Introduction
Cybersecurity is a set of strategies for securing networks, programmes, and data against attack, harm, and unwanted access. In terms of computing, security includes both cybersecurity and physical security, which are both utilized by businesses to prevent illegal access to data centres and other computerised systems.
Information security is a subset of cybersecurity that aims to protect data’s confidentiality, integrity, and availability. Cyber security can aid in risk management and help prevent cyber attacks, data breaches, and identity theft.
These three terms are interchangeable with the well-known CIA triad of Confidentiality, Integrity, and Availability. The CIA triad is also known as the “three pillars of security,” and most organisations’ security policies are based on these three concepts.
In India, there are a lot of cybersecurity startups and businesses that have been rising in this space and making a name for themselves, and are in no way smaller than most cybersecurity startups in other countries. Let’s take a look at some of these startups, and see why the industry is looking at a really healthy growth rate in the country.
Cyber Security In India – Overview
India has entered a new era of digitalization as a result of the COVID-19 epidemic. However, there is a cost to be paid. The use of cloud platforms, digital payments, and ecommerce, as well as the country’s almost 700 million internet users, has resulted in an increase in cyber risks.
Recent data breaches at JustDial, Unacademy, JusPay, Dr Reddy’s, Lupin, Big Basket, and BuyUCoin, among others, have raised concerns about India’s data security, prompting calls for tighter cybersecurity legislation.
As a result, Indian cybersecurity businesses now have access to a hitherto untapped and untapped market. As Anil Joshi, Managing Partner of Unicorn India Ventures, points out, India’s global leadership position in the IT services space, as well as the availability of a large talent pool owing to the country’s top tech institutes, has aided the emergence and growth of many domestic cybersecurity startups.
At the same time, India is well suited to create world-class cybersecurity products for the world, according to Gautam Patel, Managing Partner, Z3 Partners, given the wealth of technology talent created by product companies such as Flipkart, Zoho, Amazon India, and others, as well as talent from IT services companies. Needless to say, that’s a pretty big market, and with an abundance in talent.
Is Cybersecurity In India Worth Your Time? – Scope & Future
In India, the cyber security market was worth roughly 140 billion rupees in 2019. The industry is expected to reach up to 290 billion rupees by 2025, owing to the rise in digital adoption, which has resulted in a surge in online attacks. In addition to having one of the world’s largest markets for internet usage, India had the highest percentage of users who had been victims of cybercrime, approximately 30 percent more than the global average.
Adding to other disruptions, the onset of the pandemic has resulted in an increase in online crime due to the exposure of working from home. Financial frauds, internet gaming, and stalking were all examples of this. According to a survey, the main issue is a lack of knowledge and education among the country’s netizens.
In 2019, services and products in the cyber security market had nearly equal market share in the country. Security IDR had the highest market share among security products that year. Security activities accounted for around 39 percent of the service category in the same year
So safe to say, pursuing a career in cybersecurity is definitely one you should consider. It’s a lot of fun, in demand, and really worth the effort. Here’s a list of cybersecurity startups in India that are sure to catch your eye.
CyberSecurity Startups In India
- Lucideus
Lucideus was founded in 2012 by Saket Modi, Rahul Tyagi, and Vidit Baxi at IIT Bombay. They provide cutting-edge information security services and AI-ML enabled platforms to businesses all over the world, allowing them to proactively safeguard, monitor, and effectively respond to cyber-threats and mitigate cyber-attacks. They allow corporate leaders to prioritise cyber security and make well-informed decisions about security concerns. Lucideus presently serves more than 150 clients in 16 countries across five continents.
Angel investors such as Rajan Anandan, Kulmeet Bawa, Govind Rajan, Jonathan Boutelle, and others have contributed to Lucideus’ success. JC2 Venture Firms invested USD 5 million in it in 2018. Lucideus aspires to reach a point where India’s revenue accounts for only 11% of its total worldwide sales.
Sequretek, a cyber security startup founded in 2013 in Mumbai by Anand Naik and Pankit Desai, aims to simplify security for enterprises by equipping them with AI and machine learning-driven security tools and solutions, as well as full enterprise visibility, to be armed against all threats – known and unknown.
Sequretek has experience in a variety of industries, including banking and financial services, e-commerce, retail, healthcare, insurance, entertainment, and manufacturing. Sequretek presently has over 60 clients and has raised USD 4 million in a bridge fundraising round from previous backers Gujarat Venture Finance Ltd. and Unicorn India Ventures. In the next few months, it will hold a Series A investment round. Sequretek recently commenced operations in the United States and plans to develop further in the North American market while also scaling up in India.
SecurityBulls, founded in Indore in 2016 by Geet Vaishnav and Prateek Sharma, is a startup that provides encyclopaedic pen-testing, IT security assessments, and infrastructure security services to analyse a client company’s digital assets from the perspective of cyber-attackers, assess their security risk posture, and provide a remediation blueprint to help improve their client’s cyber security strategies.
