Mumbai-based mobile security startup Wegilant Net Solutions, that helps developers find security faults in their Android applications raised $500K in a pre-series A round of funding; and had raised $160K last December.
Existing investors Ravi Gururaj, Nasscom product council chairman Gaurav Sharma, Yahoo! Inc. director Viswanath Ramachandran, Society for Innovation and Entrepreneurship at IIT Bombay Business Incubator, investment bank RippleWave, and an unnamed global IT security company participated in this round of funding.
The funds will be used towards technology expansion, research and development and customer acquisition. The App is currently live only on Android, the company is looking forward to launch the same on iOS and Windows Phone operating systems.
Wegilant, is a startup of IIT Bombay Alumnus Toshendra Sharma founded in 2011. The startup offers a cloud-based Android Security Solutions Tool. Its main product Appvigil, is a cloud-based Android mobile security scanner that helps android developers scan their App for the security vulnerabilities and security loopholes in their Apps. The product can also be integrated into any part of the App development process without exposing the underlying source code.
In other words, it helps identify whether a mobile App is hackable or not. As for Mobile phone users, Appvigil App can be used to check hackability of the mobile Apps in their phones and report to the developer in case any loopholes exist. “An updated version of the App, with new features that alert users when their data is being sent to tracking servers, or their passwords are being sent across a network without being secured, will be rolled out within a month,” said Sharma.
On this development, Ravi Gururaj, Chairman NASSCOM Product Council said, “Water tight security of your mobile device is no longer a luxury, it is an absolute necessity. News of security beaches are regular events, which I expect will increase in frequency and severity. Every major brand has a customer facing mobile experience which they now need to ensure is secure for all their stakeholders. Wegilant addresses this critical growing market need with very innovative and robust products. The Wegilant team exhibits winning combination of domain thought leadership and entrepreneurial passion.”
According to Toshendra, they are covering more than 80 vulnerabilities which are the most critical and cover 70-75% of the problems in the mobile applications. “We are following the Open Web Application Security Project standards” he added.
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