App se­cu­rity firm Wegi­lant raises $500,000

The Pak Banker - - COMPANIES/BOSS -

BEN­GALURU: App se­cu­rity firm Wegi­lant Net So­lu­tions Pvt. Ltd has raised $500,000 to fund its tech­nol­ogy ex­pan­sion, re­search and de­vel­op­ment as well as cus­tomer ac­qui­si­tion ef­forts.

Founded in 2011 by Toshen­dra Sharma, the com­pany which was in­cu­bated in the So­ci­ety for In­no­va­tion and Entrepreneurship (SINE), In­dian In­sti­tute of Tech­nol­ogy Bom­bay, had raised $160,000 in De­cem­ber last year.

The cur­rent round of fund rais­ing was led by ex­ist­ing in­vestors in­clud­ing Ravi Gu­ru­raj, chair of IT in­dus­try body Nass­com's prod­uct coun­cil, Gau­rav Sharma, di­rec­tor Ya­hoo Inc., Viswanath Ramachandran, for­mer chief tech­nol­ogy of­fi­cer of Gup­Shup Tech­nol­ogy In­dia Pvt. Ltd, SINE-IIT Bom­bay Busi­ness In­cu­ba­tor, Rip­pleWave and a strate­gic in­vestor (an un­named large global IT se­cu­rity com­pany), the com­pany said in a state­ment on Thurs­day. Wegi­lant's flag­ship prod­uct Ap­pvigil looks for vul­ner­a­bil­i­ties and threats in mo­bile apps. "Pre­vi­ously, we were of­fer­ing app se­cu­rity so­lu­tions in the An­droid en­vi­ron­ment only and now as a nat­u­ral busi­ness ex­ten­sion, are ex­pand­ing to iOS and Win­dows op­er­at­ing sys­tems as well," Sharma said in a state­ment.

He added that the com­pany is de­vel­op­ing more se­cu­rity prod­ucts on the lines of Ap­pvigil. Gu­ru­raj said Wegi­lant is ad­dress­ing a grow­ing mar­ket in a time when se­cu­rity breaches have be­come reg­u­lar oc­cur­rences. The Gur­gaon-based com­pany is look­ing to set up of­fices across other ma­jor cities in In­dia. Wegi­lant said the com­pany was on a hir­ing spree and had al­ready dou­bled its head­count from 11 to 22.

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