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IDG Ventures India invests $3 Mn in Aujas
By Saheer Karimbayil
Bangalore: Launch of an IT company is nothing new to the Silicon Valley of India given the huge chunk of players operating in this part of the earth. But what differentiates the launch of Aujas Networks is that this is the seventh company in India that IDG Ventures India, the Indian arm of IDG Ventures, has made investment in - three million dollar. It is also the second investment of the fund in the information security space, a market which is worth $17 billion dollars.
A pure play digital security service start-up, Aujas has been co-founded by Srinivas Rao who is the company CEO; Sameer Shelke, COO of the firm; and Manjula Sridhar the company CTO. Manjula, who works as Entrepreneur in Residence with IDG, was the brain behind the business plan of Aujas.
When asked about global plans and acquisitions, Rao said that the company is looking to make a global presence by spreading its hand to Middle East and the U.S. "More over, we have plans to start acquisitions in three to four years," he added.
"Aujas fits well with IDG Ventures mandate of backing early stage technology firms with leading management talent. And IDG ventures is looking to strengthen its India focus as the country is experiencing a big wave of entrepreneurial activities", said Patrick McGovern, Founder and Chairman of IDG.
In its operation in the market, Aujas has an agreement with iViZ, a network security firm, to receive assessment services. IViZ, which was the first IT security firm that IDG Venture India made investment in, will focus on depth and automation of assessment services and provide Aujas with service to address the security lifecycle with specific domain expertise.