CYFIRMA founder and CEO Kumar Ritesh
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.
The post MDI Ventures invests in CYFIRMA to fortify Indonesia’s cybersecurity ecosystem appeared first on e27.