Indurex, an Amsterdam company that builds AI software to protect industrial and critical-infrastructure systems, has raised €7m (about $7.8m). The company announced the funding on 22 October 2026.
Contrarian Ventures led the round, with Axeleo Capital and Curiosity taking part, according to the company's release. Tech.eu and SecurityWeek reported the same investors.
Indurex did not name the stage of the round or disclose a valuation.
“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.”Jalal Bouhdada, Founder & CEO, Indurex
What Indurex does
Indurex works on security for cyber-physical systems, the control and safety equipment that runs plants in oil and gas, energy, utilities, manufacturing and data centres. The company argues that conventional operational technology (OT) security tools concentrate on network-connected assets and traffic, and give operators little insight into whether engineering configurations, protection settings and safety functions are still set as intended. It calls its answer to that gap Engineering Intelligence.
Its product, SafeGuard AI, takes in data from distributed control systems, safety instrumented systems, process historians, alarm management systems and IT security tools. AI agents then point out anomalies and engineering changes that need a person to look at them and suggest what to do. The platform also automates compliance reporting against standards including IEC 62443, IEC 61511/61508, NIS2, NIST CSF and NERC CIP, the company said.
Indurex said its early customers range from mid-sized energy and manufacturing companies to large multinationals, and that it is also targeting utilities and data centre operators. It did not name customers. The release noted that Gartner listed the company as a Cool Vendor earlier this year.
Who is behind it
Jalal Bouhdada is the founder and chief executive. He previously founded Applied Risk, an industrial cybersecurity company that DNV acquired in 2021, SecurityWeek reported. SecurityWeek named Maarten Oosterink as chief operating officer and said Indurex emerged from stealth in January 2026. The sources did not give a founding date or headcount.
Bouhdada said in the release that cyber defences in these sectors had focused only on the network, while Indurex looks at the engineering, process and safety signals that show whether a plant is running within safe limits.
Rokas Peciulaitis, founder and managing partner at Contrarian Ventures, pointed to Bouhdada's record of building and selling a company in the field. Contrarian, founded in 2017, invests at pre-seed and seed and has offices in London, Paris and Vilnius. Curiosity is an Amsterdam firm that backs European AI software companies at pre-seed and seed, and Axeleo Capital invests in software and greentech companies from seed to Series B.
What the money is for
Indurex will use the funding for research and development and to build its commercial operations. Europe and the Middle East are the priority markets, with expansion into the United States and Asia-Pacific to follow.
The release cited the SANS Institute's State of ICS/OT Security 2025 survey, which found that 22% of industrial organisations had an ICS or OT cyber incident in the previous year. Of those incidents, 40% disrupted operations and nearly 20% took more than a month to fix, according to the survey.
No earlier funding rounds were reported in the sources.
Company website: indurex.ai