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CloudSEK, which is a Singapore and Bangalore based Artificial Intelligence driven digital risk management startup has now secured Rs 14 crore in the funding round of Series A which is led by the Exfinity Venture Partners and StartupXseed.
The new funds raised will be going to be used for the development of the existing products and to further expand footprints across Southeast Asia and India.
CloudSEK was founded in the year 2016 by the Rahul Sasi. The cybersecurity startup provides with a proprietary Artificial Intelligence-based machine learning platform that offers the timely, actionable and specific intelligence to the organizations and allows them to prevent and intervene the costly breaches and losses.
Talking about the investment, Ravi Thakur, Partner, StartupXseed Ventures, said, “Technology is redefining the way risk management is being practised, and CloudSEK has forayed into that space with applications in cybersecurity. Looking at their product, clientele, and growth rate, they have struck the right chord to crack the business. Moreover, what fascinated us is their way of solving the problem, which is very effective and scalable at large along with strong team background and execution capabilities.”
The startup product XVigil is a SaaS-based platform which uses the machine learning to help its client combat threats like the identity thefts, data leaks, and cyber threats.
In the year 2015, the startup also raised seed funds from the ME Meeran Foundation, the investment arm of the Kochi based Eastern group.
Some of the other cybersecurity startups which are competing with the CloudSEK in the Indian markets include the Kratikal Tech, Security Brigade, Lucideus Technologies, Sequretek, and Instasafe.
