Data Republic announced today that it has secured US$16.2 million in series B funding to accelerate its expansion in Asia. Singtel Innov8, the venture arm of Singaporean telecommunications firm Singtel, led the funding round, and Singapore Airlines joined as a new investor. Previous supporters ANZ, Qualgro, Reinventure, and Ryder Innovation Fund also participated in the round.
The Senate platform, provided by Data Republic, facilitates inter-organizational data sharing, enabling businesses to securely exchange sensitive data online. To achieve this, the platform offers “comprehensive legal, governance, and licensing workflows” that facilitate data sharing between companies.
Data Republic, a startup based in Sydney, has announced that it has secured fresh funds for its international expansion efforts. Although the company has not provided any specific details on how the funds will be allocated, it has been actively focusing on expanding its operations beyond Australia. In June of last year, it opened an office in Singapore to cater to the growing demand from major regional players. The company also has a presence in Los Angeles in the United States.
The CEO of Data Republic, Paul McCarney, has acknowledged that the investment from major Singaporean businesses like Singtel and Singapore Airlines reflects the increasing importance of privacy and secure data sharing across markets. Singapore Airlines’ investment is particularly noteworthy, given the carrier’s strong focus on digital innovation. For instance, the airline introduced KrisPay earlier this year, a blockchain-based mobile wallet that is linked to its customer loyalty program. It also partnered with Grab on a joint rewards scheme and released an API suite for developers in October. Additionally, the airline is set to launch KrisLab, a startup incubator, next month.
The airline industry has prioritized cybersecurity, and Cathay Pacific, Singapore Airlines’ regional competitor, recently confessed to a significant privacy breach earlier this year. The incident compromised the personal information of 9.4 million customers, including their travel histories and passport numbers.
Given the abundance of sensitive data in their possession and the expanding network of third-party partnerships, carriers such as Singapore Airlines understand the importance of safeguarding privacy and security. Qantas, Australia’s flag carrier, is another airline that has invested in Data Republic, a startup that the airline joined in one of its previous fundraising rounds.
