Bengaluru-based biometric and surveillance solutions provider SecurAX has raised an undisclosed funding round. The investment was led by Axilor, Parampara Early Stage Opportunities Fund, and a group of angel investors.
Axilor, whose programmes include an accelerator, scale-up and early-stage funding, counts Senapathy “Kris“ Gopalakrishnan and SD Shibulal of Infosys among its founders.
“Cloud-based technologies are driving new business models. SecurAX is well-positioned to build on its leadership in the biometrics space and scale its SaaS offering, globally,” said Srinath Batni, co-founder of Axilor Ventures.
SecurAX was founded in 2012 by Prasanna Kotha, Deepak N Belavadi, and Praveen Gongireddy. It is a B2B SaaS-based biometric attendance and biometric access solutions provider. The startup aims to eliminate fixed costs and reduce operational overheads with a pay-as-you-go pricing model, and its cloud-based solutions.
As claimed in an official statement, the SecurAX platform is being used by 75,000 users across 125 customers. “We have grown our SaaS user base 2.5 times in the last six months. The investment from Axilor Ventures and Parampara will help us scale operations,“ said SecurAX’s co-founder Deepak.
SecurAX is currently operational in four cities of India. The startup will use the funds to enhance technology offerings, expand customer base and scale up its operations across India and the Middle East.
[The development was reported by ETtech.]