In its bespoke solutions, it blends the power of digitization and automation with the expertise and insight of security specialists. Despite various hurdles in starting out and scaling in a Tier I city, Securitybulls has evolved from strength to strength. They collaborate with global heavyweights like Google, Microsoft, Adobe, and Twitter and serve clients across the Americas, Asia, and Europe.
SecurityBulls is presently developing an AI-powered smart contract code review platform for the Blockchain industry, as well as an AI-powered online vulnerability scanner that can detect business logic errors.
Seconize is a Bangalore-based cyber security startup founded in 2017 by Sashank Dara and Chethan Anand that provides cloud-based, AI/ML-enabled, automated security solutions to businesses that are embracing digitization. Through proactive risk assessment, identification, remediation, and management across all IT assets with real-time risk posture and zero human error, these solutions enable companies to de-risk themselves in a unified, continuous, and consistent manner.
Their system automates the analysis of regulatory and compliance gaps at the regional and global levels. The firm is working towards its goal of disrupting and revolutionising the enterprise IT risk assessment market. It is supported by NASSCOM 10,000 Startups, CYLON labs, and ICE71’s (Innovation Cyber Security Ecosystem at BLOCK71) accelerator programme, which is situated in Singapore. The Indian Data Security Council has approved it.
Seconize is now trying to extend its activities in the Asia Pacific, and has established an office in Singapore with the help of Singtel (a prominent Singapore telecommunications company) and NUS Enterprise.
- Lakshya Cybersecurity Labs
Premchand Kurup and Pradeep Menon started Lakshya Cybersecurity Labs in Coimbatore in 2017. This next-generation startup, created by seasoned scientists and academics, collaborates with forward-thinking businesses to provide tailored security solutions and programmes. Clients can benefit from their consultancy, security research, outsourcing, and education services. Lakshya Cybersecurity Labs strives to prevent cyber-attacks by detecting and intercepting them before they happen and providing 360-degree protection for all of their digital assets.
Lakshya Cybersecurity Labs was recently acquired by Zacco, a Danish intellectual property company, to incorporate into its R&D centre in India. The startup’s competence in domains such as banking, financial services, insurance, aviation, manufacturing, government, and others, as well as its specialist work in IP, compliance, and cyber security, led to the acquisition. Powered by Zacco, the firm aims to change worldwide enterprise cyber security strategy and operations.
- SheildSquare
ShieldSquare, a cybersecurity business established in Bangalore, Karnataka, assists online sites in preventing web scraping by competitors’ and unauthorised third-party bots. The company provides a non-intrusive API-based solution for detecting and removing malicious bot traffic in real time from websites, mobile apps, and APIs.
Its system identifies and eliminates invalid traffic with zero false positives using intent-based deep behaviour analysis, device fingerprinting, and domain-specific detection technologies. In Forrester Research’s New WaveTM: Bot Management Report for Q3 2018, ShieldSquare was listed as a Leader.
Secuneus is a multi-award-winning supplier of managed detection, response, and security assessment services. The organisation ensures that its clients are armed to continuously prevent, identify, and respond to cyber attacks by using its awareness of the strategies used by attackers to breach defences, in-depth knowledge of the newest security tools, and a commitment to innovation. Secuneus also has a Penetration Testing & Information Security training curriculum that will provide a learner with knowledge in a simple and easy-to-understand format.
Cyber Security In The US
Cyber security is a highly profitable business. In 2013, the United States spent 79 billion dollars on cyber security, while the rest of the world spent only 83 billion dollars. Due to greater knowledge and threats, the US amount progressively grew to 109 billion dollars in the beginning of 2016.
Because of certain online crimes, US businesses have significantly raised their cyber security spending to ensure that the information they hold is safe and secure. A cyber crime costs millions of dollars every time it is perpetrated.
The United States has acknowledged the need of cyber security as a result of the progress of cyber crime and cyber hacking, catapulting their cyber security business to a global leadership position. The evolution of cyber attacks and hackers will continue as long as technology advances, and therein lies the business opportunity.
Conclusion
Cybercriminals now have unrestricted access to firms’ secret assets due to the rapid innovation and proliferation of technology. Cyberattacks and data breaches have become more common in recent years. The year 2020 was notable in several ways, with the COVID-19 pandemic having a tremendous impact.
When it comes to hazards, cybersecurity concerns have been on the rise in recent years. As employees migrated to local networks for their jobs, remote work, or work from home, the business model has been the most targeted by criminal actors. In the first half of 2020 alone, 81 worldwide corporations from 81 countries disclosed data breaches, according to a research.
Indeed, the number of data breaches has nearly doubled in 2020, with 3,950 confirmed breaches compared to 2,103 in 2019. As AI progresses, we will see how far we can push this technology to be both a blessing and a curse to cybersecurity and society in general. So there you have it: a list of the best cyber security startups in India to watch in 2021. We hope you found this post to be useful and instructive, and you can always check out the Spottabl blog for more career guidance.
