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Cyber security firm Uniken to expand operations globally

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Uniken, a cyber security firm has announced to expand its operations globally by raising USD 10 million from the US financial markets and will set up a regional office to manage Asia Pacific markets.

“We are expanding very rapidly. We are aiming to have 50 million to 100 million corporate customers worldwide in the next two years,” said Sanjay Deshpande, the co-founder and Chief Innovation Officer at Pune-based Uniken’s R&D Centre.

Currently, the company which was incorporated on December 30, 2013, has more than two million users in India. It offers digital connectivity technology which creates a software-based network to make digital connection safe. Banks use it to create their own private internet network for customers. Their clients include Axis Bank, Yes Bank, Bank of India, and Kotak Mahindra Bank.

“We help banks create private network for customers, vendors and employees,” Deshpande said, pointing to the constant security threat on the internet.

“This is a very classic case of India-born deep technology through an R&D effort and then taking that technology global. We already have customers in Israel,” he told news agency PTI.

The USD 10 million series “B” will be raised within six months for expanding global market network as well as R&D work and product development, said Deshpande, who will continue to lead Pune R&D centre as Chief Scientist.

About 40 per cent of the new fund will be for R&D and product development at Pune. The rest will be for developing global markets and operations.

Uniken had raised USD 5 million in series “A” in September 2013.

The Singapore office to be opened soon in the coming months, will manage Asia Pacific markets. It has already open office in New York and named Bimal Gandhi as Global Chief Executive Officer. Gandhi is a former chairman of AmeriPrice India.

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