Cisco Chairman Invests in Cybersecurity Startup Lucideus

Lucidus, which is a cybersecurity startup has now secured $5 Million in a funding round which was led by the Cisco chairman Emeritus Chambers.

The company as of now has a plans to use the funds to increase its presence across the USS, and in the Indian market as well. The company also wants to increase its platform to provide more robust security to its enterprise clients which are across the domains of retail, banking and financial services and some others.

Lucideus was founded and led by the Vidit Baxi, Saket Modi, and Rahul Tyagi in the year 2012. It is an IIT Delhi Incubated startup which offers its customers with the training, consultancy, and solutions with respect to the cyber attacks.

The company as of now has claims to have witnessed around triple-digit revenue growth on a  yearly basis and has been cash flow in a positive domain from the last few years.

The company claims to have around 150 clients across the 16 cities. Some of its prominent clients include the ICICI Bank, Softbank, NPCI, SpiceJet, IBM, HDFC Bank, and Indigo.

Last year in October, the company has also raised $635000 in a venture funding round from some of the undisclosed backers.

Talking about the investment, John Chambers, said, “All these things were there…I have picked up over 10 percent share but don’t want to comment on the value…I am not a venture capitalist, but I am more of a strategic advisor, I am a mentor and coach, I invest in early-stage companies.”

Some of the other players in the cyber attack market include the AppSecure, HaltDos, Karatikal Tech, and AppsPicket.

According to the report, which has been revealed the global cyber security market will going to be worth around $202.36 billion by the end of 2022, which is up from the $135 Billion this year.