CYFIRMA, a Singapore-based cybersecurity company, has secured funding from Indonesian venture capital firm MDI Ventures to enhance Southeast East Asia (SEA)’s cyber security.
CYFIRMA said in a statement on Tuesday that this investment underscores MDI Ventures’ commitment to fostering innovative startups that address critical challenges in today’s digital landscape, particularly in Southeast Asia.
This investment will help the company expand its market reach and bolster its research and development (R&D) efforts to enhance its capabilities in countering more advanced cyber attacks.
The investment will enable CYFIRMA to further expand its footprint in Southeast Asia, particularly in Indonesia, while also extending its reach into other global markets.
MDI Ventures’ backing will also fuel CYFIRMA’s R&D initiatives, enhancing its capabilities to counter advanced cyber threats and deliver proactive solutions that meet the specific needs of businesses in the region.
Known for its innovative approach to cybersecurity, CYFIRMA has established a strong track record in Asia and global markets.
“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.
Meanwhile, Donald Wihardja, Chief Executive Officer of MDI Ventures, said Southeast Asia, including Indonesia, is facing increasingly complex cyber threats, driving the urgent need for advanced cybersecurity solutions.
“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 is noted that MDI Ventures recognized the opportunities for collaboration in cyber security solutions between CYFIRMA and Telkom Group.
“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 bridging the capabilities of innovative startups like CYFIRMA with the resources of Telkom Group, MDI Ventures aims to contribute to the growth of a secure, sustainable, and thriving digital ecosystem in Indonesia and beyond.
MDI Ventures is a multi-fund venture capital firm with a total committed valuation of $830 million.
Operated under Indonesia’s largest telecommunications company, MDI Ventures is recognized as one of the top-performing funds in Asia.
Its parent company, PT Telekomunikasi Indonesia Tbk (Telkom Group), is a state-owned enterprise listed on the Indonesia Stock Exchange and has a secondary listing on the New York Stock Exchange.
CYFIRMA combines cyber-intelligence with attack surface discovery and digital risk protection to deliver early warning, personalized, contextual, outside-in, and multi-layered insights.
The firm has built the next generation of artificial intelligence (AI)-powered threat intelligence platform called External Threat Landscape Management (ETLM) to provide cyber defenders with the hacker’s view to help clients prepare for impending attacks.
CYFIRMA is headquartered in Singapore with offices in Japan, India, the United States, and the European Union.
Its customers include both government as well as Fortune 500 companies in manufacturing, financial services, retail, industrial products, natural resources and pharmaceutical industries.