Responsible Cyber Announces Identity Acquisition and New Shareholders
Singaporean startup Responsible Cyber has announced the acquisition of fellow startup Secucial and new shareholders.
The Secucial acquisition adds a mobile digital identity wallet to its portfolio; a decentralized identity system that includes a mobile app with an identity wallet to provide secure authentication with biometrics and contextual multi-factor authentication to enable exchange of ID documents with a third party.
Responsible Cyber is part of the ICE71 Scale program, a landing pad that helps international and local cybersecurity startups seize opportunities and grow their businesses in Singapore and within Asia Pacific.
As a result of the acquisition, Responsible Cyber has also added NUS Enterprise, the entrepreneurial arm of the National University of Singapore, and Singtel Innov8, the venture capital arm of the Singtel Group, as new shareholders. NUS Enterprise and Singtel Innov8 are the co-founders of ICE71, the region’s first cybersecurity entrepreneur hub.
Secucial was part of the first cohort to graduate from ICE71 Accelerate, a three-month accelerator program designed to help early-stage cybersecurity startups achieve a product market fit in a unique technical and demanding industry.
“We welcome NUS Enterprise and Singtel Innov8 as our shareholders, especially during uncertain times like these,” said Magda Chelly, founder and managing director, Responsible Cyber.
“Our platform addresses the needs of business owners who do not have the right means and technical knowledge to implement cybersecurity measures for their businesses. By providing a user-friendly cybersecurity solution, we help small and medium businesses to continue operating remotely, reliably and securely, especially during this COVID-19 pandemic.”