Singapore-based, AI-powered dark web intelligence startup StealthMole has bagged $7 million in a Series A funding round led by Korea Investment Partners (KIP), to strengthen its global expansion efforts and develop its technology use cases for various sectors.
StealthMole said in a statement that the round was joined by Korea-based KB Investment, Smilegate Investment, and Hibiscus Fund—a multinational joint venture between Malaysia’s RHL Ventures and Penjana Kapital.
StealthMole is a company specialising in digital investigation, risk assessment, and threat monitoring on the dark web. Its data tracking capabilities enable early interventions or swift responses towards malicious activities playing an instrumental role in aiding government agencies and law enforcement.
It is currently further developing its technologies to also cater to corporate needs. Founded in 2022, the company is helmed by Louis Hur, an enterprise IT security specialist who previously founded a South Korean cybersecurity firm; and Simon Choi, a threat investigator and former adjunct professor with extensive experience with South Korea’s national police and intelligence services.
StealthMole has an R&D office in South Korea.
Elevate Foods bags $525,000 from Wavemaker Impact
Elevate Foods, a Singapore-based company helping small and medium-sized “farm-gate” processors in India, has secured $525,000 in early funding from Wavemaker Impact.
The company plans to use this capital to build a network for processed agricultural products, and also to put together a team with expertise in sustainable food systems and advanced quality management tools. It has plans to expand in the Gulf region and Southeast Asia.
Farm-gate processors are producers who sell their products directly from their farm or production facility to the consumer or end-user without going through intermediaries or retailers.
Elevate Foods combats food loss and waste by empowering small-scale farm-gate food processors across India by providing access to global markets
Owned by GBN Food Solutions in Singapore, Elevate Foods supports farm-gate processors in India by helping them sell their products worldwide and meet high-quality standards, making food production more traceable and sustainable.
The company’s founder and chief executive officer is Gayatri Bhatia. The company was founded in 2024.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has put together a table listing prominent venture capital transactions in Southeast Asia for the week starting March 25, 2024.
| Startup | Headquarters | Investment size | Investment stage | Lead investors | Other investors | Industry/Vertical | |
|---|---|---|---|---|---|---|---|
| Soft Space | Malaysia | Undisclosed | Pre-Series C | GMO Financial Gate | Fintech | ||
| DALI Discount | The Philippines | $25,000,000 | Venturi Partners | Retail | |||
| KAMEREO | Vietnam | $2,000,000 | Pre-Series B | Reazon Holdings, Thoru Yamamoto | Quest Ventures | B2B food platform | |
| Applecrumby | Malaysia | $4,200,000 | Growth stage | 500 Global | E-commerce | ||
| StealthMole | Singapore | $7,000,000 | Series A | Korea Investment Partners | Smilegate Investment, Hibiscus Fund | Cybersecurity | |
| Elevate Foods | Singapore | $525,000 | pre-seed | Wavemaker Impact | Agritech |