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Creating a trusted internet with augmented whitelisting

augmented whitelisting

In the cybersecurity industry, there is an arms race. Cybersecurity services providers and products are increasing their efforts in detecting new attacks (called zero-day vulnerability exploitations).

At the same time, cybercriminals are finding unheard ways to exploit networks. So far, ransomware gangs are winning – now is the time to invent or re-think if the current detection-only methodology is working.

In an arms race, the end result is that damages or threats are getting more destructive. First-generation ransomware only encrypts files.

Now, the latest ransomware attack uses inventive methods to maximize their threats. The attackers would extract a large quantity of sensitive information from victims before encrypting data, and then threaten to release or sell the stolen information, exerting greater pressure and urgency on the victims to pay the ransom.

Lockfile evades detection

AI and ML are used to detect abnormal behaviour in the network or PCs. But ransomware developers are not sitting ducks. Recently, there is new ransomware called Lockfile, using an innovative file encryption technique to evade detection.

It does not continuously encrypt files, it encrypts 16 bytes of data in a file and then skips 16 bytes. This saves time and is also harder to detect by cybersecurity tools. The data file is damaged (or taken hostage ) nevertheless. LockFile is just one example of this cat and mouse game, never-ending!!

“The use of blacklisting as a form of cybersecurity protection is common, but it requires ­security ­personnel to keep a permanent eye out for any ­malware they want to block from an agency’s IT ­environment. That can be a daunting prospect.” said Erin Brereton from fedtechmagazine.

Also Read: Explore cutting-edge cybersecurity tech at SINCON 2021

One method able to end this arms race is URL whitelisting. IT managers can isolate their network using whitelisting and only allow a list of trusted or pre-approved domains for users to access. These whitelists should only include well known, vetted and trustworthy websites, like banks or government websites.

Since ransomware is not hosted on these websites, it is impossible for ransomware to download or upload data as each network connection to malicious websites is blocked by default.

Whitelisting websites has its disadvantages and it is why it is not popular. Firstly, it reduces productivity – users are not able to access new websites or anything outside the whitelist. Secondly, maintaining the whitelist is resource-intensive with a complicated risk assessment process to approve new websites and add the domain name into the whitelist.

The inversion of whitelisting is blacklisting, which most of the security vendors are offering. They constantly collect logs, netflow or file hashes and then send alerts, threat intelligence or Indicator of compromise (IOCs).

Company security teams convert these alerts or threats intel into firewall rules or web filtering rules. It is a never-ending game and only effective if your company has a team of cybersecurity professionals. Collecting logs and user activities without violating privacy laws is also challenging!

“At first blush, this (whitelisting) seems to make security a snap: you don’t have to worry about new malicious code emerging as a threat to your infrastructure because the only things your machines can access are things you already know are safe.” by Josh Fruhlinger, journalist from CSO Online.

Augmented whitelisting

Traditional whitelisting is not user-friendly. Hence, we propose a new augmented whitelisting, which allows users to access unknown or not yet approved websites in a walled garden.

Augmented Whitelisting

With AP Lens augmented whitelisting, pre-approved or well-known websites are allowed and users access it directly. For example, the top 100K websites in users’ countries. When accessing a new website outside of this 100K domain, users are forwarded to an AP Lens virtual browser session.

Also Read: Practical tips to protect your business from cyber attacks

The virtual browser is delivered to the end-user instantly without any software install and in the same Chrome/Firefox/Safari/Edge. The website is opened automatically inside AP Lens with full user interactions.

In this new setup, the user’s freedom is not restricted and there is no blocking of information flow. The new website is fully operational inside a remote sandbox totally segregated from the company network.

The organisation should develop a web domain whitelist for each HyperText Transfer Protocol Secure domain and Secure Socket Layer domain.

Augmented Whitelisting means you enforce 100 per cent network protection without sacrificing users’ freedom or productivity. The walled garden by AP Lens is the key to augmented whitelisting. Users are using the internet inside a sandbox hosted in a cloud-based system.

