Noida-based cybersecurity solutions provider Kratikal, on Wednesday, announced that it has raised $1 Mn in Pre-Series A funding led by Gilda VC, Art Venture, and Magnetic’s founder Rajeev Chitrabhanu. Additionally, Shangrila Infotech LLP, Equentia Natural Resources, Artha Ventures, LetsVenture, and angel investor Madhusudan Gopinath also participated in the round.
With the recently raised funds, Kratikal plans to streamline product development and deployment, and marketing of its cyber security-based solutions. The latest capital infusion will also help Kratikal to augment its business expansion strategy, scale up its workforce, improve its tech infrastructure, and enhance research and development of cybersecurity products. Additionally, the company is also planning to increase operational footprint across India and international markets like the US and Europe.
Further, the recent association with Gilda VC, a Dubai-based venture capital firm, will help Kratikal to capitalise on emerging business opportunities in the Middle East market. Moreover, Art Venture will assist in the startup’s expansion in the BFSI sector.
Notably, the company has its offices in Noida, Mumbai, and Bangalore and is planning to expand its footprint to three more cities – Hyderabad, Chennai, and Pune – within the next two months.
Related Article: Funding Galore: Indian Startup Funding Of The Week [Dec 2-7]
Kratikal will also receive financial guidance from Chitrabhanu which will guide the company to achieve a positive return on investment (ROIs).
On the recent funding, Pavan Kushwaha, CEO of Kratikal said that this capital infusion will help the startup to unlock the next phase of its business growth by optimising operations and rapidly scaling up its market footprint, both in India and across other high-growth international markets.
Prior to this funding, Kratikal, in January 2017, raised undisclosed seed funding from angel investors.
How Kratikal Is Securing Cyberspace
Founded in 2013 by NIT Allahabad alumni — Pavan Kushwaha, Paratosh Bansal, Dip Jung Thapa — Kratikal has come up with various security solutions to tackle the rising threats in cyberspace.
One of its cyberspace threat tackling solutions, ThreatCop, leverages newage technologies such as artificial intelligence (AI) and machine learning (ML) for employee risk assessment and cyber awareness. Kratikal also offers an email authentication and anti-spoofing tool, KDMARC, that aims to address cyber threats posed by email-based attacks.
Kratikal claims to cater to over 100 clients including the likes of Kotak Mahindra Bank, Aditya Birla Capital, Himalaya Wellness, PVR Cinemas, Fortis Healthcare, Cars24, Pine Labs, and Drivezy, among others.
The early-stage cybersecurity startup, Kratikal, was also incubated by the Ministry of Telecom and is recognised under the government’s Startup India initiative. Moreover, it was also counted as one of the top six companies in the Nasscom Product Conclave showcase 2018.