Uniken raises Rs 12 crore as bridge funding from Exfinity Ventures
“We also have the Indian Navy’s Weapons and Electronic Systems Engineering Establishment adopting our technology,” said Deshpande.
“This is a bridge round for us, before we go in for a larger series B round. The aim of this round was not just to raise money, but to gain from the expertise of the Exfinity team. They are aligned with our vision and their vast experience will help us grow further,” said Sanjay Deshpande, CEO and cofounder of Uniken.
Uniken has developed a digital security platform, REL-ID, which helps connect users, devices and apps through a secure network, protected from hi-tech online attacks. Clients in India include Axis Bank, Yes Bank, Bank of India, and Kotak Mahindra Bank, among others.
“We also have the Indian Navy’s Weapons and Electronic Systems Engineering Establishment adopting our technology,” said Deshpande. Uniken will be using the funding to further expand its client base in India, Israel and the US. The company has seen growth of 200% year on year, and competes with global MNCs such as EMC Corp., Symantec and Vasco.
Exfinity will have a representative on the Uniken board, and plans to help the company connect with the ecosystem. “As big corporations move towards cloud technology, data security is becoming a big concern today,” said Balakrishnan, chairman of Exfinity Ventures, which looks to invest in tech companies focused on cloud, data analytics and digital security.