Cybavo, a Singapore-based blockchain security solution provider, raised $4m in Pre-A funding round.
The round was co-led by 500 Startups, H&D Asset Management Company and New Economy Ventures. Other companies and investors from Taiwan, Silicon Valley, Singapore, Hong Kong and Japan also participated in the round.
The company intends to use the funding to accelerate expansion in the East Asian, European, and North American markets, invest in the research and development of cybersecurity and blockchain technology, and to further raise the level of customer and product satisfaction it delivers.
Led by Paul Fan, CEO, Cybavo provides blockchain security solutions in Asia Pacific to enterprise customers such as cryptocurrency exchanges, fund management companies, cryptocurrency wallet providers, and various fintech service providers. The company, insured by S&P AA-rated global reinsurance company, holds certifications for ISO 27001 and NIST’s Cryptographic Module Validation Program.
This year, Cybavo was accepted into 500 Startups’ flagship accelerator program, opened its first European office in Luxembourg and completed Fit 4 Start, Luxembourg’s 6-month startup acceleration program.