Mitigata Raises $5.9 Mn To Fund Cybersecurity, Insurance Solutions

Cyber insurance startup Mitigata has raised $5.9 Mn (around INR 51.6 Cr)  in its Series A funding round led by Nexus Venture Partners.

The round also saw participation from existing investors, including Titan Capital and WEH Ventures.

The Bengaluru-based startup plans to deploy the freshly raised funds in accelerating the development of its AI-based management and risk platform, enhance its cyber security solution suite and expand its footprint locally as well as internationally. 

It will also focus on talent acquisition across segments, including security, insurance and compliance.

Mitigata is also aiming to set up global security operations centres (SOCs) in Bengaluru, Mumbai and Delhi to scale its AI-based solutions, including threat detection, incident response, and managed security services across the country.

“At Mitigata, we’ve reimagined and Indianised the model — delivering integrated, high-impact cyber resilience that combines security and insurance into a single, cost-efficient solution tailored to the unique needs of Indian organisations,” said Mitigata cofounder and chief executive founder Mohit Anand.

Founded in 2021 by Anand, Sarthak Dubey, Mayank Morya and Akshit Kaushik, Mitigata leverages AI to offer cybersecurity and cyber insurance solutions to businesses as well as individuals. It offers a wide range of solutions,including SOC monitoring, VAPT (Vulnerability Assessment and Penetration Testing), CERT-In empanelled audits, incident response, digital forensics, and deployment of cybersecurity tools.

The startup claims to have more than 500 clients. It counts PointOne, Venture Catalysts, Anupam Mittal, Varun Alagh and Nitish Mittersain among its VCs and angel investors.

How Is India Navigating The Cyber Security Challenges

Amid a surge in India’s digital activities, individuals and businesses have also been exposed to an increased risk of digital fraud.

As per government data, Indians lost INR 1,935.51 Cr to digital arrest scams in 2024. Around 1.23 Lakh complaints related to such frauds were lodged on the National Cyber Crime Reporting Portal. Furthermore, 17,718 incidents of digital arrest scams were reported in the first two months of 2025 itself.

Last month, the Department of Telecommunications (DoT) proposed amendments to the cybersecurity framework to reduce fraud pertaining to the misuse of mobile numbers. Earlier this year, the government also rolled out two new initiatives — Digital Intelligence Platform (DIP) and ‘Chakshu’ facility to combat cybercrime and financial fraud.

While the Centre is putting efforts to curb the increasing cyber security risks, there are several startups offering cybersecurity solutions as well. These startups are also getting lots of traction from the investors.

For instance, enterprise cybersecurity startup Safe Security recently raised $70 Mn as a part of its Series C funding round led by Avataar Venture Partners. 

In May, AI-powered cyber threat prediction and intelligence startup CloudSEK secured $19 Mn across its Series A2 and B1 funding rounds.

The space is receiving attention from all the stakeholders. Telecom majors like Airtel are also participating in the cybersecurity wave. The company claimed that it managed to safeguard more than 3.5 Mn users in Delhi from cyber threats through this advanced system.