Nimesa Technology Pvt. Ltd, which operates a cloud-focused data protection software startup, has raised nearly Rs 6 crore (approximately $801,549 at current exchange rates) in funding.
The Bengaluru-based company said in a statement it has raised funding from venture capital fund Ideaspring Capital.
Tapesh Goyal, co-founder and CEO at Nimesa, said the firm is building cloud-native, enterprise-grade data protection, copy data management product, which is scalable, highly secure, cost-effective and simple to use
Separately, Ideaspring Capital managing director Naganand Doraswamy said the firm was confident in its investment because of the experience of Nimesa’s management team and the product built by the company.
Nimesa, co-founded by Goyal and Rajesh Vaidyanathan in 2018, says its platform allows for the instant creation of virtual copies of servers, databases, and applications. Its platform allows users to create full backups and recovery from the above-mentioned virtual copies within a matter of minutes, as opposed to the time taken by traditional data backup processes.
The startup claims its solution is three times more cost-effective than other offerings in the market.
Meanwhile, Bengaluru-based Ideaspring invests in early-stage enterprise product startups. The firm says it provides portfolio companies with both capital and network of other VCs and investment banks in India and the US
It also operates a ‘Startup Assist’ programme, which helps companies with business aspects including product management and positioning, and business-to-market fits.
In January, Ideaspring took part in a funding round in Numocity Technologies Pvt. Ltd, a startup that provides digital solutions for electric mobility infrastructure. Singapore- and Japan-based VC firm Rebright Partners and ABB Technology Ventures, the venture investment arm of ABB Group, also invested in the Bengaluru-based Numocity.
At the same time last year, Ideaspring committed around Rs 6.3 crore to Simyog Technology, a design and verification tools developer for electromagnetic interference (EMI) and electromagnetic compatibility (EMC). Other companies in Ideaspring’s portfolio include Lavelle Networks, Bewgle, Spanugo, and Mihup.