IT solutions start-up Indusface gets USD 5 mn in funding

Indusface, a start-up providing IT security solutions, has received USD 5 million funding from Tata Capital Growth Fund II. The funding will be used by Indusface for global customer acquisition and product innovation, Tata Capital said in a release.

"We believe that the cybersecurity market will continue to see significant growth as securing digital assets becomes a priority with the increased salience of digital business processes," Tata Capital Growth Fund's Managing Partner Akhil Awasthi said in the release. After the transaction, Tata Capital Growth Fund Partner Pramod Ahuja will join the Indusface board.

Indusface solutions help customers in detecting security risks and protect them from being hacked. TCGF II invests in companies that focus on urbanisation, discrete manufacturing and strategic services.