India’s Z3 Partners invests in cybersecurity firm

The exact amount was not disclosed by the firm. However, it has received a total of $8 million in venture capital funding to date, according to a Tech in Asia report shared on the firm’s LinkedIn page. Existing investors include Goldman Sachs and India’s Zodius Capital.

Founded in 2017, Cyfirma is headquartered in Singapore and Tokyo. It claims to offer cyber threat analytics that use artificial intelligence and machine learning algorithms to process information on the internet and on the dark web, a cryptographically-secure section of the internet used by individuals seeking to escape detection.

According to Z3 Partners, Cyfirma has a significant presence within the Japanese enterprise market. The firm’s founder, Kumar Ritesh (pictured), was previously a vice-president with Singapore-headquartered Antuit, a big data processing firm. Cyfirma plans to use the funding to grow the team and expand its presence in new Asian markets and the US.   

“We are excited to partner with Kumar Ritesh and his team to build Cyfirma into a dominant cyber threat analytics global player. Cyfirma ‘s offering is well-timed with the rapidly increasing demand for quality threat intelligence to guide digital transformation and drive business results," said Gautam Patel, a managing partner at Z3Partners.

Z3Partners launched a technology-focused venture capital fund last year. Cyfirma is the first investment. Patel was the co-founder of Zodius Capital, an early-stage growth fund acquired by KKR-backed Avendus Capital in 2017. Zodius had previously seeded Antuit in 2013 with Goldman Sachs investing a couple of years later. 

Separately, Zodius Capital also led a $19 million funding round in Onsitego, an app offering extended warranty services, last week. Onsitego insures purchases of consumer products like televisions and washing machines. Accel India and the company’s parent in the US also joined the fundraising effort.

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• Topics
• Southeast Asia
• Technology
• Early-stage
• Singapore
• Japan
• Z3 Partners
• India