Lucidity Bags $21 Mn To Power Cloud Storage Solutions

SUMMARY

The New York and Bengaluru-based startup plans to use the fresh capital to expand its go-to-market team and bolster solutions for storage management problems for the enterprises

Founded in 2021 by Vatsal Rastogi and Nitin Bhadauria, Lucidity offers AI-enabled software for cloud storage which allows its clients to directly manage their cloud infrastructure in an economical and efficient manner

It allows its customers to automate cloud storage provisioning and reduces human intervention in the entire work-cycle

Cloud storage management startup Lucidity has secured $21 Mn (around INR 182 Cr) in a Series A funding round led by WestBridge Capital, along with participation from existing investor Alpha Wave.

The NewYork and Bengaluru-based startup plans to use the fresh capital to expand its go-to-market team and bolster solutions for storage management problems for the enterprises.

It allows its customers to automate cloud storage provisioning and reduces human intervention in the entire work-cycle.

“Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimize their block storage in real- time across all three major cloud providers while significantly reducing costs. As a result, we’re honored by the ongoing interest we’ve received and the opportunity to work with some of the largest enterprises in the world to empower them to seamlessly manage their cloud storage for the first time,” said Bhadauria.

Since its inception, Lucidity claims to have achieved 400% year-over-year growth, driven by industry-first innovations that automate and optimize cloud block storage utilisation.

The startup says that its NoOps (no operations), autonomous and application-agnostic layer seamlessly integrates with existing applications and environments without requiring a single line of code to be changed.

Compatible with AWS, Azure, and Google Cloud, Lucidity’s platform automates storage optimization, helping IT and DevOps teams of enterprises to slash costs, prevent downtime, and streamline operations, the statement added.

In 2022, Lucidity raised $5.3 Mn in a seed funding round led by AlphaWave Investments

The company has raised a total of $31 Mn in funding to date and counts the likes of BEENEXT, Blume Ventures and Boldcap among its investors.

As per Inc42, homegrown startups cumulatively netted more than $12 Bn in fresh funds in 2024, up over 20% from the $10 Bn raised in 2023.