Protos Labs secures $2.2M to expand to Vietnam

Southeast Asia experienced a significant surge in cybercrime, witnessing a dramatic 81% increase in 2022. This surge was attributed to the region's growing reliance on IT and digital technologies, as outlined in a recent study. Amongst the most vulnerable were companies based in Vietnam.

• Funding Uses: Singapore's Protos Labs, capitalizing on an injection of S$3M (US$2.2M) from their latest seed funding, is aiming to alleviate this problem. Their sights are set on penetrating the Vietnamese market with their tailored cyber insurance policies.

• Who's Got Their Back: VinaCapital Ventures, a major investor in the most recent funding round, is primed to facilitate Protos Labs' expansion into Vietnam.

• Company Background: Since its inception in 2021, Protos Labs has offered cybersecurity solutions underpinned by a data-driven and threat-based approach. Their software, Nexus, scrutinizes real-world cyber threats on a daily basis, matching them against an organization's internal resilience.

• What Do They Do: This software enables clients to evaluate potential damages and make more informed decisions regarding their cybersecurity.

Protos Labs claims its ability to customize policies results in region-specific products, offering a superior alternative to generic, over-the-counter solutions. Furthermore, Nexus grants enterprises the ability to continuously assess their defense level and quantify their security investment return.