[Funding alert] Cybersecurity solutions provider Kratikal raises $1M in pre-Series A round
End-to-end product-based cybersecurity solutions provider Kratikal announced that it had recently raised $1 million in pre-series A funding. The round was led by Gilda VC, Art Venture, and Rajeev Chitrabhanu. Madhusudan Gopinath, Shangrila Infotech LLP, Equentia Natural Resources, Artha Ventures, and LetsVenture also participated in the round.
Noida-based Kratikal will use the freshly raised funds to streamline product development and deployment and to drive feet-on-the-street marketing and field merchandising initiatives.
Pavan Kushwaha, Founder and CEO of Kratikal, said in a press release:
“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.
The latest capital infusion will also help Kratikal augment its business expansion strategy and scale up its workforce, improve its tech infrastructure, and enhance R&D of cybersecurity products, while also unlocking access to stronger business support and network.
The association with Dubai-based Gilda VC will help the company capitalise on emerging business opportunities in the Middle East market, while Art Venture will assist its expansion in the BFSI sector. Financial expert Rajeev Chitrabhanu will also guide the company as it seeks to achieve positive ROIs.
“This capital funding will help us 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,” added Pavan.
Founded in 2013 by NIT Allahabad alumni Pavan, Paratosh Bansal (CTO), and Dip Jung Thapa (COO), Kratikal was incubated under the Ministry of Telecom, recognised under Startup India, and also counted as one of the top six companies in the Nasscom Product Conclave showcase 2018.
Since its inception, Kratikal has launched various innovative security solutions to tackle the growing threats and risks in cyberspace. These include ThreatCop, an artificial intelligence and machine learning-based simulation product designed for employee risk assessment and cyber awareness. Its other product, KDMARC, is an email authentication and anti-spoofing tool that aims to address the cyber threats posed by email-based attacks.
Currently, Kratikal serves more than 100-plus clients including Kotak Mahindra Bank, Aditya Birla Capital, Himalaya Wellness, PVR Cinemas, Fortis Healthcare, Cars24, Pine Labs, and Drivezy, among others.
With offices in Noida, Mumbai, and Bengaluru, the company is now looking to expand its footprint to three more cities – Hyderabad, Chennai, and Pune – within the next two months.
(Edited by Athirupa Geetha Manichandar)