To improve SEA’s cyber security, Singapore’s CYFIRMA obtained funds from MDI Ventures
To improve Southeast East Asia’s (SEA) cyber security, Singapore-based cybersecurity company CYFIRMA has obtained funding from Indonesian venture capital firm MDI Ventures.
In a statement released on Tuesday, CYFIRMA said that this investment demonstrates MDI Ventures’ dedication to supporting creative startups that tackle important issues in the current digital environment, especially in Southeast Asia.
With this investment, the business will be able to reach a wider audience and increase its research and development (R&D) efforts to improve its ability to fend off increasingly sophisticated cyberattacks.
With the investment, CYFIRMA will be able to reach new markets around the world and increase its presence in Southeast Asia, especially in Indonesia.
The support of MDI Ventures will also strengthen CYFIRMA’s research and development efforts, improving its capacity to fend off sophisticated cyberthreats and provide proactive solutions tailored to the unique requirements of local companies.
CYFIRMA has a solid reputation in Asia and international markets thanks to its creative approach to cybersecurity.
“We are thrilled to welcome MDI’s investment as this opens big opportunities for partnerships and collaboration with the Telkom Group ecosystem,
“MDI’s investment will also allow us to greatly enhance our capacity to drive innovation, broaden our solutions, and better serve our clients both regionally and globally,” said Kumar Ritesh, Founder and Chief Executive Officer of CYFIRMA.
The urgent need for cutting-edge cybersecurity solutions is being driven by the increasingly complex cyberthreats that Southeast Asia, including Indonesia, is facing, according to Donald Wihardja, CEO of MDI Ventures.
“Through our investment in CYFIRMA, MDI Ventures is addressing these challenges by enabling the development and delivery of proactive and innovative solutions to protect organizations across the region from evolving cyber risks,” he noted.
It should be mentioned that MDI Ventures saw CYFIRMA and Telkom Group’s potential for cooperation in cyber security solutions.
“As the investment arm of Telkom Indonesia, MDI Ventures envisions CYFIRMA playing a key role in strengthening Telkom Group’s cybersecurity by integrating CYFIRMA’s threat intelligence and external threat landscape management solutions,” Donald added.
By connecting the resources of Telkom Group with the capabilities of creative startups like CYFIRMA, MDI Ventures hopes to support the development of a safe, long-lasting, and prosperous digital ecosystem in Indonesia and abroad.
The multi-fund venture capital firm MDI Ventures has a committed valuation of $830 million.
MDI Ventures, which is run by the biggest telecom provider in Indonesia, is regarded as one of Asia’s best performing funds.
PT Telekomunikasi Indonesia Tbk (Telkom Group), its parent company, is a state-owned business that is listed on the Indonesia Stock Exchange. The New York Stock Exchange also lists it as a secondary listing.
Cyber-intelligence, attack surface discovery, and digital risk protection are all combined by CYFIRMA to provide multi-layered, contextual, personalized, outside-in, and early warning insights.
To help clients get ready for upcoming attacks, the company has developed External Threat Landscape Management (ETLM), a next-generation artificial intelligence (AI)-powered threat intelligence platform that gives cyber defenders a hacker’s perspective.
Singapore serves as the home base for CYFIRMA, which also maintains offices in the US, EU, Japan, and India.
Fortune 500 businesses in the manufacturing, financial services, retail, industrial products, natural resources, and pharmaceutical sectors are among its clients, in addition to the government.
