Asia Digest: SecuLetter raises $8m; ProtoPie expands Series A with $6.3m

South Korea-based information security company SecuLetter has raised $8 million in a Series B funding round, while prototyping software company ProtoPie has raised $6.3 million in additional funding in its Series A round from new investors.

S Korea’s SecuLetter raises $8m Series B 

South Korea-based information security company SecuLetter has raised $8 million in a Series B funding round led by a group of investors, according to an announcement.

This investment included $2 million from UTC Investment in late February, three months after raising $6 million in November 2019.

This funding round brings SecuLetter’s total funding to $10.02 million. It was led by Riyadh Valley Company, a Saudi Arabian venture capital firm, KDB Bank (Korea Development Bank), Korea Investment Partners and UTC Investment.

SecuLetter’s valuation is estimated to be $38 million, the company said in the announcement.

SecuLetter is an information security company that develops products using proprietary reverse engineering diagnostic technology to detect, analyze and block malicious code attacks, that are difficult to diagnose by signature and behavior-based security solutions.

The company said that it will use the fresh funding to expand its product lineup, develop more sophisticated products that incorporate AI-based malware detection and CDR (Content Disarm & Reconstruction), and to strengthen its R&D capabilities.

“Based on the proven technology in the domestic market, SecuLetter plans to actively challenge the global security market, including the Middle East market including Saudi Arabia this year,” said Lim Chasung, CEO at SecuLetter.

Seoul-based ProtoPie raises $6.3m Series A+

ProtoPie, an interactive prototyping tool for digital designers, has raised $6.3 million in additional funding for its Series A round. According to an announcement, this round brings in its first Silicon Valley investors and Vela Partners.

With this round, ProtoPie’s total venture capital funding to date stands at $9.9 million. The company plans to use the fresh funding to establish its North American headquarters, accelerate customer acquisition and explore key strategic partnerships in the Bay Area.  

Based in Seoul, ProtoPie, commercially launched in 2017, allows designers to utilize sensors in smart devices and sound sensors in highly interactive prototyping.

In 2018, the company had raised $3.5 million in a Series A round led by Korea Investment Partners and backed by Kolon Investment and POSCO Venture Capital.

It had earlier raised a pre-Series A round with venture capital firm Evergreen Investment Partners and the investment arms of international giants Samsung and LINE.  

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.