Funds will be used for R&D and new products and offerings
Private equity firm Enam Securities has picked up a 15 per cent stake in Kolkata-based cyber-security firm, Vehere, for an undisclosed amount.
According to Praveen Jaiswal, Head-Business Development, Vehere Interactive, the funds will be used towards research and development and for new products and offerings in the field of cyber security.
“Enam has picked up a 15 per cent stake in Vehere and the funds received will be used to augment our R&D and develop products for cyber defence and communication intelligence,” Jaiswal said.
The company has around 12 products focussing on communication intelligence and cyber defence.
Vehere, a boot-strapped IT company, has been focussed primarily on communication intelligence with government projects being its major revenue churner. The company recently forayed into the field of cyber defence with a portfolio targeting private companies.
Instead of the more popular preventive solutions, the company specialises in network forensics, that is determining whether a cyber attack has actually happened or not; the data lost or the damage made; period of the attack and duration; and, ring fencing systems against future attacks.
Most takers for such network forensics include banks and infrastructure companies, including utility service providers.
Vehere has operations in India, Indonesia, Malaysia and the West Asian nations (Gulf Cooperation Council countries – Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain and Oman). It is also planning to start operations in the US.
“We have already registered the US company and operations there should start soon,” Jaiswal said.