Blackpanda, a Singaporean company providing cyber emergency response services for businesses, has secured a substantial boost with a US$6.7 million strategic investment round co-led by Singtel Innov8 and Gaw Capital Partners, alongside WI Harper Group. This funding aims to propel Blackpanda’s expansion throughout Asia while enhancing its flagship “IR-1” cybersecurity solution. The investment, which brings Blackpanda’s Series A total to US$21.7 million, underscores confidence in its ability to transform cyber emergency response and recovery across the region.
The funding coincides with integrating Blackpanda Underwriting, Asia’s “first pure play” cyber risk underwriting coverholder, into its service portfolio. This strategic move completes Blackpanda’s comprehensive cyber resilience offering, addressing critical needs before, during, and after cyber attacks.
Gene Yu, Founder & CEO of Blackpanda Group, stated, “Cyber attacks are an existential threat to businesses, yet most lack access to affordable emergency response services. Our IR-1 solution provides price-optimized, end-to-end cyber emergency response for a fixed-cost subscription.” Singtel Innov8 CEO Ng Tian Chong emphasized the importance of bolstering cyber resilience amidst growing cyber threats, stating, “It’s imperative for businesses to have the right cyber protections in place to protect their critical assets.”
“Significant Oppurtunity”
Wan Kum Tho, MD Investments, APAC of Singtel Innov8, expressed confidence in Blackpanda’s localized approach and product suite, noting, “With the growing demand for cost-efficient and effective cyber incident response and cyber insurance across Asia Pacific, we see a significant opportunity for Blackpanda’s product suite to expand and grow in the region.”
While the strategic partnerships with major telecommunications providers across Asia, including Singtel and Macroview, could offer promising avenues for growth, the path ahead remains uncertain. Blackpanda’s ability to navigate the complexities of the evolving cybersecurity landscape and effectively capitalize on this investment will ultimately determine its success in democratizing access to robust cyber protection across diverse business sectors in Asia.
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