Cloud storage is expensive (especially in this economy), but many companies often over-provision, cutting their full return on investment. Lucidity was created to help them manage block storage more efficiently with a set of automated tools. The startup announced today that is has raised $5.3 million in seed funding. The round was led by AlphaWave Investments with participation from Beenext, Blume, Bold Capital and NuVentures.
The company previously raised $500,000 in pre-seed funding last year led by Beenext.
Lucidity says its “NoOps” (or completely automated) orchestration layer can make a company’s cloud block storage 70% cheaper and 10x faster, without any code changes. It handles storage provisioning while getting rid of potential downtime during surge web traffic.
Lucidity was founded last year by Vatsal Rastogi, whose former roles include working as a developer at Microsoft Azure and with Indian online food delivery unicorn Swiggy, and Nitin Bhaduria, former head of sales at Tracxn.
Bhaduria says that many companies flocked to the cloud in the wake of the pandemic, but used a “lift and shift” approach, meaning that they moved data and apps without modifications. While this was the quickest approach, it resulted in over-provisioning and other issues that hurt ROI. It also made it harder for companies that had previously stored data in on-premise servers to transition to a cloud-first approach.
Lucidity’s customers are typically enterprise and upper…
