Noida-based cybersecurity solution provider, Kratikal Tech Private Ltd raised $1 million pre-series A funding. Art Venture, Rajeev Chitrabhanu and Gilda VC were leaders of the funding round of the startup. Other investors in the deal were Madhusudan Gopinath, Equentia Natural Resources, LetsVenture, Artha Ventures and Shangrila Infotech LLP.
Kratikal will be utilising the fund to check product deployment and development. Further, the company is willing to invest money into field merchandising initiatives and feet-on-the-street marketing.
“Our latest funding round is an important milestone for us, as it underlines the strength of our product innovation capabilities, robust unit economics, and deep cybersecurity expertise. It also brings the right mix of domain expertise and business networking opportunities to the table. This capital funding will help us to unlock the next phase of our business growth by optimising operations and rapidly scaling up our market footprint, both in India and across other high-growth international markets,” Pavan Kushwaha, CEO, Kratikal said in the company’s official statement.
The Noida-headquartered cybersecurity solutions provider will also be channelling the recent capital infusion for business expansion as well as manpower upgradation. Also the garnered capital will be utilised for improving its tech infra, expanding its research and development (R&D) of cybersecurity products and meanwhile, increasing access to fortified business network and network.
“With its co-founder team, marquee client list, and market-leading products, Kratikal is well-positioned to take advantage of the growing push towards stronger cybersecurity. As one of the few cybersecurity companies to have achieved even cashflows in a short span since its operational launch, I believe that it is bound to achieve exponential success. We need more players like Kratikal to keep businesses and systems secure from advanced cyber threats across the globe,” Mr. Rajeev Chitrabhanu, Founder of Magnetic, said in the company’s official statement.
Pavan Kushwaha (CEO), Paratosh Bansal (CTO) and Dip Jung Thapa (COO) established Kartikal in 2013 since then, the startup has released several innovative security solutions to curb rising cyberthreats such as ThreatCop and KDMARC amongst others. The startup is serving over100 customers comprising Aditya Birla Capital, PVR Cinemas, Himalaya Wellness, Kotak Mahindra Bank, Fortis Healthcare, Drivezy,Pine Labs and Cars24, among others.
The company has its establishments in three Indian cities-- Noida, Bangalore and Mumbai. Presently, it is planning to spread its wings to three more cities comprising information technology hubs like Hyderabad, Chennai and Pune.