Gobi Partners, an Asian venture capital firm, has announced a strategic investment in ArmourZero Holdings Pte Ltd, a cloud-based cybersecurity platform offering AI-powered application security and security-as-a-service (SECaaS).

The duo said in a statement on Wednesday that this investment, made through the Gobi Dana Impak Ventures (GDIV) fund backed by Khazanah Nasional Berhad, aligns with Khazanah’s Dana Impak mandate.

The investment underscores Gobi’s commitment to fostering groundbreaking startups and advancing cybersecurity across Southeast Asia.

Founded in 2022, ArmourZero commenced operations in January 2023 and operates through wholly owned subsidiaries in Malaysia, Singapore, and Indonesia, with its core business activities centered in Malaysia.

The company was co-founded by cybersecurity expert Tho Kit Hoong and tech innovator Chong Wai Lun, focusing on addressing the cybersecurity needs of software developers and small and medium enterprises (SMEs)—a vital yet underserved segment of the digital economy.

ArmourZero’s platform tackles high cyber threat incidence, inadequate threat containment, prohibitive costs, and limited access to integrated security systems.

Its key solutions include ShieldOne (unified threat monitoring, management and response), managed detection and response (MDR), ScoutTwo (artificial intelligence [AI]-powered application security).

“Our goal is to redefine cybersecurity by making it simpler and more accessible for businesses of all sizes to defend against cyber threats,

“This investment accelerates our innovation and strengthens our commitment to provide powerful, AI-driven security solutions that simplify cybersecurity and eliminate complexity,” said Tho Kit Hoong, Chief Executive Officer and Co-founder of ArmourZero.

Meanwhile, ArmourZero is set to introduce more innovative, game-changing products to simplify cybersecurity for businesses while expanding its footprint across Southeast Asia.

This aligns with Gobi Partners’ mission to support startups that deliver tangible value and drive sustainable growth.

“ArmourZero is tackling a critical issue by making cybersecurity accessible for business and digital applications, as well as SMEs—a vital segment that drives economic growth yet remains underserved in digital protection,

“Their innovative platform and leadership team embody Gobi’s vision of supporting startups that deliver meaningful impact,” said Jamaludin Bujang, Managing Partner of Gobi Partners.

It is noted that Dana Impak is a key pillar of Khazanah’s Advancing Malaysia strategy anchored by ‘A Nation That Creates’ framework which aims to boost national productivity and competitiveness.

Dana Impak initiatives aim to empower Malaysian businesses of all sizes and across different life cycles, including startups, small to mid-tier as well as large companies, with the objective of improving the livelihood of communities.

According to the statement, Southeast Asia’s cybersecurity market is expected to grow from $35 billion in 2023 to $84 billion by 2028, driven by escalating cyber threats and digital transformation.

SMEs, comprising 99 percent of Malaysian businesses, face disproportionate vulnerability due to limited resources and awareness.

ArmourZero’s solutions bridge this gap, enabling SMEs to mitigate risks, reduce costs, and bolster their digital defenses.

Malaysia recorded over 28,000 cyberattacks in 2022, with cyber incidents between 2017 and 2021 resulting in MYR 2.23 billion ($490 million) in financial losses.

Research indicated that organizations resolving breaches within 200 days significantly reduce costs.

ArmourZero’s rapid breach detection and response capabilities help businesses contain threats, minimize losses, and reinforce their cybersecurity posture.

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