Livemint: June 24, 2016
New Delhi: Kstart, a start-up accelerator run by venture capital (VC) firm Kalaari Capital, has invested $500,000 in Parablu Inc., a cloud security start-up.
The company will invest the funds in team expansion, marketing and distribution activities.
Parablu was founded by Anand Prahlad and Ananda Rao Ladi in 2014 and provides intelligent cloud access security broker (CASB) enabled cloud security solutions for enterprises, enabling them to store business assets on the cloud.
It focuses on privacy, security and confidentiality of data. Its technology is pre-integrated with a range of cloud data management applications that the company has developed, which are designed to protect data that flows out of a company’s networks into the public cloud, thereby enabling easy adoption for enterprises.
Prahlad has close to 25 years of experience in building software solutions. He was previously the managing director and head of McAfee’s India Center. Ladi was a senior vice-president in Mindtree before joining Parablu.
Parablu currently has 16 employees and will be adding roughly 10 more in the next 6-7 months.
“Our solutions enable enterprises to become less dependent on in-house storage and adopt cloud with confidence. The association with Kstart will help us in expanding our product portfolio for global markets,” said Ladi, executive vice-president of engineering and support, Parablu.
In February, Kalaari Capital, the homegrown venture capital firm with stakes in unicorns such as Flipkart Ltd and Snapdeal (Jasper Infotech Pvt. Ltd), launched Kstart, putting aside $20 million for the programme over the next two years.
Last month, Kstart announced an investment of $500,000 each in three start-ups in healthcare, financial services and online video content management space—Affordplan, Active.ai and Indee respectively.
“Parablu has a very strong team with deep understanding of the cloud security space. As cloud usage continues to increase within enterprises, there is tremendous opportunity ahead for Parablu’s unique product,” said Vani Kola, managing director, Kalaari Capital.
Kalaari Capital, which was founded in 2006, has around $650 million in assets under management including its third fund of $290 million that was launched last September. Apart from Flipkart and Snapdeal, some other large start-ups in Kalaari’s portfolios include online furniture store Urban Ladder, education technology start-up Simplilearn and online lingerie store Zivame.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.