Singapore Based Startup, GuardTime Raises $8 million in Series A

by Sneha Menon

GuardTimeLooks like this is a great time-period for acquisitions, second-round funding and of course Asian-wide conferences. Singapore-based data integrity verfication startup Guardtime has announced, that it has raised $8 million in series A funding to help roll out its global infrastructure for delivering its service.

GuardTime was founded in Estonia by cryptography experts Dr Märt Saarepera and Dr Ahto Buldas. It has attracted investors including: Horizons Ventures, a Hong Kong based investment fund focusing on early stage technology companies, Ambient Sound Investments, an investment fund formed by the founding engineers of Skype, Infocomm Investments Pte Ltd (IIPL), a wholly owned subsidiary of the Infocomm Development Authority of Singapore (IDA) that complements IDA’s industry development efforts in Singapore with equity investments, FITOne Capital, a subsidiary of FIT-One Holdings, an IT startup business incubator in Japan and Joi Ito, CEO of Creative Commons, entrepreneur, and venture capitalist.

Guardtime is data integrity service provider with a world-wide, scalable and attack resilient service architecture with easy-to use and open source application integration components. Its technology helps users check whether data, such as e-mail, has been tampered with, using their core technology of timestamping system that is mathematically secure against backdating.

In an interview with Bloomberg, Mike Gault, Guardtime’s CEO mentioned, “The company decided to tap investors in Asia because of the difficulties start-ups have sourcing early stage funding in the U.S. For any start-up, funding is like oxygen, it allows you to live for a little longer, This money gives us a comfortable five years’ breathing space and will allow us to roll out globally.”

This is a great news for GuardTime and you can meet Mike personally at echelon 2010.

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  • http://startupmeme.com Sardar Mohkim Khan

    It is really heartening to see the startup scene in Singapore kicking in – i hope others in the neighboring region see how profitable and innovative the Web can be and spend more time, energy, efforts on this.

  • http://startupmeme.com Sardar Mohkim Khan

    It is really heartening to see the startup scene in Singapore kicking in – i hope others in the neighboring region see how profitable and innovative the Web can be and spend more time, energy, efforts on this.

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