Cyber Security Startup Data Resolve Raises $1 Mn from IDFC-Parampara Capital JV

Noida-based cyber-security startup Data Resolve has raised $1 Mn from early-stage fund Parampara Capital.

This is Parampara Capital’s first investment, post its announcement of a tie-up with IDFC Alternatives, the private equity arm of IDFC Group.

Data Resolve was incubated in 2008. It is focussed on addressing issues related to corporate fraud, data leaks, and employee productivity with security analytics via end-points, from in-premise and on-cloud platforms.

Its award-winning product ‘inDefend Business’ performs security analytics for the same. The company provides integrated endpoint security from a single security-integrated platform hosted on AWS.

As per CEO Dhruv Khanna, the startup will use the newly raised funding to scale up sales and tech teams. The startup is also planning to expand across India and the Middle East.

The company claims to have over 100 clients, including startups, small and medium-sized businesses as well as MNCs.

Prior to this, Bengaluru-based biometric and surveillance solutions provider SecurAX raised an undisclosed funding round, in January 2017. The investment was led by Axilor, Parampara Early Stage Opportunities Fund and a group of angel investors.

In January 2017, Delhi-based Kratikal, an end-to-end cyber security solution provider, raised an undisclosed amount of Seed funding from Amajit Gupta (former director of Microsoft India) along with Praveen Dubey (co-founder Mutual PR) and J.P. Bhatt (co-founder and Chief Executive of ImpactQA). Other startups in this domain include Delhi-based Lucideus, TAC Security Solutions etc.

[This development was reported by ET.]