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Cyber Security Startup Sequretek Raises $2 Million

Cyber Security Startup Sequretek Raises $2 Million

Cyber security start-up Sequretek today said it has raised funding from GVFL and Unicorn India Ventures.

While the company did not disclose the size of the funding, sources said Sequretek has raised under USD 2 million in fresh funding in the series A.

The Mumbai-based company plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and outside, Sequretek said in a statement.

Launched in 2013 by Anand Naik, Sequretek offers a suite of products and services to enterprises for securing information.

Its clients include HDFC Bank, IDBI Federal, HDFC Limited and NCDEX as well as companies in sectors like retail, pharma and IT-ITeS.

The founders had pumped in about Rs 4.5 crore in 2013 and raised USD 300,000 in seed funding from family, friends and wealthy individuals in 2015.

“Information Security is of paramount concern to enterprises across the world. Unfortunately, the way security has evolved and resulted in silos each addressing a niche problem,” Sequretek Pankit Desai, co-founder and CEO Pankit Desai said.

Sequretek is trying to simplify security and drive down the overall cost of ownership, he added.

Sanjay Randhar, MD at GVFL and Manoj Laddha, Partner at Unicorn India Ventures will join the board of Sequretek, the statement said.

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