An estimated three in five small businesses that suffer cybersecurity breaches end up going out of business. Many businesses lack the digital infrastructure or knowledge to protect themselves.
In Malaysia, ArmourZero has developed low-cost cybersecurity software for small businesses in Southeast Asia. The three-year-old company secured an undisclosed amount of financing from the Gobi Dana Impak fund, a partnership fund between Malaysia’s sovereign wealth fund, Khazanah Nasional, and VC firm Gobi Capital.
ArmourZero is “making cybersecurity accessible for business and digital applications, as well as small businesses – a vital segment that drives economic growth yet remains underserved in digital protection,” said Gobi’s Jamaludin Bujang.
Impact seed capital
Gobi is a Kuala Lumpur and Hong Kong-based venture capital fund with $1.6 billion in assets under management. It focuses on “empowering underserved entrepreneurs, promoting gender equality and circular economy initiatives, driving innovation in new markets and technologies, and nurturing entrepreneurial ecosystems.”
In 2023, it launched the Dana Impak Fund as part of Khazanah Nasional’s five-year, six billion Malaysian ringgit ($1.3 billion) initiative to foster inclusive growth through entrepreneurship support and investment.
Other investments through Gobi’s fund include BoomGrow, a high-tech indoor agriculture startup, and Care Concierge, a senior healthcare provider.
