India: Cybersecurity startup Kratikal Tech raises $500K in seed funding

Cybersecurity start-up Kratikal Tech Pvt. Ltd. on Monday said it has raised seed funding from former director of Microsoft India Praveen Dubey, along with Amajit Gupta, former managing director Juniper Networks India and J.P. Bhatt, chief executive of ImpactQA.

Kratikal has raised close to $500,000, said a company executive, who did not want to be identified. The company will use the funds for product development and building training modules.

The company was founded in 2013 by five alumni of National Institute of Technology, Allahabad—Pavan Kushwaha, Paratosh Bansal, Dip Jung Thapa, Prashant Pandey and Ankit Singh—after Kushwaha’s email account was hacked.

Kratikal provides cyber security services such as vulnerability assessment, security auditing, among others.

“We aim to provide world class cybersecurity solutions globally and work on building the environment and train the IT (information technology) professionals and digital community in India about how to build secure systems,” Kratikal said in a statement.

Kratikal claims to provide training sessions to corporates, law enforcement agencies and education institutes. It claims to have trained over 5,000 candidates from over 131 countries through its online modules.

With a team of 15 employees, Kratikal services over 20 clients across corporate houses, police departments, law enforcement agencies and individuals in India, US, Australia, New Zealand and South Africa.

The Delhi-based company is also developing a software-as-a-service (Saas) tool to automate its security testing services with the help of built-in artificial technology. “This automated tool will bring down the high c

ost of security testing and make it economically feasible for all the SMEs (small and medium enterprises) to be secure,” said the company.

The company competes with Chandigarh-based TAC InfoSec Pvt. Ltd and Delhi-based Lucideus Tech Pvt. Ltd. In 2016, TAC raised an undisclosed amount of pre-series A funding in August, while Lucideus had received an undisclosed angel funding from Amit Choudhary, director of Motilal Oswal Private Equity Advisors Pvt. Ltd.

A report published by MarketsandMarkets in July 2016 forecasts the global cybersecurity market to grow from $122.45 billion in 2016 to $202.36 billion by 2021, growing at a compound annual growth rate of 10.6%.

Also read:

Venture arms of Microsoft, Qualcomm back Israel’s Team8 cybersecurity firm

India: E-security startup Securens gets funding from Mayfield, Trifecta

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.