critical systems running.
AMSTERDAM, Oct. 22, 2026 /PRNewswire/ — Indurex, a company pioneering artificial intelligence (AI) for Cyber-Physical Systems (CPS) security, today announced it has raised €7 million to protect the safety and engineering layer of critical infrastructure, smart manufacturing and connected industrial operations.
The round follows Indurex’s recognition by Gartner as a Cool Vendor earlier this year — external validation of an approach the company calls Engineering Intelligence, built to treat safety, cybersecurity and operations as interdependent disciplines that must work in concert to achieve resilience.
Indurex works with critical infrastructure operators across oil and gas, energy, utilities, manufacturing, and data centres — sectors facing mounting challenges from IT-OT convergence, cyber sabotage and cascading system failures, alongside increasing legislation and compliance requirements. The funding will be used for R&D, and to build out Indurex’s commercial capabilities, with Europe and the Middle East as priority markets ahead of expansion into the United States (US) and Asia-Pacific (APAC).
Engineering Intelligence: The Missing Layer
Traditional OT security tools were built to provide visibility into network-connected assets and activity. But industrial risk has never lived on the network alone: operators need to know not only what is connected, but whether engineering configurations, protection settings and safety functions remain aligned with their intended state — a layer that conventional tooling has under-addressed for years.
Indurex closes this gap with an AI-native, interoperable platform that unifies engineering context and cybersecurity intelligence — an approach the company defines as Engineering Intelligence. Indurex SafeGuard AI™ ingests data from sources including distributed control systems (DCS), safety instrumented systems (SIS), historians, alarm management systems and IT security tools, offering extensive integration capabilities and using AI agents to surface the anomalies and engineering deviations that require human attention and decision-making.
“With Indurex, cybersecurity and process safety are no longer managed in silos. The platform correlates OT, safety, and engineering signals into one coherent view, allowing us to understand what really matters operationally,” said Head of OT Operations, Global Manufacturing Organisation. “This has significantly improved our ability to move from detection to action, reducing noise and strengthening both safety integrity and cyber resilience.”
By securely correlating diverse operational and security telemetry, the platform transforms complex industrial data into context-aware, AI-driven insights with recommended actions. This creates value across three dimensions:
- Operational Excellence & Safety Integrity: fewer trips and faster cause analysis through unified situational awareness and continuous assurance for process integrity.
- Cyber Resilience: contextualised detection and response across digital and physical domains, aligned with operational and safety impact.
- Cost & Compliance: automated reporting and defensible evidence of risk, control maturity and safety integrity against relevant cybersecurity and functional safety standards such as IEC 62443, IEC 61511/61508, NIS2, NIST CSF and NERC CIP.
“Cyber defenses in these critical sectors have focused solely on the network. We focus on the core industrial data itself: the engineering, process and safety signals that determine whether a plant is operating within safe limits. Cybersecurity and operational excellence have too often been managed as separate disciplines — Engineering Intelligence is the missing layer, and this funding allows us to bring that capability to more operators across critical infrastructure,” said Jalal Bouhdada, Founder & CEO of Indurex.
Rooted in Operational Reality
Indurex’s early customers are critical infrastructure operators ranging from mid-sized energy and manufacturing companies to large multinational enterprises, with utilities and data centre operators also among its target markets.
“Electrification is putting more critical infrastructure online, and attacks on it are rising, with the damage felt in the physical world: cold homes, dark hospitals, water that stops flowing. Detection alone is no longer enough. Operators need to understand what an alert means for the physical process behind it. Having built and sold a company in this space, Jalal knows what operators across oil and gas, power and manufacturing need, which makes Indurex one of very few companies that understands both the network packet and the physical process,” said Rokas Peciulaitis, Founder & Managing Partner at Contrarian Ventures.
A Threat That Has Moved Into the Physical World
More than one in five industrial organisations (22%) experienced an industrial control systems (ICS) or operational technology (OT) cyber incident in the past year, with 40% of those incidents disrupting operations and nearly 20% taking more than a month to remediate, according to the SANS Institute’s State of ICS/OT Security 2025 survey. A separate SANS survey found that 58% of respondents named IT compromises spreading into OT networks as the leading initial attack vector for ICS/OT incidents. As IT and OT environments become increasingly interconnected, AI is also giving attackers new capabilities to accelerate and scale their operations, helping them discover, adapt and operationalise cyber capabilities faster than before.
Indurex is built for this new era, treating safety, cybersecurity and operations as interdependent disciplines that must work in concert to achieve resilience.
About Contrarian Ventures
Founded in 2017, Contrarian Ventures is a European early-stage venture capital firm investing in founders at pre-seed and seed, aiming to be their first cheque in. Based across London, Paris and Vilnius, the firm has backed over 90 relentless entrepreneurs who are building world-class, category-defining technologies that energy and industry depend on. Contrarian Ventures has built one of the largest European platforms to help founders win, from Energy Tech Summit to The Climate Brick and Growth Meets Capital.
About Curiosity
Founded in 2021 by experienced investors and former operators Herman Kienhuis and Maurice Beckand Verwée, Curiosity is a Dutch venture capital firm operating out of Amsterdam. The firm focuses on pre-seed and seed investments in European AI-centric software companies. Across Fund I and Fund II, Curiosity has invested in 24 portfolio companies, such as Altura, Dawnguard, Dema, Dreamdata, Moonlit, Neople, Onesurance, Orq.ai, QA.tech and Strise, with combined assets under management of €50 million.
For more information, see www.curiosityvc.com or email hello@curiosityvc.com.
About Axeleo Capital
Axeleo Capital is a European tech investment firm specializing in Software and Greentech, backing companies from Seed to Series B.
With €300 million in assets under management and a team of 18 professionals, Axeleo Capital has made over 70 investments across Europe and the US and recorded more than 20 exits. As a committed institutional investor, the firm provides its portfolio companies with hands-on operational support across go-to-market, leadership, and product management, drawing on a network of 150+ entrepreneurs and strategic partners. Axeleo Capital integrates ESG into its approach, encouraging its portfolio companies to build with resilience and responsibility.
Portfolio highlights include Alsid (acquired by Tenable), 365Talents (acquired by Docebo), Trustpair (acquired by Basware), Joko, Triver, Kestra, Linkup, Bioweg and Symbiotic Security.
About Indurex
Indurex is an AI-native, engineering-first company focused on keeping complex cyber-physical systems resilient, safe and secure. Headquartered in the Netherlands, Indurex partners with oil and gas, energy, manufacturing, utilities and data centre operators to safeguard the systems that power and connect our world.
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