Lucideus Raises Angel Funding Looks at 200pc Growth in this FY

Lucideus, a snowballing IT Risk Assessment and Digital Security Services provider has recently announced that the company has received angel funding from Amit Choudhary, Director, Motilal Oswal Private Equity. The recent fund is sought to help the company to build its team and expand business operations both in India and abroad.

Headquartered at New Delhi, the company asserts to use the investment in fostering the team which it expects a head-count of 100 by the end of year.

Commenting on the funds received, Saket Modi, CEO & Co-Founder, Lucideus said, “We are happy that Mr. Choudhary decided to invest in us. We have been bootstrapped for 4 years now and have seen significant growth year on year. The funding will further help us to boost our growth and expand operations. More importantly, we are looking at the mentorship. We are a young team and with Mr. Choudhary’s strong background in the finance, we are looking at having the right investment strategy in the future.”

Amit Choudhary, Director, Motilal Oswal Private Equity said, “Lucideus has shown significant growth in the last 4 years of their business. They have a strong business model and with the rise of digital in the country, cyber-security is going to play a key role. Lucideus is one of the few start-ups which is making an impact in the cyber-security industry and has a clear vision. I am investing in that vision and hope to help Lucideus build a global business.”

The company is known to have worked with leading businesses both in India and abroad which includes giants like: Coca Cola, Tata Sky, ICICI Bank, Standard Chartered, Indigo and KFC etc.

The company is said to be also responsible for the security of the recently launched Unified Payments Interface (UPI).

The company is reckoning to tap growth of 200-250% in this very FY16