Treacle, a burgeoning player in the cybersecurity arena, has successfully secured Rs 4 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). This funding round is poised to catapult Treacle into the next phase of growth and innovation.
- Company Name: Treacle
- Industry: Cybersecurity
- Funding Amount: ₹4 Crore
- Funding Date: 15-05-2024
- Dilution Percentage: NA
- Founder Details: Treacle was founded by Subhasis Mukhopadhyay, Subhajit Manna, and Partha Das.
Treacle’s groundbreaking AI-based deception technology is the cornerstone of its cybersecurity prowess. This technology offers advanced protection by meticulously analyzing attacker behavior, diverting them into mirage networks, and issuing early warnings to SOC (Security Operations Center) analysts. The startup’s proactive approach to identifying threats, coupled with its AI-based early warning system, fortifies its defense against evolving cyber threats.
Commenting on this pivotal development, Subhasis Mukhopadhyay, Co-Founder & CEO of Treacle, expressed the company’s commitment to safeguarding network infrastructures through early detection, containment, and deception of threats. He emphasized Treacle’s dedication to providing premium security solutions in an affordable manner, with the ultimate goal of establishing itself as a market leader and contributing to making the cyber world a safer place within the next five to six years.
Expansion and Utilization of Funds: The funding secured by Treacle will be instrumental in enhancing its technical and business development, marketing and office expenses, and partnerships. Additionally, the startup plans to utilize the funds for its expansion in the Indian market, a strategic move that aligns with its vision of becoming a formidable force in the cybersecurity landscape.
Previous Achievements: Treacle has previously secured grants such as the C3iHub grant and the SISFS grant, totaling Rs 26 lakhs in 2021 and 2022, respectively. Moreover, the startup represented India under DPIIT and participated in a sponsored delegation trip to Dubai in 2022, showcasing its burgeoning presence and potential in the cybersecurity domain.
Industry Trends: According to startup data intelligence platform TheKredible, cybersecurity startups raised around $75 million across seven deals in 2023, indicating a robust investor interest in this space. This funding round marks Treacle’s third funding in 2024, highlighting its momentum and investor confidence.
Market Dynamics: In a significant development, artificial intelligence-driven cybersecurity platform SentinelOne acquired PingSafe in a cash and stock deal earlier this year, underscoring the growing consolidation and evolution within the cybersecurity sector.
Treacle’s successful funding round not only signifies a major milestone for the startup but also underscores the immense potential of AI-driven cybersecurity solutions in combating evolving cyber threats. With its innovative technology and strategic vision, Treacle is poised to redefine the cybersecurity landscape and emerge as a trailblazer in the industry.