Silence Laboratories, a Web3-centered cybersecurity startup based in Singapore, has raised US$1.7 million in a seed round led by Pi Ventures and joined by other backers such as ImToken Ventures.

Silence Laboratories allows its clients to adopt multiparty computation (MPC) and multifactor authentication (MFA), helping them run safer operations while handling high-risk assets. Its flagship products are Silent Auth for MFA and Silent Shard for key and account access management.

Singapore crypto-centered cybersecurity firm

The company has teamed up with a leading crypto wallet as well as crypto exchanges and custodial asset management firms to work on a pilot project.

Silence Laboratories said it has developed Silent Shard with its business partners and is on the path to support varied applications, including crypto-asset custody with high risks, non-custodial wallets, phone-based wallets, crypto exchanges, governmental, and medical data access and management.

The startup’s latest raise comes as authentication and authorization see an increase in attacks and targeted malware. As such, the company plans to set up an applied cryptography corporate R&D center in Asia. It’s also looking to hire for technical, business development, and cryptography positions across Europe and the Asia Pacific.

Silence Laboratories was founded in 2019 by Tony Quek, Andrei Bytes, and Jay Prakash and has been incubating at the Singapore University of Technology and Design since. The company has 14 employees in engineering and business roles across APAC, Europe, and the US.

The company’s also supported by the Arise program throughout Silence Laboratories’ commercialization and funding.

Angel investors who participated in the round include:

• Daniel Ari Friedman
  Mahin Gupta
  CK Vishwakarma
  Ashish Tiwari

Source: Tech In Asia