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SydeLabs raises $2.5 Mn led by RTP Global

EntrackrEntrackr · 1y ago
SydeLabs raises $2.5 Mn led by RTP Global
Medial

AI security and risk management startup SydeLabs has raised $2.5 million in its seed round led by RTP Global. The round also saw participation from Picus Capital and marquee angel investors such as Kunal Shah and Sai Srinivas Kiran. The startup will use the funds for research and development (R&D) and to build on its existing product portfolio. Founded by Ruchir Patwa and Ankita Kumari, SydeLabs offers solutions to identify security and safety vulnerabilities in enterprise AI systems and prevent them in real time, helping mitigate cybersecurity attacks and abuse. SydeLabs is look to do partnerships with large language model (LLM) operation providers to distribute its product. It is also working on tools to help enterprises achieving compliance for their AI applications across geographies. The firm plans to clock $1 million in annual recurring revenue (ARR) by the end of 2024. Early-stage venture capital firm RTP Global claims to have made over 110 investments worldwide. Its notable investments include Datadog, DeliveryHero, CRED and SumUp.

Related News

Snack brand Let’s Try raises $2.5 Mn led by SWC Global

EntrackrEntrackr · 2m ago
Snack brand Let’s Try raises $2.5 Mn led by SWC Global
Medial

Snack brand Let’s Try raises $2.5 Mn led by SWC Global Snack brand Let’s Try has raised $2.5 million in its latest funding round led by Singapore-based SWC Global. The existing investors are Wipro Consumer, 100Unicorns, Venture Catalysts, and boAt Lifestyle founder Aman Gupta. Prior to this, the company had secured $1.56 million from its existing investors. The proceeds will be channeled towards expanding distribution across Tier 1, 2, and 3 cities, strengthening its supply chain and backend operations, launching a diverse range of health-forward snacking options, and investing in digital and offline brand-building initiatives, Let’s Try said in a press release. Launched in 2021 by Nitin Kalra, Let’s Try aims to make delicious, high-quality snacks accessible to every Indian household. The brand offers a wide range of premium yet affordable snacks, including namkeens, wafers, cookies, cakes, and sweets, all made with top-quality ingredients. It was also featured on Shark Tank India. According to the Delhi-based company, it plans to introduce several new SKUs in modern trade and regional formats to appeal to a wider consumer base while deepening its presence across e-commerce platforms and D2C channels. As per market research, the snack market is estimated at Rs 50,000 crore, growing annually at 12%. In three years, Let’s Try claims that it has scaled its revenue from Rs 1 crore to Rs 120 crore in ARR and has set a target of crossing Rs 1,000 crore in revenue by 2028.

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