MAS launches US$22 million cybersecurity fund -[press release]

Singapore’s central bank, Monetary Authority of Singapore (MAS), has announced the launch of a S$30 million (US$22 million) cybersecurity grant.

The grant will be funded under the Financial Sector Technology and Innovation Scheme (FSTI), and will support the development of advanced cybersecurity functions in Singapore-based financial institutions.

It will co-fund up to 50 per cent, capped at S$3 million (US$2.2 million), for financial companies looking to establish cybersecurity operations in Singapore; as well as financial institutions with global or regional cybersecurity functions and operations in Singapore to upgrade capabilities locally.

The grant will also encourage Singapore-based financial institutions to upskill their local workforce through cybersecurity-related training programmes.

Appliance repair startup Teko.ph gets acquired – [Manilla bulletin]

Philippines-based Teko.ph, a B2C platform that offers appliance repair services using self-employed and qualified technicians, has been acquired by Cortex Technologies Corporation, according to a report by the Manilla Bulletin.

Cortex is a wholly-owned subsidiary of Concepcion Industrial Corporation (CIC). The firm provides aftersales services for consumer household products such as installation and maintenance of refrigerators and air-conditioners.

“There’s an obvious synergy between Teko and the aftersales services offered by many of CIC’s consumer brands, such as Carrier, Condura, Midea and Toshiba as our consumers demand convenient aftersales service using mobile and web technology,” said aid Cortex President & CEO Sean Byrne.

MoEngage raises US$9 million Series B – [press release]

Marketing cloud platform MoEngage has raised US$9 million in a Series B round led by Matrix Partners India and VenturEast. Existing investors Helion Venture Partners and Exfinity Ventures have also participated in the round.

MoEngage will use the fresh capital to expand their global presence, further strengthen their data science capabilities and aggressively rollout its integrated marketing technology stack for enterprise clients with user engagement, analytics, and personalization products.

Also Read: Hong Kong’s Alphaslot grabs multimillion funding from Sora Venture, Spartan Group, more

Founded in 2014, MoEngage helps companies distribute marketing campaigns to customers across channels like push, email, in-app messaging, web push, and SMS, with auto-optimization towards higher conversions powered by machine learning.

“At MoEngage, we’ve built an enterprise solution for brands to deliver personalized engagement at any touchpoint, powered by machine learning and it is great to see the validation from all quarters including customers, analysts, and investors,” said Raviteja Dodda, Founder & CEO, MoEngage.

TRIVE Ventures launches blockchain accelerator – [e27]

Singapore-based VC TRIVE Ventures has announced today the official launch of its blockchain accelerator, Tribe Accelerator.

The accelerator features a six-month programme and will target later-stage startups. It will focus on helping these blockchain startups accelerate product development and increase adoption of blockchain solutions in the mass market.

Tribe Accelerator, which is backed by Singapore government agency Enterprise Singapore, will also connect the startups to various government agencies and traditional companies.

Everise acquires US-based Trusource Labs – [e27]

Everise, a Singapore-based customer management services company, has signed a binding agreement to acquire US-based Trusource Labs, which specialises in technical support for Internet of Things (IoT) and help desk experiences for Apple users.

Transaction details were not disclosed.

With this deal, Everise aims to elevate and provide resources across multiple platforms in order to provide better customer services.

Its goal is to combine the latest in technology, innovation and people to exceed the level of service needed in today’s customer-centric environment and meet the customer service challenges brought by IoT innovations.

The acquisition is expected to close before the end of this calendar year.