ArmourZero raises investment from Gobi Partners to expand AI-powered cybersecurity for SMEs
ArmourZero, a Malaysia-based cybersecurity company, has raised an undisclosed investment from Gobi Partners through its Gobi Dana Impak Ventures (GDIV) fund, backed by Khazanah Nasional Berhad. The funding will support its mission to provide artificial intelligence-driven cybersecurity solutions to small and medium enterprises across Southeast Asia.
Founded in 2022, ArmourZero offers cloud-based security-as-a-service solutions, including unified threat oversight, managed detection and response (MDR), and an AI-powered application security platform. The company partners with industry leaders such as CrowdStrike, Checkpoint, and Bitdefender.
ArmourZero plans to use the funding to accelerate innovation, expand its product suite, and enhance its regional market presence.
Vitruvian Partners leads USD 100 million investment in Klook
Klook, one of Asia Pacific’s leading travel experience platforms, has secured USD 100 million in fresh funding led by Vitruvian Partners. The capital will be used to enhance customer experience, optimize merchant operations, and integrate AI to improve internal productivity. The company also plans to expand its collaborations with tourism boards across the region.
Founded in 2014 and based in Hong Kong, Klook has raised over USD 1 billion across eight funding rounds. The platform offers attraction tickets, local experiences, rail passes, car rentals, and other travel-related services. Past investors include Matrix Partners China, Sequoia Capital, Boyu Capital, Goldman Sachs, and SoftBank.
Klook has built a strong presence in Asia, catering to independent travelers seeking immersive experiences. Its platform reportedly covers more than 2,700 destinations and offers over 500,000 activities.
ADI partners with AC Ventures to accelerate Indonesia’s green transition
Australian Development Investments (ADI), Australia’s flagship impact investment fund, has committed USD 8 million as an anchor investment in AC Ventures’ climate and sustainability fund. The fund focuses on renewable energy, electric mobility, energy efficiency, waste management, circular economy solutions, and climate-smart agriculture, with a goal of reducing 10 megatons of CO2 emissions.
This marks ADI’s first investment through KINETIK, the climate and infrastructure partnership between Australia and Indonesia. The initiative supports scalable businesses driving Indonesia’s transition to a low-carbon economy.
Atome Financial secures USD 80 million with backing from BlackRock and InnoVen Capital
Atome Financial, the fintech arm of Advance Intelligence Group, has expanded its senior secured term loan facility to USD 80 million with new commitments from a private credit fund managed by BlackRock and venture debt provider InnoVen Capital. The new tranche builds on the facility’s original USD 80 million funding from EvolutionX Debt Capital in June 2024.
Atome Financial, which operates the BNPL platform Atome and Indonesia’s digital lending platform Kredit Pintar, reported strong growth in 2024, with increases in revenue and gross merchandise value. The company also achieved full-year profitability.
The additional capital will support product expansion, strategic partnerships, and growth across Singapore, Malaysia, the Philippines, and Indonesia.
Tabby raises Series E funding ahead of IPO plans
Tabby, a buy now, pay later (BNPL) fintech company, has raised USD 160 million in a Series E funding round, bringing its valuation to USD 3.3 billion. The round was co-led by existing investors Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management.
The fresh capital will support Tabby’s expansion into digital spending accounts, payments, cards, and money management tools, aligning with Saudi Arabia’s Vision 2030 goal of promoting a cashless economy. The financing also strengthens Tabby’s position as it prepares for an initial public offering.
This funding follows Tabby’s recent acquisition of Tweeq, a Saudi digital wallet startup, expanding its financial services portfolio. The company primarily serves the Middle East and North Africa (MENA) region.
Saudi’s Neom invests in BCI technology firm Paradromics
Paradromics, a brain-computer interface (BCI) technology firm, has received an undisclosed investment from the Neom Investment Fund (NIF), the investment arm of Saudi Arabia’s Neom project. The partnership will accelerate the development of BCI-based therapies aimed at restoring and enhancing neurological function.
As part of the agreement, a research and clinical facility will be established within Neom to focus on healthcare applications for BCI technology. Paradromics’ first application will target restoring communication for individuals with ALS, stroke, and spinal cord injuries. Future applications may address mental health conditions, including mood disorders and chronic pain.
Hex Trust secures funding in round led by Morgan Creek Digital
Hex Trust, a digital asset custodian, has secured an undisclosed amount in a funding round led by Morgan Creek Digital, with participation from Injective and other investors. To date, Hex Trust has raised over USD 100 million, and this latest investment sets the stage for its anticipated Series C round later this year.
Founded in 2018, Hex Trust provides licensed custody, staking, markets, and investment solutions to banks, financial institutions, and asset managers. It operates in multiple markets, including Hong Kong, Singapore, Dubai, France, and Italy.
The new funding will be used to expand Hex Trust’s staking and markets businesses, explore acquisitions, and strengthen its institutional digital asset custody solutions.
East Ventures, Payd, Carsome, and more made recent headlines:
- East Ventures and SV Investment announced the first close of their joint interregional fund, backed by Korea Development Bank (KDB) and an undisclosed global neobank. The fund is expected to reach its final close by mid-2025.
- Payd, a Malaysian fintech startup, raised a USD 400,000 seed extension from A2D Ventures, Orbit Startups, and AngelSpark.
- Carsome, a Malaysia-based car e-commerce platform, ceded a 49% stake in its financing arm, Carsome Capital, to Japan Consumer Credit Service (JACCS). The deal establishes a joint venture aimed at serving underserved segments in Malaysia, with Carsome retaining a 51% majority share.
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