Security Platform has raised a venture funding round from SoftBank Venture Korea and Premiere Partners while Hong Kong hardware accelerator Brinc has secured an investment from Artesian Venture Partners.
Security Platform raises $2.78m round led by SoftBank Ventures Korea
SoftBank Ventures Korea is the subsidiary venture arm of the Japanese conglomerate SoftBank Group while Premiere Partners is a local fund management company with a division that focuses on venture capital (VC) investments.
Su-ik Hwang, CEO, Security Platform, says the company has unicorn ambitions. He says, “We have prepared for a period of time in order to dominate the IoT security markets and technologies in advance. I am confident that we are definitely ahead of the ultra-light IoT security market in the ARM Cortex M0 class while others are still in R&D stage.”
Eugene Chang, a Senior Associate of SoftBank Ventures Korea, commented: “Through SoftBank’s ecosystem, Security Platform Inc. is highly likely to grow into a global company because it has a well-developed set of technologies and leads to a wide range of real-life applications.”
Brinc raises funding from Artesian Venture Partners
Hong Kong-based hardware accelerator startup accelerator Brinc has secured funding from Artesian Venture Partners to fund two programmes, provide startups with seed financing and potentially participate in follow-on investment.
The new initiative, Brinc Capital, will invest in IOT and drone programmes. Brinc has invested in 31 companies to date with portfolio firms such as Soundbrenner, Scorpiox and EyeRov. The accelerator takes pro-rata rights to participate in follow-on rounds for portfolio companies.
This latest investment will see Brinc double its investment rate and invest in 28 enterprises in 2018. The accelerator will invest $100,000 in IoT for 8-13 per cent equity and $70,000 in drones-as-a-service startups under similar equity terms.
Artesian Venture Partners is spun out of ANZ Bank (Australia/New Zealand). It targets accelerators as part of a strategy to access deal flow. The accelerator has also secured partnerships to expand to the Middle East, Poland and Israel as part of a long-term approach.