MDI Ventures, the venture capital arm of Indonesian telecommunications giant Telkom Group, has made a strategic investment in Singapore-based threat intelligence and external threat landscape management startup CYFIRMA.

The investment aims to boost CYFIRMA’s growth and enhance its global cybersecurity solutions for enterprises, particularly in Southeast Asia.

This funding will enable CYFIRMA to expand its market reach, especially in Indonesia and extend into other global markets. It will also fuel the startup’s R&D initiatives, allowing it to enhance its capabilities in countering advanced cyber attacks.

Also Read: Worried about cyber threats? Here’s 7 reasons to get an all-in-one solution

“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 organisations across the region from evolving cyber risks,” stated Donald Wihardja, CEO of MDI Ventures.

CYFIRMA combines cyber-intelligence with attack surface discovery and digital risk protection to deliver early warnings and multi-layered insights. Its AI-powered external threat landscape management (ETLM) platform provides cyber defenders with a hacker’s view to help clients prepare for impending attacks.

The company has a global presence with offices in Japan, India, the US, and the EU.

Kumar Ritesh, founder and CEO of CYFIRMA, said: “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.”

Also Read: Indonesia’s antivirus reliance: A cybersecurity blindspot

The collaboration also has significant implications for Telkom Group. MDI Ventures envisions CYFIRMA playing a crucial role in strengthening Telkom Group’s cybersecurity by integrating CYFIRMA’s threat intelligence and external threat landscape management solutions.

MDI Ventures, with a total committed valuation of US$830 million, aims to bridge the gap between innovative startups like CYFIRMA and the resources of Telkom Group to foster a secure digital ecosystem in Indonesia and beyond.

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Banyu, an integrated seaweed company in Indonesia, has closed a US$1.25 million seed funding round led by Intudo Ventures.

The funding will enable the company to establish a seedling cultivation laboratory and nursery and expand its farming and exporting operations.

Indonesia is the world’s largest producer of tropical seaweed, yet several issues plague the industry, including low-quality inputs, labour-intensive practices, a lack of price transparency, and poor access to financing. Banyu addresses these challenges by providing comprehensive support to farmers, traders, and processors.

Founded in December 2023, the company supports local farmers through high-quality seedlings, advanced farming techniques, and access to stable incomes. Its approach includes proprietary seedling production methods, which have been shown to increase yields by up to 20 per cent compared to traditional methods.

Also Read: Why ‘Indonesia-only’ Intudo Ventures believes SEA as one cohesive market is a fallacy

Led by Dodon Yamin (CEO), Anis Nur Aini (Chief Sustainability Officer), and Anthony Kwik (President Commissioner), Banyu works closely with international FMCG and ingredient companies, offering seaweed for food production and emerging applications like biofertilisers and bioplastics.

The company tailors its offering to meet specific buyer requirements, including seaweed species, quantity, and environmental and social standards. This allows buyers to start with a small-scale demo plot before scaling up production. Banyu provides ongoing training, knowledge transfer and technology to help farmers cultivate high-quality seaweed.

Banyu intends to become Indonesia’s largest high-volume seedling producer, initially targeting Sulawesi before expanding to other major seaweed-producing regions.

Intudo, an investment firm with operations in Indonesia and Silicon Valley, sees Banyu as helping Indonesia move up the seaweed value chain. By improving productivity and sustainability, Banyu can expand its addressable market worldwide, positively impacting Indonesian coastal communities.

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Singapore-based uHoo, a provider of smart indoor environmental quality (IEQ) monitoring and management solutions, has closed a US$3.7 million funding round.

The funding, a mix of equity and debt, will propel uHoo’s growth, particularly in the B2B sector and facilitate the development of new hardware and software products.

Wavemaker Ventures and Menarco Development Corporation led the funding round, which was participated in by Undivided Ventures, Raymond Rufino, Lighthouse Canton, and existing shareholders.

This investment comes as organisations globally increasingly focus on sustainability and environmental, social, and governance (ESG) initiatives. The demand for healthier, greener buildings is rising as businesses recognise the direct impact of indoor air quality (IAQ) on employees’ health, productivity, and well-being.

Also Read: uHoo raises fresh funding led by Wavemaker to ‘meet the increased demand’ for its indoor air quality sensors

uHoo’s flagship product, the uHoo Aura, is a comprehensive IEQ solution that monitors at least 13 parameters, with the ability to upgrade to 16. It provides real-time data on critical environmental factors, including temperature, humidity, air quality, noise levels, chemical pollutants, and various particle sizes.

These insights help building owners, managers, and tenants create more comfortable and healthier indoor environments while improving building performance. The system seamlessly integrates with existing building systems, allowing for automated controls of air conditioning, ventilation, and heating, which enhances occupant health and saves energy.

uHoo’s diverse clientele includes major property developers, multinational corporations in real estate, healthcare, finance, hospitality, and manufacturing, and government entities across Asia, Europe, and the Americas. Capitaland and JLL are among its clients.

According to Joel Ang, Principal at Wavemaker Ventures, uHoo’s approach to IEQ monitoring and management is comprehensive and can transform building operations. He noted that uHoo’s data and actionable insights enable customers to create healthier environments, enhancing their sustainability efforts.

Carmen Jimenez Ong, founder of Menarco Development Corp, stated that uHoo has helped them identify previously unseen issues, such as ventilation problems in high-traffic areas.

In 2020,  uHoo raised an undisclosed amount in a funding round led by Wavemaker Partners with participation from Enterprise Singapore and PropertyGuru Group co-founder Steve Melhuish.