Any attack or exploitation is totally separated from the company network. The uniqueness of AP Lens is that users can access the Internet instantly without IT support manually updating the whitelist which solves the major drawback when implementing whitelisting — a time-consuming process to update the URL whitelists.

With AP Lens,  productivity and cybersecurity are balanced, by combining whitelisting and cloud-based remote secure browsers.

Agentless and supports four popular browsers (Chrome/Firefox/Safari/Edge) on smartphone/desktop, AP Lens is a distributed cloud system that offers both low latency and also robust cloud infrastructure. Each AP Lens session is disposable which means that any attack or downloaded code is not stored or affecting the next session.

Also Read: What is web 3.0 and why should you care?

In 2021, we are facing an increasing level of targeted cyberattacks, at the same time cybersecurity industry is short-handed. It is time to adjust our cyber defence strategy with a new paradigm.

Do not overly rely on resource-intensive cyber threats detection and blocklist. Lockdown the network and let users access the internet in a walled garden offers simple and balanced web access protection.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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East Ventures, Lightspeed, senior execs from SEA’s unicorns back Geniebook’s US$16.6M Series A financing

Geniebook co-founders Neo Zhizhong and Alicia Cheong

Geniebook, a Singapore-headquartered edutech startup, has secured US$16.6 million in a Series A financing round co-led by East Ventures and Lightspeed Venture Partners.

Individuals, who participated in the round, include Dunce Capital’s John Danner, Unacademy’s Gaurav Munjal and Roman Saini, Snapdeal’s Kunal Bahl and Rohit Bansal and other senior executives from Southeast Asia’s unicorns such as Grab, Shopee, and Gojek. 

With the new investment, Geniebook intends to scale its current global personnel of 350 people with strategic hires in curriculum, engineering, product, and growth teams.

The funds will also be used to innovate existing products, including AI-personalised worksheets GenieSmart, live online classes GenieClass, and real-time teacher chat GenieAsk. 

Also read: Edutech is surging, but here are the 3 issues it is facing

Launched in 2017 by Neo Zhizhong and Alicia Cheong, Geniebook employs AI and machine learning to assist students in improving their academic performance through personalised experiences on its platform.

“More than ever today, with online pedagogy becoming essential, we must greatly enhance the digital experience to accelerate students’ learning,” said CEO Zhizhong. 

Geniebook supports the home-based learning gains through self-directed and social learning methods.

As per a press statement, Geniebook has achieved a 2,000 per cent growth rate since the beginning of 2019, with more than 150,000 users in Southeast Asia. Its revenue in Vietnam has increased 3x since its expansion into the country earlier this year.

So far, Geniebook has made inroads into Vietnam, Indonesia, and Malaysia, besides Singapore.

The startup claims it maintains profitability and positive cash flow thanks to a solid financial year in 2020.

“As we enter the second year of the pandemic, when schools and students have to seek online arrangements, edutech companies are playing an important role and have accelerated their delivery of solutions to users,” said Roderick Purwana, managing partner at East Ventures.

Before this round, GenieBook received US$1.1 million in pre-Series A round led by Apricot Capital, a Singapore-based diversified multi-asset private investment company. 

Global edutech revenues are anticipated to reach US$40.9 billion (S$56.3 billion) by 2022, with the Asia Pacific region accounting for more than half of worldwide market demand, reports Research and Markets.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Also read: Geniebook

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5 reasons why impact investing is becoming mainstream investing

impact investing

We have all heard about impact investing by now. Why are so many famous investors and entrepreneurs diving into it? And what is impact investing actually about?

Impact investing is the fastest-growing investment category in private markets. Unlike ESG in public markets, it’s not just about avoiding harm. It’s about actively generating positive outcomes alongside financial returns.

In a world facing unprecedented global challenges, this can be game-changing. At Top Tier Impact, we see companies addressing impossible challenges – from detecting wildfires before they even spread, to making cement sustainable.

The thing is that there are giant markets waiting to be unlocked by solving these issues. Making our planet sustainable is the quest of our century. It’s big business too. In this article, we’ll explore how impact investing is set to become mainstream investing quicker than any of us could expect.

