Deep Algorithm Solutions Secures ₹10.8 Crore in Seed Funding to Boost AI-Powered Cybersecurity

Cybersecurity Startup Deep Algorithm Solutions Raises ₹10.8 Cr in Seed Round | AIM

The company announced that the funds will expedite market initiatives in India and Southeast Asia, as well as enhance its AI and fraud analytics capabilities. Deep Algorithm Solutions, a cybersecurity and AI startup specialising in fraud prevention for digital financial systems, has successfully raised ₹10.8 crore, with Unicorn India Ventures leading the funding round. Other angel investors also contributed to this investment. The fund will primarily be allocated to enhancing their engineering and threat intelligence teams, accelerating go-to-market initiatives in India and Southeast Asia, expanding integrations with key enterprise platforms like Azure AD and Okta, and upgrading their behavioural AI and fraud analytics engine. JP Mishra, founder and CEO, Deep Algorithm, says, "We are solving some of the most critical and nuanced security problems in digital Identity Security and Fraud Prevention using indigenous AI." The company intends to expand its sales presence in key financial hubs, such as Mumbai and Bengaluru, and is actively negotiating with clients in Kenya, South Africa, and the UAE. Moreover, they are developing channel partnerships with system integrators and cloud marketplaces. Over the next 12-18 months, the firm plans to introduce a commercial SaaS model for mid-market clients, expand into two international markets, launch an analytics dashboard for fraud and risk teams, and enhance its R&D efforts on agentic AI for fraud resolution. Deep Algorithm has completed a live deployment at a government organisation and is currently in discussions with numerous Indian banks and fintech companies. The company has also released adapIDAI, an adaptive behavioural intelligence identity security solution, and BotShield, designed to prevent zero-day attacks, mitigate DDoS attacks, and provide runtime application security. Commenting on the investment, Anil Joshi, managing partner, Unicorn India Ventures, said, "The rising demand for cybersecurity solutions is strengthening market growth. [Hence], it has become crucial to provide comprehensive tech deliverables to businesses, especially for the BFSI sector, as they carry a highly sensitive nature of financial data."

Cybersecurity startup Deep Algorithm raises Rs 10.8 crore from Unicorn India Ventures - The Economic Times

Deep Algorithm Solutions, a cybersecurity and artificial intelligence (AI) startup specialising in fraud prevention in digital financial systems, has raised its first seed round of Rs 10.8 crore from Unicorn India Ventures. Founded in December 2021 by JP Mishra, the company focuses on fraud prevention in the finance sector. It offers products such as adaptive behavioural intelligence identity security (adapIDAI), which is a platform that uses AI to monitor how users interact with their devices, creating unique behavioural patterns for each individual, enabling accurate fraud detection. The platform tracks user patterns such as finger pressure while tapping the screen, phone-holding behavior, and typing speed. "We are trying to solve fraudulent activity, especially with banks, to prevent bot attacks and other cybersecurity risks," JP Mishra, founder and CEO, Deep Algorithm, told ET. The company's other platform, BotShield, acts as a digital security guard that protects websites and apps from cyber attacks, including hackers trying to crash systems by overwhelming them with fake traffic, and blocks malicious software from infiltrating applications while they're running. The funds raised will be used to scale engineering and threat intelligence teams, accelerate go-to-market activities in India and Southeast Asia, expand integrations with key enterprise platforms, and enhance its behavioural AI and fraud analytics engine. The application has been deployed at DCB Bank, a private sector lender, and the National Capital Region Transport Corporation (NCRTC), a government company that builds and operates rapid transit systems to improve connectivity and transportation in the Delhi National Capital Region, Mishra added. Deep Algorithm aims to provide cybersecurity solutions using technologies like AI, blockchain, the internet of things (IoT), and cloud to more effectively guard against fraud and cyberthreats to drive digital transformation and accelerate business growth. The startup was incubated at IIIT Hyderabad and the leading innovation centres in IIT Mandi and IIT Kanpur. The company plans to expand its sales presence in banking, financial services, and insurance (BFSI) hubs like Mumbai and Bengaluru and is in talks with clients in Kenya, South Africa, and the UAE. It is also building channel partnerships with system integrators and cloud marketplaces.