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

AI-Driven Cybersecurity Startup Secures Significant Seed Funding

Deep Algorithm Solutions, a cybersecurity and artificial intelligence (AI) startup specializing in fraud prevention for digital financial systems, has successfully raised ₹10.8 crore (approximately $1.3 million) in a seed funding round. The investment was led by Unicorn India Ventures, with participation from other angel investors 2

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Company Background and Innovative Solutions

Founded in December 2021 by JP Mishra, Deep Algorithm Solutions focuses on addressing critical security challenges in the finance sector. The company has developed two key products:

1. adapIDAI (adaptive behavioural intelligence identity security): An AI-powered platform that monitors user interactions with devices, creating unique behavioral patterns for each individual. This enables accurate fraud detection by tracking patterns such as finger pressure, phone-holding behavior, and typing speed 2

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2. BotShield: A digital security solution that protects websites and apps from various cyber attacks, including DDoS attacks and runtime application security threats 2

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JP Mishra, founder and CEO of Deep Algorithm, emphasized the company's focus on solving critical security problems: "We are solving some of the most critical and nuanced security problems in digital Identity Security and Fraud Prevention using indigenous AI" .

Source: ET

Funding Allocation and Expansion Plans

The newly acquired funds will be strategically allocated to several key areas:

1. Enhancing engineering and threat intelligence teams
2. Accelerating go-to-market initiatives in India and Southeast Asia
3. Expanding integrations with key enterprise platforms like Azure AD and Okta
4. Upgrading the company's behavioral AI and fraud analytics engine 2

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Over the next 12-18 months, Deep Algorithm 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
• Enhance R&D efforts on agentic AI for fraud resolution

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Market Traction and Deployments

Source: AIM

Deep Algorithm has already gained significant traction in the market:

• Completed a live deployment at a government organization
• Deployed its solution at DCB Bank, a private sector lender
• Implemented its technology at the National Capital Region Transport Corporation (NCRTC) 2

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The company is currently in discussions with numerous Indian banks and fintech companies, showcasing strong interest in its AI-driven cybersecurity solutions .

Industry Perspective and Future Outlook

Anil Joshi, managing partner at Unicorn India Ventures, commented on the investment: "The rising demand for cybersecurity solutions is strengthening market growth. 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" .

Deep Algorithm aims to leverage technologies such as AI, blockchain, Internet of Things (IoT), and cloud computing to provide more effective protection against fraud and cyber threats. This approach is designed to drive digital transformation and accelerate business growth in the cybersecurity sector 2

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As the company moves forward, it plans to expand its sales presence in key financial hubs like Mumbai and Bengaluru. Additionally, Deep Algorithm is actively negotiating with clients in Kenya, South Africa, and the UAE, while also developing channel partnerships with system integrators and cloud marketplaces 2

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