Impact investing covers the biggest investment opportunities of this decade and beyond

Impact investing tackles the big issues of our time, from scaling renewable energy to making quality healthcare accessible for all. The way we define “impact” inside the global TTI community is as a global paradigm shift towards sustainability and equality, across all economic sectors.

That means it’s not just the sustainable part of the food or fashion industries, it’s about shifting those entire industries towards sustainability.

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

There are massive regulatory changes pushing in this direction. The Task Force on Climate-Related Financial Disclosures (TCFD) implements a framework for public companies to disclose their climate-related risks and opportunities. First, it became mandatory in the UK.

G7 countries are now following suit, alongside Singapore and Switzerland among others. There’s more to come in relation not just to climate, but also to nature and water.

Let’s not forget about other acts too, such as the EU sustainable finance disclosure regulation. It happens to be the biggest piece of EU legislation since the Second World War.

As Larry Fink, the founder and CEO of BlackRock, the world’s largest asset manager, has said in multiple statements, “Sustainability is the biggest corporate transition taking place in history”.

Impact investing focuses on enabling utopia, not avoiding dystopia

Impact investing is where growth and future-focused innovation are at. That’s because it has a positive focus on creating a better world. As an example, take the waste management industry, overall, it’s been growing at low-single-digit figures for the past 10 years.

When it comes to AI-driven waste robotics companies, which enable us to redeploy waste and recycle more efficiently, growth is in double digits.

When you look at it, you realize that it unlocks a lot of value.

Companies using such technology can reduce their costs and tap into new revenue opportunities. After all, waste doesn’t actually exist. It’s simply materials that aren’t in the right place. When they are, things change positively for everybody involved – companies, consumers and our planet.

Also read: Why is impact investing suddenly so hot?

Impact investing is where the brightest and most ambitious minds are at

When I graduated from Oxford University, the buzz was all about tech and startups instead of banks and finance. Today, I’m on the advisory board of my Oxford degree and I notice that the most ambitious graduates all want to make a positive impact on the planet.

They are well aware of the issues we are facing. They studied the problems and are thinking about the solutions. For them, the purpose is not an added career bonus.

Purpose has to be embedded at the core of a company’s actions, philosophy and structure. They are also naturally good at distinguishing greenwashing from a real commitment to impact.

Impact investing enables a planet where our species actually survives and thrives

When you dive into the numbers and science behind what we are currently facing, you understand that climate change, biodiversity loss and other trends aren’t just something ‘nice to avoid.’ You grasp the systemic implications for the survival of our species.

We haven’t been around that long on this planet and we are very delicate. When dinosaurs walked on earth, the levels of CO2 in the atmosphere were orders of magnitude higher than today.

It would have been impossible for us to cope with it. By accelerating changes in our biosphere, we’re not killing the earth, we’re killing ourselves, as we are way less resilient than this planet.

Impact investing is what both Millennials and Gen-Z are all about

Impact investing is part of a macro shift that is already underway. Generational shifts like this are huge and it’s not a question of if, just when.

Also Read: A wave of change: What sets impact investing apart from traditional investing

This is where the opportunity lies for us all: by proactively embracing impact, we can help make a positive difference sooner rather than later and we align with where the world is naturally going anyway.

Personally, I feel a connection to future generations. You can call it responsibility or simply recognizing that we are all on the same big rock together, floating in a universe we still have no clue about. This might sound daunting, but it’s also very beautiful. Showing up with care, compassion and commitment is something that we owe to each other and to ourselves too.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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Auspac Investment Management launches US$50M fund to back SEA startups

Allen Cheong, co-founder and CEO of Auspac Investment Management

Allen Cheong, co-founder and CEO of Auspac Investment Management

Auspac Investment Management, an investment vehicle of Australia’s Auspac Financial Advisory, has launched its first fund focusing on Series A-stage startups in Southeast Asia.

The Singapore-based investment vehicle targets to raise US$50 million over the next 18 months from wealthy individuals, corporates and family offices after closing the first tranche of US$5 million from its Australian parent in September.

