Induz, a promising player in the data security sector, has raised $780,000 in a funding round led by YourNest Venture Capital, which contributed $750,000, supplemented by $30,000 from SanchiConnect as part of the YourNest-SanchiConnect Velocity Program 2024.
The new capital injection is set to propel the company’s product development initiatives, facilitate paid proof of concepts (POCs) with clients, and secure essential security certifications. These steps aim to strengthen Induz’s position in delivering reliable and compliant data security solutions.
Founded in 2023 by industry veterans Tirumalesh Chalamarla and Sreerama Mohan Gadam, Induz has rapidly gained attention for its commitment to innovation in data security. The company’s vision includes developing proprietary hardware roots of trust and launching its Confidential Identity and Access Management (Confidential IAM) system alongside an integrated data delivery solution. These advancements are expected to complete their suite of services, designed to address the stringent requirements of industries like insurance, FinTech, banking, and government sectors.
Induz’s comprehensive offerings aim to provide robust protection and full control over sensitive data across various cloud environments, empowering enterprises to operate securely without reliance on external infrastructure providers. This strategic direction aligns with the expanding global data security market, which stands at an estimated value of $50 billion.
By combining cutting-edge technology with critical certifications, Induz seeks to address the growing demand for secure AI model training and data management, ensuring client data remains compliant and protected across all environments.
