Behind the screens: Who’s protecting our digital spaces?

Sign up for the Daily Newsletter, sent exclusively to our Premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a Premium subscription.

Hello reader,

I’ve always found it funny how media portrayals of cybersecurity and hacking have always been rather inaccurate, to say the least. Just look at this clip from NCIS, or this one from Castle.

Part of me thinks it’s an inside joke among Hollywood writers: omg Who can come up with the most outlandish, flat-out wrong depiction of hacking and cybersecurity and get away with it?

Thankfully Hollywood isn’t reality, and we’ve got lots of actual professionals who can help us defend our digital infrastructure. To know which companies in Southeast Asia are shielding us from cyber threats, check out our premium story for today.

Today we look at:

• The cybersecurity companies across Southeast Asia
• An eco-friendly brand for home cleaning bags new cash
• Other newsy highlights such as Tencent’s revenue drop this quarter and the new association established in Singapore by Deliveroo, Foodpanda, and Grab.

Premium summary

Defenders of the cyber realm

Image credit: Timmy Loen

As a kid, I thought that cyberdefense was all about the lines of code running down the screen and frantic typing on a keyboard. I had no idea that in reality, it’s not about who can type code the fastest. The day-to-day work of cybersecurity might not be as exciting as I imagined it to be, but it’s definitely important work.

• Held hostage: Ransomware has become a common term – it’s the biggest cyberthreat not only in Southeast Asia but also across the globe. The ease of execution is one of the reasons for its popularity among hackers, and some of them are even offering ransomware as a service to make even more cash. By 2031, this type of software could cause US$265 billion in damage per year.
• Crypto victims: The cryptocurrency sector has been the focus of many cyber attacks. Around 400 Crypto.com accounts were hacked in January while Vietnam-based Sky Mavis lost over US$600 million in cryptocurrency in March. As such, some cybersecurity startups such as Merkle Science and Spatium have started offering solutions and services designed to safeguard crypto exchanges or stress-test their security systems.
• At the heart of the region: Singapore has been a haven for cybersecurity startups: 22 out of the 27 firms on our list are based in the city-state, making it an attractive place for investors. For example, Singapore-based Acronis raised funding rounds of US$147 million and US$250 million in 2019 and 2021, respectively.

Read more: Mapping out SEA’s digital defenders

Startup spotlight

A good time with funding

Apply for the chance to meet your most relevant investors at Tech in Asia Conference!

Quick bytes