MON5 raises over €1.7m to scale industrial OT cybersecurity

The round includes a €1.4 million capital increase led by Primo Capital, with participation from Forward Factory (CDP Venture Capital), as well as the conversion of financial instruments from GDA Invest SCSp (Luxembourg based VC firm) and Cloud Accelerator.

Founded in Italy, MON5 expanded its operations to Luxembourg when selected for the Fit4Start Program, 14th edition. Through the program, the company established AARG Sàrl, built its R&D team, and launched operations in the Grand Duchy. The AARG team is now fully operational in Luxembourg and plans to continue growing rapidly through the end of the year.

MON5 is a strong addition to the Primo Space portfolio. As cybersecurity becomes increasingly critical to the space economy, the team stands out for its combination of commercial focus and deep technical expertise. We believe they are well positioned for significant growth in the years ahead.- Ilaria Cavalleri, Investment Principal at Primo Space

The Fit4Start acceleration program played a key role in refining MON5’s target market and go to market strategy. The network built through the program, including mentors and committee members, was instrumental in launching operations and building the team in Luxembourg. As a first step into the local ecosystem, Fit4Start was complemented by the broader support of key ecosystem players such as Luxinnovation, the House of Cybersecurity, and sector specific associations like LuxDefence, which provided practical tools, connections, and a supportive environment that made it easier to operate and scale in the country.

With the new funding, MON5 will expand its product development team and continue to invest in the evolution of its technology platform and commercial strategy. The company’s R&D operations are based in Luxembourg, where the team focuses on applying AI artificial intelligence to industrial cybersecurity. On the go to market side, MON5 will also expand into the aerospace sector, where demand for cybersecurity solutions protecting critical systems and infrastructure is rapidly increasing.

The MON5 platform is a dedicated solution designed for monitoring industrial OT environments, delivering full visibility across production plants while strengthening security in an increasingly interconnected and complex technological landscape. As digital transformation and Industry 4.0 initiatives continue to connect industrial systems, the attack surface has expanded significantly, making OT cybersecurity a critical requirement for operational continuity across manufacturing, public infrastructure, and defense organizations.

The MON5 platform already supports monitoring of 95% of the industrial protocols in use across Italy, with coverage expanding continuously as the platform evolves week after week thanks to ongoing R&D activities. A key capability is automated asset discovery, designed for organizations that have recently connected industrial machinery and lack full visibility into their OT environments. MON5 automatically identifies industrial assets and connections, while assessing alignment with IEC 62443 security requirements.

Comprehensive asset visibility is a prerequisite for securing industrial systems. With MON5 Asset Discovery, companies can quickly create an initial inventory of connected assets, supporting NIS2 compliance and enabling a structured approach to industrial cybersecurity.

MON5 can be deployed directly by industrial companies to monitor and protect their production environments, or integrated with existing Security Operations Centers (SOC) that manage infrastructure security from outside the organization. This approach enables coordinated IT and OT security management, significantly improving threat detection, response, and prevention capabilities.

As the NIS2 directive comes into force, a growing number of Italian companies are facing new requirements around cyber risk management and the protection of critical infrastructure. MON5 addresses several of the core requirements introduced by NIS2, helping organizations move toward compliance while strengthening their overall operational resilience.