Cybersecurity Startup SafeHouse Tech Bags $6 Mn Funding From Gonpo Tsering, HNIs

Cybersecurity startup SafeHouse Tech has raised $6 Mn in Pre-Series A funding round led by Gonpo Tsering along with ultra high-net individuals (HNIs).

SafeHouse plans to utilise the fresh capital to support its growth initiatives in India and fuel business expansion plans in Europe and Southeast Asia. The funds will also be utilised for research and development activities and developing product offerings.

Including the current fundraising, SafeHouse has raised a total of $9 Mn to date. 

Founded in 2016 by Aditya Narang, Liad Herman and Miri Yudovich, the New Delhi and Israel-based startup’s cloud platform secures consumers’ smart devices from online malwares and threats.

The startup said its flagship app named BodyGuard which was launched in 2019, encrypts and secures phones from cyber attacks. Further, the app has offered services to more than 2.5 Mn users in India.

“This successful round of funding reinstates our belief in the execution of the SafeHouse family, and continued customer satisfaction of the digital safety we provide online. I am excited that due to our pioneering collaboration with the insurance industry, it will allow us to provide an unseen level of service for Indian netizens,” said Aditya Narang, cofounder and CBO of SafeHouse Tech. 

The startup has a presence in 5000 outlets across 700 cities in India. Its cap table includes Barclays Ventures, Techstars Ventures, Kube VC, Gopal Das, Dr. Purnendu Chatterjee, and Gaurav Saxena, among others. 

In India, Silence Laboratories, BluSapphire Cyber Systems, Securden and CloudSEK are some startups operating in the cybersecurity space. 

According to the Fortune Business Insights report, the global cybersecurity industry is anticipated to become a $376.32 Bn space by 2029, growing at a CAGR of 13.4% during the forecasted period 2022-29.

On the other hand, as per a Research and Markets report, the Indian cybersecurity market was pegged at $2200 Mn in the fiscal year 2021 and is likely to grow to $3543 Mn by FY27. The industry is expected to grow at a CAGR of 8.05% between FY23 and FY27.

This year, several startups from the cybersecurity segment have received funding. Securden raising $10.5 Mn, BluSapphire bagging $9.2 Mn Series A funding and Silence Laboratories securing $1.7 Mn funding are a few examples.