Cyber Security Startup Lucideus Gets Backing From Flipkart CFO Sanjay Baweja

Lucideus, a startup working in the field of cyber security has raised an undisclosed amount of funding from Flipkart CFO, Sanjay Baweja.

Co-founded in 2012 by Saket Modi, Delhi-based Lucideus is a cybersecurity company that offers consultancy, training and solutions to counteract cyber attacks. Lucideus’ founder, Modi was also a part of the Forbes’ 30 under 30 list for India and Asia, under the Technology domain.

Talking about the development, CEO Saket Modi, said, “ The funding has importance from a strategic advisory point of view. As we are moving towards creating a new product, we are getting offers from VCs and other investors looking to be a part on Lucideus’ journey. More than the money, it’s the mentorship we will get from our new investor that make this crucial.”

Lucideus helps corporates guard against generic information security threats along with combating advanced persistent threats and customised zero day exploits, ensuring an organisation stays ahead of the security curve. The firm also serves as information security adviser to businesses, governments and institutions around the world. It’s clientele includes names like Standard Chartered, Indigo, DBS Bank, HDFC Bank, Reserve Bank of India, IBM, Microsoft among others.

Prior to this, the firm had raised an undisclosed amount of funding from Snapdeal’s former CPO Anand Chandrasekaran. Lucideus is also one of the 160 startups selected by the government of India and has worked with various ministries including the Ministry of Corporate Affairs and Ministry of Defence.

These days, the team is working on a product, which is currently in pilot mode and expected to launch soon. More details about the products are expected to be divulged by next quarter. At this juncture when they are trying to test new waters by launching a product, the expertise of the new investors and their mentorship will help the team in fundraising as it is planning to raise Series A, by the end of this year. Sanjay Baweja is also expected to help create the financial model for Lucideus’ new offering.