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SaaS startup Scalekit raises $5.5 Mn in seed round led by Together Fund and Z47

EntrackrEntrackr · 1m ago
SaaS startup Scalekit raises $5.5 Mn in seed round led by Together Fund and Z47
Medial

SaaS startup Scalekit has raised $5.5 million in a seed round led by Together Fund and Z47, with participation from angel investors including Adam Frankl, Oliver Jay, and Jagadeesh Kunda. Founded by Satya Devarakonda and a team of ex-Freshworks engineers, Scalekit offers modular, drop-in infrastructure for SaaS and AI-first teams. Products include MCP Auth for agentic servers, Agent Actions for secure API calls with consent and revocation, and modern human authentication with enterprise features like SSO and SCIM. Unlike monolithic solutions like Auth0, Scalekit’s à-la-carte approach lets developers adopt only what they need. The founding team previously developed Freshworks’ in-house auth platform, now used by over 50,000 businesses and 2 million users, and saw firsthand how painful it was for SaaS teams to deliver secure, enterprise-ready authentication. The firm is building the authentication and actions layer for AI-native applications. With protocols like the Model Context Protocol (MCP), applications are exposing functionality directly to agents, breaking traditional identity systems designed for humans. Scalekit is now building the authentication foundation for the agentic era. Already used by startups such as Hubbl, Sifthub, Fello, Unstract, Tiphaus, and Aerchain, Scalekit helps teams move agentic workflows from prototypes to production.

Scrut Automation kicks off Series A round with $9 Mn

EntrackrEntrackr · 1y ago
Scrut Automation kicks off Series A round with $9 Mn
Medial

Risk-focused compliance automation platform Scrut Automation has raised Rs 75 crore or $9 million in its series A round from existing investors. The round also saw the participation of Lightspeed Partners, MassMutual Ventures, and Endiya Partners. The board at Scrut Automation has passed a special resolution to issue 4,977 Series A CCPS at an issue price of Rs 1,50,188 each to raise Rs 75 crore or $9 million, its regulatory filing sourced from the Registrar of Companies shows. Lightspeed India and MassMutual Ventures pumped in Rs 41.5 crore and Rs 24.9 crore, respectively, while the rest of the amount came from Endiya during the round. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 615 crore or $75 million post-allotment. Scrut Automation has secured over $20 million to date. As per TheKredible, Lightspeed India is the largest shareholder in the startup with a 20.74% stake followed by Endiya Partners and MassMutual Investors with 15.34% and 12.55% shares, respectively. Its co-founders Ayush Ghosh Choudhury, Jayesh Gadewar, and Kush Kaushik cumulatively own 38% of the company. Founded in 2020, Scrut streamlines numerous labor-intensive compliance tasks through integration with cloud and SaaS tools. It gathers hundreds of evidence artifacts automatically and helps monitor entity-level risks and controls from a single dashboard. It supports 15 compliances including risk management, vendor risk, policy, continuous compliance, evidence collection, access control, and others. It partnered with 20 auditors and has a presence in more than 25 countries. During the fiscal year that ended March 2023, its revenue from operations was recorded at Rs 7.24 crore, rising from Rs 44 lakh in FY22. The Bengaluru-based company also posted a loss of Rs 15.40 crore in the same period.

Matters.AI raises Rs 55 Cr led by Kalaari and Endiya Partners

EntrackrEntrackr · 14d ago
Matters.AI raises Rs 55 Cr led by Kalaari and Endiya Partners
Medial

Snippets: Matters.AI raises Rs 55 Cr led by Kalaari and Endiya Partners Data security company Matters.AI has raised Rs 55 crore (6.2 million dollars) in a seed funding round co-led by Kalaari Capital and Endiya Partners, along with participation from Better Capital, Carya Venture Partners, and cybersecurity angels. The Bengaluru-based startup had previously raised Rs 13 crore in a pre-seed funding round from Better Capital and Carya Venture Partners. The proceeds will be used to accelerate research and development in predictive detection, expand go-to-market operations in India and the US, and strengthen engineering and customer success teams serving regulated industries under the DPDP framework, Matters.AI said in a press release. Co-founded in 2024 by Keshava Murthy and Harsh Sahu, Matters.AI is an AI-native data security platform that thinks like an engineer. By unifying DSPM, Insider Risk, DDR, Exfiltration Defense, and DLP into one intelligent layer, it understands what data means, who is interacting with it, and why, stopping threats before they become incidents. The platform aims to protect enterprises across India and the world. According to Matters.AI, the AI Security Engineer is a self-learning system that understands how sensitive data behaves, predicts misuse before it happens, and responds autonomously across cloud, SaaS, endpoints, and on-premises environments. It uses semantic graphs and predictive models to understand context and intent. Matters.AI offers full stack visibility including endpoint visibility and control through real-time data tracing, data lineage and fingerprinting to track how data moves and why, on-premises and SaaS deployments for hybrid enterprises, GenAI governance across ChatGPT, Gemini, and Copilot, and native integrations with Zoho, Snowflake, Salesforce, AWS, Azure, GCP, and Databricks. It competes with other notable players in this space such as Cyera, Orca Security, and Palo Alto Networks.

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