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Mridul Das
Introvert!ย โขย 1m
Here everything you must know about a star๐ Bangalore based startup Lucidity, ๐ they claim to be the worldโs only multi-cloud storage management platform, and recently they have raised $21๐ต million in a Series A funding round led by WestBridge Capital with participation from existing investor Alpha Wave. The company plans to use the new funds to expand its go-to-market team and further develop its platform to tackle the cloud storage management challenges faced by enterprises worldwide. โMany enterprises struggle with properly managing their cloud storage, as itโs a challenging area to solve that hasnโt received proper attention until now,โ said Nitin Bhadauria, cofounder of Lucidity Founded in 2021 by Bhadauria and Vatsal Rastogi, Lucidity automates the real-time expansion and shrinking of block storage volumes based on data demands. According to the company, this capability can reduce cloud storage costs by as much as 70% for global๐ enterprises.๐ณ Lucidityโs platform is compatible with major cloud service providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, enabling IT and DevOps teams focused on optimising cloud storage. Their funding history ๐ This funding round follows a seed round follow-on by Beenext in June 2024, bringing Lucidityโs total funding to $31๐ต million. The company had raised $5.3๐ต million in a seed round in 2022, from Alpha Wave. Beenext, Blume Ventures, BoldCapital, NuVentures, and Sparrow Capital, also participated in that round.
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