Singapore-based WatchTowr collaborates with Indian Investors to expand footprint in India
watchTowr has raised USD 8 million in a pre-series A round with contributions from five Indian angel investors including Saket Agarwal of Onnivation, Gaurav Gupta of Farfetch, Bikram Singh Bedi of Google India, and Gaurav Samdaria of Karza Technologies, alongside global investors, including Prosus Ventures and Vulcan Capital.
The fund infusion from the Indian investors will help the cybersecurity technology and Attack Surface Management startup to scale its operations in the country, explore fertile market opportunities, and address the rising cases of cyberattacks in the country.
India represents the world’s third-largest technology hub with rapid penetration of the Internet. While this has created multiple new business opportunities with high rewards, it has also amplified the threat landscape for cyberattacks and ransomware threats. India reported more than 6.74 lakh cybersecurity incidents in 2022 till June. This creates significant room for innovation, especially in the cybersecurity services and products sector, which recorded a combined revenue of USD 9.85 billion in 2021. Furthermore, the cybersecurity industry is expected to experience unprecedented growth as more businesses migrate to the cloud to improve efficiencies.
watchTowr's technology builds a real-time view of an organization’s attack surface in the eyes of an attacker, typically empowering CISOs with a 300-400 per cent increase in attack surface visibility.
“In real-time, our technology gives organisations a visibility of how they could be compromised. watchTowr continuously incorporates the latest attacker tactics and techniques into the watchTowr Platform so that CISOs can understand their susceptibility to emerging vulnerabilities and threats in hours, rather than weeks or months”, said Benjamin Harris, CEO, watchTowr.
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