India’s cybersecurity startups have been on the way up, thanks to increased realisation of digital risks on the part of companies as well as a push by the government to source more security software locally.
The latest to do well is Vehere, a Kolkata-based cybersecurity company which specialises in situational awareness. Vehere claims that it has crossed Rs 100 crore in revenue this year. Situational awareness is a part of the broader threat-intelligence framework which helps governments and companies constantly scan traffic on their networks and assess their vulnerabilities in real time, using artificial intelligence.
Crossing Rs 100 crore in revenues would signal around a 30% growth over FY21, when cybersecurity spending increased across governments and industries as they battled to plug the holes created by the disruption caused because of the Covid-19 pandemic. According to the company’s last filing of financials with the registrar of companies for FY20, its revenues from operations stood at more than Rs 77 crore. It has not yet filed the updated numbers for FY21.
While national security agencies may be early adopters of such intel, with Vehere sitting on petabytes of data that was flowing in and out of the country through satellites and undersea cables, the value of such data and the insights that can be gleaned from it for businesses is also real.