Amsterdam-based industrial cybersecurity startup Indurex has successfully closed a €7 million (approximately $7.84 million) funding round, marking a significant milestone in its mission to bridge the gap between traditional IT security and the complex, high-stakes world of industrial operations. The financing round was led by Contrarian Ventures, with notable participation from Axeleo Capital and Curiosity, signaling strong investor confidence in the company’s specialized approach to protecting the backbone of global infrastructure.
Emerging from stealth mode only in early 2026, Indurex has rapidly positioned itself as a critical player in the cybersecurity ecosystem. Founded by industry veterans Jalal Bouhdada and Maarten Oosterink, the company addresses a long-standing vulnerability in the way industrial facilities manage their security posture. While traditional cybersecurity tools have long focused on securing IT networks and individual digital assets, Indurex is betting on a more holistic strategy: integrating engineering, process, safety, and security data to provide a comprehensive view of operational technology (OT).
The new capital infusion is earmarked for a multi-pronged growth strategy. A significant portion of the funds will be directed toward ongoing research and development to refine the company’s flagship platform, SafeGuard AI. Furthermore, the company plans to utilize the investment to accelerate its commercial expansion, starting with an aggressive push across Europe and the Middle East. Looking further ahead, Indurex has outlined clear intentions to enter the United States and Asia-Pacific markets, regions where the demand for robust industrial security is currently outpacing available solutions.
Addressing the Convergence of IT and OT
The core of Indurex’s value proposition lies in its ability to look beyond the network. For years, the industrial sector has been plagued by a fundamental disconnect: IT security teams often focus on network perimeter defense and endpoint protection, while the engineers responsible for running physical processes—such as chemical plants, power grids, or manufacturing lines—prioritize uptime, safety, and mechanical integrity. This divide often leaves "blind spots" where malicious actors or accidental misconfigurations can compromise physical operations.
SafeGuard AI, the platform developed by Indurex, is designed to synthesize data from an array of disparate sources. By ingesting information from distributed control systems (DCS), safety instrumented systems (SIS), process historians, alarm management systems, and existing IT security tools, the platform creates a unified operational intelligence layer. This integration allows the software to identify anomalies that traditional security tools would miss.
For example, a change in a safety instrumented system’s configuration or an unexpected alteration in a process protection setting might look like routine maintenance to a network monitoring tool. However, in the context of the physical process, such a change could represent a dangerous vulnerability or a precursor to a cyberattack. Indurex’s platform identifies these deviations and presents them to operators in a way that relates directly to the physical systems they are managing, enabling faster, more informed decision-making.
Deep Industry Roots
The credibility of Indurex is deeply rooted in the experience of its founders. CEO Jalal Bouhdada is a well-known figure in the industrial cybersecurity sector, having previously founded Applied Risk. That company became a recognized leader in the field, eventually drawing the attention of DNV, the global assurance and risk management firm, which acquired Applied Risk in 2021. This exit underscored the growing importance of specialized industrial security in a world where physical processes are increasingly digitized and connected.
Working alongside Bouhdada is COO Maarten Oosterink, who brings a complementary set of operational and strategic skills to the leadership team. Together, they have built Indurex with the specific intent of moving beyond the "network-centric" mindset that has historically defined the cybersecurity industry. Their approach reflects a shift in the market: as critical infrastructure becomes more connected, the line between a cyberattack and a physical safety incident has effectively vanished.
Early adopters of the Indurex platform include a diverse range of energy and manufacturing operators. The company’s customer base spans from mid-sized regional players to massive multinational enterprises, indicating that the need for this level of granular, process-aware security is universal. Beyond energy and manufacturing, Indurex is actively targeting utilities and data center operators—sectors where even minor operational disruptions can result in catastrophic financial or societal consequences.
The Evolving Landscape of Industrial Threats
The need for companies like Indurex has never been more apparent. The threat landscape for industrial systems has evolved from isolated, accidental failures to highly sophisticated, state-sponsored cyber campaigns. Recent history is replete with examples of how vulnerable industrial control systems (ICS) can be exploited.
For instance, the energy sector remains a primary target for malicious actors. The well-documented activities of groups like Sandworm—linked to cyberattacks on the Polish power grid—demonstrate that critical infrastructure is increasingly viewed as a geopolitical chessboard. When adversaries can compromise the digital controls of physical power generation or distribution, the potential for widespread disruption is immense.
Moreover, it is not just power grids that are at risk. Security vulnerabilities in physical access control systems have also made headlines, showing that cybersecurity is not merely about data protection, but also about the physical integrity of facilities. In some instances, flaws in access systems have enabled unauthorized individuals to bypass physical security measures at major European firms, highlighting the interconnected nature of modern enterprise security.
While the market for industrial cybersecurity is maturing, it remains highly competitive. Established players like Claroty continue to raise massive amounts of capital—such as their recent $150 million Series F round—demonstrating that the broader market for securing OT environments is thriving. However, Indurex’s focus on the "engineering context" of security provides a distinct niche that differentiates it from broader network-monitoring incumbents.
Looking Toward the Future
As Indurex enters this new phase of growth, the challenge will be to scale its technology while maintaining the deep engineering expertise that its initial customers rely on. Expanding into the US and Asia-Pacific will require not only capital but also a nuanced understanding of regional regulatory environments, which often dictate how critical infrastructure is managed and secured.
The funding round led by Contrarian Ventures provides the financial runway necessary for this expansion. For investors, the appeal of Indurex is clear: it is a company tackling a "must-solve" problem in the industrial sector. By positioning its technology as an essential layer of operational safety, rather than just another IT security tool, Indurex is aiming to become a standard component of the modern, digitized industrial plant.
As the company prepares to roll out its platform across new markets, the industry will be watching closely to see if this engineering-first, data-integrated approach becomes the new gold standard for industrial cybersecurity. With a leadership team that has already successfully navigated the acquisition of a major security firm, Indurex appears well-equipped to navigate the complex, high-stakes transition of the global industrial sector toward a more secure, resilient, and digitally integrated future.
The path ahead for Indurex will involve continuing to prove that its platform can translate complex data into actionable insights for operators who, until now, have often felt that cybersecurity tools were built for IT professionals, not for the engineers on the front lines of production. By bridging this gap, Indurex is not just securing software; it is securing the physical processes that keep the lights on, the factories running, and the modern economy moving.
