Cybersecurity startup CyCraft raises US$5.65m in Series B round

TAIWAN-BASED technology firm CyCraft, which provides artificial intelligence (AI) solutions to enhance cybersecurity of businesses, on Friday announced a US$5.65 million fundraise in a Series B round.

In total, CyCraft's total funding now amounts to US$8.15 million.  

Backers of this investment include Singapore-based investment company Pavilion Capital, and CID Group, an investment company based in Taiwan. 

Funds raised will propel the startup's research efforts in enhancing its AI technology and support market expansion in Asia. 

The firm has also formally launched SecOps Platform, an AI-driven platform which offers three variations of automated cybersecurity solutions. Firstly, Xensor spots cyber threats through forensics and remediation through quick scans. CyCarrier, another aspect of the platform, offers an interactive cockpit for quick threat-hunting and fast response in cyber kill chain with the use of AI. Lastly, CyberTotal acts as an integrated intelligence fusion system targeted at improving security findings gathered by users. 

Chee-Kong Choun, from Pavilion Capital, said: "With its strong R&D in innovative artificial intelligence for cyber resilience, CyCraft is at the forefront of major changes sweeping the cybersecurity industry."

Steven Chang, managing partner of the CID Group, said: "Cybersecurity is a key differentiator for all industry verticals in the age of technology disruption. CyCraft's performance over the past 18 months is testament to their vision and focus on technology." 

CyCraft's SecOps Platform is offered to eight partners across Asia, including Singapore, Taiwan, Japan, Thailand, Indonesia, the Philippines, Malaysia and Vietnam.