May 10, 2017

Google's Anandan, Adobe's Bawa invest in Lucideus

BYPankaj Mishra

Delhi-based IT risk assessments and cybersecurity platforms provider Lucideus has raised an undisclosed amount in an angel round of investment from Google India managing director Rajan Anandan, Adobe managing director Kulmeet Bawa and other industry stalwarts.
Lucideus, which provides cybersecurity to the BHIM (Bharat Interface for Money) app, will use the funds to enhance research and development on cybersecurity.
“As a company, we have been growing 700% (average year-on-year) in revenues while being cash flow positive for the last four years,” said Saket Modi, CEO and cofounder, Lucideus, in a statement on Wednesday.
“We have got a set of marquee names of handpicked investors who have not only invested their money but also bring in their strategic and technical guidance that is playing a key role in our evolution,” he added.
The list of investors also include Rahul Chawla, managing director, head of global markets at Deutsche Bank, Jonathan Boutelle, ex-director of technology at LinkedIn/SlideShare, former Freecharge CEO Govind Rajan, Digi Locker chief architect and Slideshare cofounder Amit Ranjan.
“Considering all the ground work done by Lucideus for the last five years, I feel they are well positioned to grab the market opportunity and emerge as clear market leaders,” said Anandan.

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Pankaj Mishra is a writer of FactorDaily.