Xage Security has announced an investment from Saudi Aramco Energy Ventures (SAEV), a subsidiary of Saudi Aramco.
Xage has also welcomed Norman Thorlakson to its leadership team as SVP of Sales and Business Development.
The recent funding and executive hire is intended to drive the company’s continued growth in the energy sector, enabling distributed IIOT deployments across oil and gas, renewables, water, wind, and more.
The investment from SAEV is an addition to Xage’s Series A round, bringing the total round size to over US$16 million. With an interest in improving secure operational efficiency and increasing value and production within the energy sector, the SAEV funding will enable industrial modernisation through the development and deployment of Xage’s decentralised and scalable security fabric.