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East Ventures, a Southeast Asian (SEA) venture capital firm, announced that it has concluded its first general partner-led (GP-led) secondary transaction.

Led by global secondary market specialist Coller Capital, the deal offered liquidity to investors in East Ventures 5 L.P. (EV5), a fund focused on seed and early-stage investments in SEA tech companies.

According to the firm, the transaction brings the fund’s distributions-to-paid-in capital (DPI) ratio to approximately 2.0x.

EV5, a top-performing fund within the firm’s portfolio, is anchored by notable technology companies such as IDN and Waresix. The transaction includes a profit participation component, allowing investors to secure returns while maintaining exposure to the fund’s future growth.

East Ventures will remain a key shareholder in these companies, continuing its role as an active partner to their management teams.

Also Read: uHoo secures US$3.7M to drive growth in smart indoor air quality solutions

Co-Founder and Managing Partner Willson Cuaca said, “We are pleased to partner with Coller Capital in designing a solution that delivers significant liquidity for our investors while maintaining strong partnerships with the companies in our portfolio. We believe these businesses are well-positioned to benefit from the growth of Indonesia’s digital economy.”

Coller Capital underwrote the transaction and praised the collaboration. “SEA is an exciting market with substantial growth potential, and we are proud to partner with East Ventures on this transaction,” said Peter Kim, Partner and Head of Asia and RMB at Coller Capital. “This deal reflects our ability to provide innovative liquidity solutions that align the interests of sponsors and their limited partners.”

UBS Private Funds Group served as an advisor on the transaction, with legal counsel provided by Gibson, Dunn & Crutcher for East Ventures and Debevoise & Plimpton for Coller Capital.

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Image Credit: East Ventures

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Have you watched Squid Game 2?

As someone with over 10 years of experience in Public Relations, I couldn’t help but notice the Front Man’s incredible ability to manipulate and persuade. The Front Man is truly a character who continues to fascinate me, as I’m constantly deconstructing how people influence and argue.

His tactics felt eerily familiar. They also reminded me of someone I know in real life with Type A personality traits, which made it easy for me to connect with the Front Man’s persuasion patterns. Even as his methods took a darker turn, they felt unsettlingly real.

Recap: A clash of ideologies

At the heart of Squid Game 2 lies an ideological battle between the Front Man and Gi-hun. The Front Man believes humanity is inherently selfish and irredeemable, while Gi-hun represents hope, believing people can change and support one another. Their conflict forces viewers to grapple with their own beliefs about human nature.

Halfway through Squid Game 2, I was suddenly reminded of a conversation I had with a wealthy crypto bro who knew several business people of eight to nine figures in net worth.

I once asked him, “Why don’t the privileged and powerful pool their resources to solve the world’s problems?” His reply stopped me in my tracks: “They’re the ones who created the persistent problems, why would they fix them?”

Over time, I began to see the truth in his words. Like the VIPs in Squid Game, there are forces that thrive on keeping the status quo intact. Especially with AI today, we now definitely have the resources to address issues like poverty and climate change but solving these problems very often do not align with the interests of those in control.

The top one per cent of the world’s elite set the rules, leaving the rest of us to play within the games that they have created. To truly change the system, good intentions and hard work alone won’t suffice. The 99 per cent will need to elevate ourselves—mentally, emotionally, and strategically—to access the influence and resources necessary to create meaningful change.

But is that even possible, because the majority of human beings may not fundamentally want change?

Was this also what The Front Man was driving at? There seems to be a part of him that secretly wishes to change the system through Gi-hun.

But after finding out that Gi-hun would rather sacrifice his own allies for his horribly-thought out coup, the Front Man probably realised that change was not possible and stopped playing.

The Front Man’s mastery of persuasion

This made me feel that The Front Man is truly a master persuader. His strategies rely on a deep understanding of emotions and motivations.

Unlike his role as Game Operator in Squid Game 1, he takes on the role of Player 001 in Squid Game 2, and his actions are nothing short of calculated genius.

Also Read: Failing the Olympic hurdle: Is it the beginning of the end for the Airbnb boom?

One of the most striking moments happens during the first round of voting. The Front Man casts the deciding vote, choosing “O” (to continue the games) despite the overwhelming tension in the room. This move isn’t random—it’s designed to demonstrate to Gi-hun how desperation drives people to do anything for money. Through this single action, he puts his ideology on full display.

When Gi-hun confronts him about the vote, the Front Man doesn’t miss a beat. He uses Gi-hun’s own logic against him, explaining that he voted “O” because Gi-hun’s previous victory gave other gamblers hope. It’s a masterful manipulation that reframes the situation entirely.

Another chilling moment occurs during the mingling game. The Front Man and Gi-hun save Player 149, Geum-ja, and ask her a seemingly innocent question: “Where is your son?” in the room. This question is far from casual. It’s designed to strike a nerve, forcing Geum-ja to confront the painful truth that her son has abandoned her when push came to shove.

This wasn’t idle conversation—it was a strategic move to trigger an emotional reaction. Geum-ja’s realisation leaves her shaken and she retaliated emotionally, highlighting the power of the Front Man’s subtle yet devastating methods.

He doesn’t lie or manipulate facts; he simply holds up a mirror, forcing others to see the truths they’d rather ignore.

A deep understanding of human nature

This mastery raises an unsettling question: Is it his persuasion that’s dark, or is it a reflection of human nature itself? The Front Man’s tactics reveal the power of understanding human instincts and using them as leverage to achieve desired outcomes.

What do you think? Could you beat the game—and how?

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Image courtesy: Squid Game 2

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