Nexus to invest INR30 crore in Indian cybersecurity firm Uniken
Nexus Venture Partners, a venture capital firm, will invest INR30 crore in digital security tech company Uniken. The latter will use the investment for its global expansion into new markets such as Israel and the US, according to The Economic Times.
Uniken currently operates in India and the US. The firm's clients include Axis Bank and Bank of India. The cybersecurity group was co-founded by Chief Executive Sanjay Deshpande, his Infosys co-workers Nilesh Dhande and Nanjundeshwar Ganapathy, and Prakash Salve from IMRglobal, the report detailed.
At present, Uniken's REL-ID digital security platform has a million users from the banking, insurance, and finance industries, the report added.
Nexus managing director Sandeep Singhal said of the security firm: "Uniken is disrupting the digital security space with this platform that provides military grade security with rich digital experience."
The Uniken deal marks Nexus' first time to invest in the digital security sector, The Economic Times reported.