Lucidity secures $5.3M in a seed funding round led by AlphaWave Investments
Lucidity plans to use the fresh capital to continue its expansion and accelerate efforts toward international expansion.
, a cloud storage orchestration platform, announced today that it has raised $5.3 million in a seed funding round led by AlphaWave Investments.
The funding round also saw participation from , , BoldCapital, and . Previously, Lucidity had closed a pre-seed round of $0.5 million led by Beenext and along with the founders of , Hevodata, , Cloud9, and others.
Lucidity plans to use the fresh capital to continue its expansion and accelerate efforts toward international expansion.
Nitin Bhadauria, co-founder of Lucidity, said: “Post the pandemic, businesses flocked aggressively to the cloud to ensure business continuity. However, the vast majority resorted to a ‘lift & shift of data’ approach for a quick migration. Whilst this provided a quick fix, they remain elusive of the ROI promised by cloud vendors. Lucidity is unlocking the ROI of cloud storage at a click of a button.”
Lucidity, an AI-enabled software for cloud storage (AWS, Azure, GCP), makes multi-cloud storage economical, performant and effortless. Its innovative ‘cloud first architecture’ makes data management on cloud a lot smarter and intelligent and delivers a true “NoOps” experience, according to a statement.
Andrew C. Martinez, Alpha Wave Global, stated,” Lucidity makes cloud storage management, not only more streamlined and reliable, but also increases cloud storage performance while saving a significant amount of money. What was more impressive for us is that this wasn't just a theoretical concept, but rather something on full display as proof of concepts with customers who are now onboarding on the Lucidity platform”
Edited by Affirunisa Kankudti