Quick Heal Technologies Ltd, a cybersecurity and data protection solutions provider, has invested Rs 2 crore ($263,222 at current exchange rates) in Ray Pte. Ltd, a Singapore-based startup specializing in next-generation networking and wireless technology.
The Pune-based company made this investment as part of its efforts to support startups dealing with disruptive technologies.
“The team at Ray is building futuristic solutions keeping IoT and cloud computing technologies in mind which makes them an ideal partner,” Kailash Katkar, MD at Quick Heal, said.
Launched in 2019, Ray’s flagship product RayOS powers network and IoT devices and enables a multitude of innovative use cases for its global customer base through an extensible, cloud-native OS with a SAAS based app store experience.
Hemal Patel, the founder at Ray, said the funding is going to help the firm accelerate its product innovations and increase its reach in multiple geographies.
Quick Heal, launched in 1995, helps in simplifying security by delivering the best in class protection against advanced cyber-attacks. Its portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.
The company, which recently invested Rs 2.2 crore in Israel based L7 Defense, went public in 2016.
Deals in the cybersecurity segment
The cybersecurity has seen no shortage of investor and strategic interest, especially as startups have begun employing frontier technologies such as artificial intelligence and machine learning to be able to adapt to consumer and enterprise needs.
In December, Kratikal Tech Pvt. Ltd, which operates an eponymous end-to-end cybersecurity startup, had raised $1 million in its pre-Series A funding round.
Around the same time, Lucideus Inc., which operates an eponymous startup focussed on providing cybersecurity solutions for companies, raised $7 million from investors including the venture capital arm of Japan’s MS&AD Insurance Group Holdings and the US-based Western Technology Investment.
In November, SafeHouse Technologies Ltd, a startup focussed on mobile-first cybersecurity, raised $2.2 million in a seed funding round led by Barclays UK Ventures, the venture capital business unit of British multinational financial services group Barclays.
In June, software engineering and services provider Cyient invested in Israeli rail cybersecurity firm Cylus Ltd, which was in line with its strategy of developing mobility solutions.
Before that, in March, the National Stock Exchange subsidiary NSEIT Ltd acquired security company Aujas Networks Pvt. Ltd to bolster its IT security offerings.