Debroop Roy

The company said it plans to use the fresh funds to accelerate development of its cyber range product as well as to build its global sales and marketing teams.

The series B+ round was led by Vertex Growth Fund and Kuok Group's Orion Fund managed by K3 Venture Partners.

The collaboration will allow consumers and merchants to pre-order items across 900,000 stores and global brands.

In 2018, China, Japan and South Korea spent a combined $613 billion on R&D, bagging three of the top five spots globally. The private sector played the biggest role, accounting for about 78 per cent of the overall numbers.