IvyCap leads $5m round for India's Aujas Networks
IvyCap Ventures has led a INR310 million ($5 million) round of funding for Aujas Networks, an information risk management (IRM) service provider. Existing investor IDG Ventures India, along with new entrant Rajasthan Venture Capital Fund (RVCF), also took part in the round.
The company was set up in 2008 by Srinivas Rao, a former Cisco Systems director, Navin Kotian, previously country managers for IBM India, and Sameer Shelke, a former director at Fidelity Investments who also worked at Cisco, HP and Microland.
Aujas helps enterprises mitigate risks associated with the use, ownership, operation and adoption of IT, and also to enhance information value. The firm claims to have more than 300 clients across 23 countries.
Aujas was originally incubated by IDG as part of its Entrepreneur-in-Residence (EIR) program and received an additional $2.8 million from the VC firm in 2008.
The company will use this latest round of funding to scale up its technology platform, hire staff, and strengthen its presence in North America, South Asia and West Asia. It currently has offices in Bangalore, Mumbai, Delhi, New Jersey, California, and the United Arab Emirates.
"Enterprise security is an evergreen and long-term IT focus area," Sudhir Sethi, founder of IDG Ventures India told The Economic Times. "Aujas has successfully positioned itself as a premier global player in this market."
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