Indurex raises €7M to bring Engineering Intelligence to critical infrastructure

Some founders you meet once and you already know you want to build with them. Jalal Bouhdada is one of them. This week, Indurex announced a €7 million round led by Contrarian Ventures, with Curiosity participating, and we are delighted to be part of this journey from the early days.

01. A problem that touches all of us

Most of us never think about the systems behind our daily lives: the power grid that heats our homes, the water network, the factories, the data centers that run our digital world. They simply work. Until they do not.

Today, these systems are more connected than ever, and more exposed. Electrification puts more critical infrastructure online every year, and attackers now use AI to move faster. When an attack reaches an industrial site, the consequences are not only digital. They are physical, and sometimes they are human.

For years, industrial security has watched the network. Jalal’s insight is that this is not enough. What matters is the process itself: are the engineering settings, the protection systems and the safety functions still doing what they are supposed to do? This is the layer Indurex protects, and very few teams in the world understand it as deeply.

02. What Indurex builds

Indurex calls it Engineering Intelligence. Its platform, Indurex SafeGuard AI™, connects to the systems that run industrial sites, from control and safety systems to historians, alarm management and IT security tools. AI agents read these signals together and bring forward what truly needs a human decision, with clear recommended actions.

The result for operators is concrete: fewer unplanned shutdowns, faster analysis when something goes wrong, security decisions aligned with real operational impact, and solid evidence for compliance with standards such as IEC 62443, IEC 61511/61508, NIS2, NIST CSF and NERC CIP. Gartner recognized Indurex as a Cool Vendor earlier this year.

03. Why we are so excited

First, the founder. Jalal has already built and sold a company in industrial cybersecurity, Applied Risk. He has spent his career on plant floors, with the engineers and operators who keep these sites running. He combines rare technical depth with a clear sense of mission, and his team shares it.

Second, the moment. Regulation is raising the bar across Europe, operators are under pressure, and the old tools were not designed for what is coming. Indurex arrives with the right product at the right time.

Third, it feels like home for us. Cybersecurity has been at the heart of Axeleo Capital since our first fund in 2017. We have since extended our conviction to AI-native B2B software and to industrial technology. Indurex brings these three passions together in one company, with a purpose that goes beyond software: keeping essential infrastructure safe. It also brings back fond memories of another European OT security adventure, born in Lyon and later acquired by Cisco, whose story remains very close to our team.

04. The road ahead

Indurex already works with operators ranging from mid-sized energy and manufacturing companies to large multinationals, across oil and gas, energy, utilities, manufacturing and data centers. This round will fund R&D and the commercial build-out in Europe and the Middle East, before the next step in the United States and Asia-Pacific.

To Jalal and the whole Indurex team: thank you for your trust. We are proud to stand by your side, together with our friends at Contrarian Ventures and Curiosity, two investors who share our conviction for European tech at the earliest stages.

Read the full announcement on indurex.ai.