Singapore’s cybersecurity startup Responsible Cyber acquires digital identity wallet Secucial
Responsible Cyber (RC), a Singaporean cybersecurity startup that manages software security for small and medium businesses, has acquired Secucial, a startup building a digital identity wallet.
The acquisition reportedly values Responsible Cyber at US$4.9 million.
With this deal, RC has roped in NUS Enterprise and Singtel Innov8 as its new shareholders.
NUS Enterprise and Singtel Innov8 are the co-founders of ICE71, which stands for Innovation Cybersecurity Ecosystem at BLOCK71, and is the region’s first cybersecurity entrepreneur hub.
Secucial was part of the first cohort that graduated from ICE71 Accelerate, a three-month accelerator programme designed to help early-stage cybersecurity startups achieve a product-market fit in a unique technical and demanding industry.
The startup is also part of the ICE71 Scale programme, which helps international and local cybersecurity startups seize opportunities and grow their businesses in Singapore and within the Asia Pacific.
With the COVID-19 pandemic gaining momentum, Responsible Cyber aims to arm small and medium business owners with comprehensive cybersecurity support through its platform.
Also Read: Imbalance between work and personal life is a cybersecurity issue
gojek joins forces with Deliveroo, Advo, Ebb & Flow to provide delivery jobs for drivers
gojek Singapore announced today it has signed agreements with several organisations, including Deliveroo, Advo, and Ebb & Flow Group, to provide delivery services and create additional earning opportunities for its driver-partners during COVID-19.
Under the partnership with Deliveroo, gojek driver-partners will take on roles which involve picking up meals from restaurants and delivering it to customers as ‘circuit breaker’ period increases the demand for eating at home.
The drivers will service districts around Central Singapore, comprising Bukit Merah, Queenstown, Toa Payoh, and Geylang.
The ride-hailing company is also collaborating with Singapore-based education financing startup Advo, to deliver more than 2,000 meals to vulnerable and financially-needy single-parent households in Singapore.
Named #FeedaFam, the initiative by Advo is supported by food and beverage (F&B) partner, Ebb & Flow, a homegrown technology-driven F&B company.
gojek driver-partners will pick up freshly-cooked dinners from Ebb & Flow’s cloud kitchen and deliver them to the beneficiaries identified through Advo’s partnership with charity organisation HCSA Community Services (Dayspring SPIN).
Razer Fintech launches digital hackathon targeting youth
Razer’s financial technology arm Razer Fintech is launching its first-ever digital hackathon in Singapore, scheduled from May 15, 2020 to May 17, 2020, as a form of support for youth and local startups during the COVID-19 crisis.
These objectives are in line with the US$50 million COVID-19 Support Fund announced by Razer on April 9, 2020.
Also Read: Razer Fintech leads consortium for youth-targeted bank as part of digital banking license bid
The Razer Fintech Digital Hackathon will encourage Singapore tertiary students, young professionals, and the startup community to address critical financial challenges that have been exacerbated by COVID-19.
Winning participants will have the opportunity to implement and operationalise their original banking solutions within Razer Fintech’s financial services ecosystem or with its partners, through securing full-time employment, internships, investments, or commercial partnerships.
Participating teams will be encouraged to solve COVID-19 related financial challenges, utilising the fintech industry’s latest technologies and solutions. Teams will stand to win cash prizes of US$14,030 in total, and other prizes sponsored by Razer Fintech, Amazon Web Services (AWS), Mambu, Visa, PwC, FWD, and Perx Technologies and supported by Singapore Management University and the Singapore Fintech Association.
To participate in the Razer Fintech Digital Hackathon, teams of up to four can register through one of the following platforms by 6:00 pm SGT, May 13 2020:
- Sign up here.
- Email rf_hackathon@razer.com with the team member’s names, mobile numbers, and email addresses.
South Korea’s Smilegate invests in Vietnam’s sales and management platform Sapo
Vietnamese sales and management tech startup Sapo Technology has raised a Series A funding round led by the venture capital arm of Korean game developer Smilegate’s Smilegate Investment.
The round is also supported by Vietnam’s homegrown venture capital Teko Ventures, which already has a stake in the startup.
According to Nikkei Asia Review, Sapo CEO Tran Trong Tuyen confirmed that the investment is seven figures. The Series A funding is said to be used to strengthen Sapo’s footing in payment and business financing, and expand operations in other Southeast Asian markets, Tuyen said.
Established in 2008, Sapo — formerly known as DKT Technology — is a multichannel e-commerce management tool that merges the functions of its e-commerce website tool Bizweb and Sapo sales management software.
Sapo’s other products include Sapo GO, a tool for sellers on Facebook and online marketplaces, Sapo FNB for restaurants, Sapo Omnichannel, as well as delivery and payment units.
Flipkart-backed fitness tech startup Cure.Fit lets go of over 1,000 employees
Cure.Fit, health, fitness, and food startup have laid off 1,000 people in India.
According to Finance Rewind, the company had around 5,000 people in January this year.
Cure.Fit has multiple branches, such as Care.Fit, Eat.Fit, Cult.Fit and Mind.Fit which covers the businesses of health and diagnosis, food delivery and cafes, gym and fitness, and mental health and yoga, respectively.
The India-based company had reportedly forcefully sought resignations from 100 people on May 1. All the employees’ social media chat groups and work emails are shown to be inactive. However, they said the company agreed to pay salaries for 30 to 45 days.
The company’s official statement reads: “We have downsized our employee base across markets where we have shut operations and have initiated pay cuts across levels. The founders have taken a 100 per cent pay cut, the management team 50 per cent and the rest of the staff, depending on seniority, have a reduction of 20 to 30 per cent”.
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Photo by Philipp Katzenberger on Unsplash
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