Bangalore: IDG Ventures India, a $150-million early-stage technology venture capital fund, has announced an investment of $3 million in Aujas Networks Pvt Ltd, a pure-play digital security services start up. Run-up to Budget 2008-09
The Bangalore-based Aujas will address a global security services market currently over $17 billion and growing annually at over 17 per cent. Aujas plans to utilise the investment to build its sales presence in India, West Asia, Europe, Asia Pacific and North America and to significantly enhance its service offering development initiatives, said an IDG release.
Srinivas Rao, Sameer Shelke and Ms Manjula Sridhar, a team of experienced security professionals from the industry, co-founded Aujas. Earlier, as the Director of Network Solutions, Rao scaled the company from its early days to becoming a leading IT Infrastructure solution integrator, which resulted in acquisition by IBM Global Services in 2005.
Aujas offers high-end security services across a broad range of technologies including core wireless networks, VoIP and cyber forensics. Its security services are significantly productised and are domain specific in key sectors such as telecom, banking and financial services industry (BFSI) and Defence.
“The successful closure of this deal with a keenly short listed A-grade founding team validates the potential of our entrepreneur-in-residence model. Aujas is our second investment in the information security space. The company has hit the ground running with a channel partnership MoU already inked with iViZ, our first investment in information security software product sector from India,” said Sudhir Sethi, Founder, Chairman and Managing Director, IDG Ventures India.
The Bangalore-based Aujas will address a global security services market currently over $17 billion and growing annually at over 17 per cent. Aujas plans to utilise the investment to build its sales presence in India, West Asia, Europe, Asia Pacific and North America and to significantly enhance its service offering development initiatives, said an IDG release.
Srinivas Rao, Sameer Shelke and Ms Manjula Sridhar, a team of experienced security professionals from the industry, co-founded Aujas. Earlier, as the Director of Network Solutions, Rao scaled the company from its early days to becoming a leading IT Infrastructure solution integrator, which resulted in acquisition by IBM Global Services in 2005.
Aujas offers high-end security services across a broad range of technologies including core wireless networks, VoIP and cyber forensics. Its security services are significantly productised and are domain specific in key sectors such as telecom, banking and financial services industry (BFSI) and Defence.
“The successful closure of this deal with a keenly short listed A-grade founding team validates the potential of our entrepreneur-in-residence model. Aujas is our second investment in the information security space. The company has hit the ground running with a channel partnership MoU already inked with iViZ, our first investment in information security software product sector from India,” said Sudhir Sethi, Founder, Chairman and Managing Director, IDG Ventures India.
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