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SaaS Based Startup SecurAX Raises Funding From Axilor, Others

SaaS Based Startup SecurAX Raises Funding From Axilor, Others

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.

Other similar startups in this space are Corseco Technologies, Securens Systems, etc.

[The development was reported by ETtech.]

Author

Meha Agarwal

Inc42 Staff

Meha has engineering and MBA degrees, but she has always been a writer at heart. It was the perfect combination of utilising her research and analytical skills and her enthusiasm for writing that sparked her interest in writing about the Indian startup ecosystem – the latest tech and gadgets and the startups that create them. She is always on the lookout for industry-specific stories in niche areas of interest such as ecommerce, fintech, greentech and more.

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