New Delhi:
Automotive cybersecurity startup SecureThings.ai on Wednesday stated that it has raised $3.5 million in a funding spherical led by tech-focused VC fund Inflexor Ventures.The funding spherical additionally noticed participation from 9Unicorns, RPG Ventures, SAB Holdings, and varied ultra-high networth people (UHNIs).
SecureThings.ai, based by Vishal Bajpai, stated it desires to make use of the contemporary capital in the direction of product enhancement, enterprise development in India and abroad markets.
The California-based startup gives specialised machine learning-based cybersecurity for vehicles. It has a big R&D centre in Pune, to cater to present prospects within the India & APJ market.
“This spherical of funding will assist strengthen our buyer base in India & Asia Pacific and Japan (APJ), which proceed to be strategic & important markets for us and in addition broaden the corporate’s footprint within the US market. We’re searching for strategic partnerships in different areas as properly. We sit up for working with our new buyers, who carry of their vital experience to assist the corporate scale up.” Bajpai stated.
Since November 2020, Inflexor from its Fund II, has invested in six corporations, together with Atomberg, GramCover, and Vitra.ai.
“What drew us to SecureThings was their deep experience in cybersecurity and its varied downside statements; every thing starting from telematics programs to cloud platforms to clever automation”, stated Venkat Vallabhaneni, managing accomplice, Inflexor Ventures.
“The multi-layer resolution they’re growing may have wide-ranging impacts within the automotive sector within the years to return. Coupled with the large-scale adoption of IoT that’s anticipated shortly and the regulatory push by authorities worldwide, we consider that SecureThings has an enormous potential, Vallabhaneni added.
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Half of the quantity shall be invested in localizing superior automotive applied sciences and the remaining on growing digital capabilities reminiscent of Mobility Cloud Platform.
