TAC Security Solutions, which provides cybersecurity solutions to corporate clients, has secured an undisclosed amount of funding in a pre-Series A round from Vijay Kedia.
Kedia is a stock market investor, managing director of Kedia Securities Pvt. Ltd and director of three-wheeler maker Atul Auto Ltd, the company said in a statement.
TAC Security now plans to close its Series A funding of $10 million within this financial year.
“It is estimated that every minute, half a million attack attempts are happening in cyberspace. I believe the opportunities available in this space would possibly beat the estimations of $170 billion by 2020 and grow further,” said Kedia.
Kedia will join the company’s board as a non-executive director and help expand TAC’s business globally. TAC Security had previously inducted Subinder Khurana, a former vice president at Cognizant, to its board, the statement said.
The startup was founded in 2013 by 21-year-old Trishneet Arora, a cybersecurity expert and ethical hacker. TAC counts Reliance Industries Ltd, Gujarat Police, Punjab Police, International Tractors Ltd, Amul, Avon Cycles, and the Central Bureau of Investigation as its clients.
TAC Security joins Bengaluru- and Singapore-based mobile security firm Appknox in raising funds. Appknox secured S$875,000 ($650,000 or Rs 4.35 crore) in pre-Series A funding led by seed-stage venture capital firm SeedPlus last week.
The same week, software services firm Wipro invested $1.5 million (Rs 10 crore) in Israeli cybersecurity startup Intsights Cyber Intelligence Ltd. In April, the IT major had invested an undisclosed amount in US-based cybersecurity firm Vectra Networks Inc.
In May, Pune- and Florida-based Uniken Inc, an enterprise security solutions firm, raised Rs 12 crore from early-stage venture capital firm Exfinity Venture Partners.
Like this report? Sign up for our daily newsletter to get our top reports.