TLDR:
StealthMole, a Singapore-based AI cybersecurity startup, has raised $7 million in Series A funding led by Korea Investment Partners. The funding will support the company’s international expansion and technology development for diverse sector applications. With cybercrime defense costs projected to double by 2027, StealthMole’s AI-enabled platform is crucial in combating cyber threats in the Asia-Pacific region.
Article Summary:
Singapore-based AI cybersecurity firm StealthMole has announced raising $7 million in Series A funding, with Korea Investment Partners (KIP) leading the round. The investment will support the company’s international expansion and further development of its technology for diverse sector applications.
StealthMole aims to meet the growing demand for cybersecurity solutions in the enterprise sector, particularly in the Asia-Pacific region where digital economies are rapidly growing, leading to increased risks of cybercrime. With cybersecurity defense costs projected to reach over $23 trillion by 2027, StealthMole’s innovative approach to cybercrime detection and mitigation is crucial.
The company utilizes an AI-enabled digital investigation and threat monitoring platform, leveraging large amounts of data to trace cybercriminals using advanced AI. Co-founders Louis Hur and Simon Choi emphasize the importance of understanding regional contexts to address cybercrimes effectively.
Investors like Korea Investment Partners, Hibiscus Fund, and Smilegate Investment have expressed strong support for StealthMole’s vision and impact on global cybersecurity. The company’s technology has significant potential in improving cyber incident responses and prevention in the B2B sector.
Overall, StealthMole’s funding round and focus on expanding its cybersecurity solutions are timely, given the increasing cyber threats in the Asia-Pacific region.