The vehicle recently joined the US$6 million Series A round of Malaysian insurtech startup PolicyStreet and plans to deploy its new capital in two to three more in the next four months in tandem with Auspac’s fundraising process. 

Allen Cheong, co-founder and CEO of Auspac Investment Management, told e27 that it would adopt the “1,2,3,4,5” investment approach. In this model, ‘1’ refers to the Southeast Asia region; ‘2’ means megatrends of digital transformation and adoption; ‘3’ means three sectors (healthtech, fintech and e-commerce); ‘4’ refers to four countries (Malaysia, Vietnam, Singapore and Indonesia); and ‘5’ means five investment principles. 

“We adopt this kind of a pyramid approach that provides people with a simple snapshot of how we go about looking at investments,” said Cheong. “Our principle is to look at the addressable market, the revenue business model, the pain point, the management team, and lastly, the valuation and exit step.” 

Cheong added that Auspac intends to invest in 15-20 businesses over three years at cheque sizes ranging from US$1 million to US$3 million. With two to three deals in every half year, the vehicle expects to generate a 30 per cent internal rate of return.

Also read: A horse of another: Here’s the full list of Southeast Asia’s 24 unicorns

With a team of six Singapore-based people, Auspac prioritises a co-investment strategy to leverage its portfolio’s due diligence process and advisory component.

“The collective team experience, both on the buy-side and sell-side, should be Auspac’s strong selling point that helps us evaluate the deal more holistically,” Cheong added. 

The VC firm noted that it only invests in startups that have started to earn money to reduce the failure rate. The founder is also concerned about regulatory hurdles in the rapidly evolving digital markets in Southeast Asia. 

“Something that we always need to be mindful of is how regulation affects the operating environment under which these startup models operate,” said Cheong. “But I believe that the governments are actually more inclined to promote the ecosystem so this regulatory risk can be managed and compensated accordingly.”

According to Singapore’s Cento Ventures report, VCs invested in a record-high number of deals in Southeast Asian startups in the first half of this year. Indonesia led the chart with half of the capital raised in the region, followed by Singapore, which accounts for 32 per cent of the total fundings.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image Credit: Auspac Investment Management

 

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MarketWolf scores US$5.5M investment to simplify trading experience for short-term traders

MarketWolf founder and CEO Vishesh Dhingra

MarketWolf, an ‘intra-day options only’ trading app, has bagged US$5.5 million in a fresh round of seed funding from a slew of high-profile individual investors.

These individuals hold senior positions in renowned PE firms, investment funds, fintech and consumer internet startups. Among them are Anil Thadani, Ashutosh Sinha, Roy van Leeuwen, Tomas Urbanec, Anuj Srivastava and Ramakant Sharma.

Also Read: How cloud technology makes trading a hassle-free experience

The startup will use the new funding to build new products, expand its user base and attract top talent.

Vishesh Dhingra, founder and CEO of MarketWolf, said: “We aim to create a global community of MarketWolves – people who learn psychology, knowledge and tools to trade well in all market conditions and train each other to become better traders. In an industry that has been largely categorised into only bulls and bears, MarketWolves will be a worthy addition.”

The company was started in 2017 by Vishesh Dhingra (CEO) and Thomas Joseph (COO). MarketWolf helps people interested in short-term trading by simplifying the trading experience, removing unnecessary jargon and complexities associated with options, and educating them while protecting their capital with built-in risk features.

The firm does not give tips; instead, it “creates the right conditions and ecosystem for users to make better trading decisions”. The startup charges brokerage only when a trade makes a profit.

India is MarketWolf’s first market where its trading accounts increased by 4x, and monthly active users multiplied to 10x over the last few months. The company claims it has clocked over one million app downloads (Android and iOS) so far.

Also Read: How tech-driven trading can help enhance liquidity for investors

MarketWolf earlier raised US$1.7 million in angel funding and has raised a total of US$7.2 million to date.

Besides Singapore, the firm has offices in Mumbai, India.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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