Astra Security, a SaaS-based cybersecurity platform, has raised $2.7 million (approximately ₹23.5 crore) in a funding round led by Emergent Ventures. Other investors, including Neon Fund, Blume Ventures, and PointOne Capital, also participated in the round.
The New Delhi-based startup aims to use the funds to enhance its AI-driven technology, expand its product offerings, and hire new teams in the US region, according to Shikhil Sharma, founder and CEO of Astra Security.
Product Expansion and Focus on AI Solutions
Sharma noted that the fresh capital would help Astra Security strengthen its cloud security services. The company is focused on building AI-driven solutions to assist developers and engineers in detecting and mitigating cybersecurity vulnerabilities.
“The new capital will help the organisation expand into the US market, where we plan to hire new teams and broaden our offerings in cloud security,” Sharma said in a statement.
Founded in 2018 by Shikhil Sharma and Ananda Krishna, Astra Security provides continuous and scalable penetration testing (pentesting) to simulate cyberattacks, enabling its clients to identify security threats in web applications, APIs, and network systems. The startup claims to have conducted over 3,000 security tests and identified more than 2 million vulnerabilities globally.
Client Base and Competitive Landscape
Astra Security caters to sectors such as healthcare, BFSI, and fintech, with 45% of its clients based in the United States. Some of its notable clients include Mamaearth, Dream11, and Muthoot Finance.
In the Indian market, Astra faces competition from players like TAC Security, while on the global stage, competitors include Pentera and Traceable AI.
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Market Developments in Cybersecurity
The funding for Astra Security comes amid a surge of activity in India’s cybersecurity sector. Companies like TAC Security and WhizHack have been expanding aggressively. TAC Security is in talks to acquire Greece-based Web3 security firm CyberScope, aiming to add $1.2 million in revenue. It has also established a UK-based subsidiary to expand operations across Europe.
Meanwhile, WhizHack raised $3 million in a Pre-Series A round last year and is planning to raise more funds in 2025 to expand into North America and Europe.
According to a CloudSEK report, India ranked as the second most targeted nation for cyberattacks in 2024, with 95 Indian entities suffering data theft attacks. This heightened threat landscape underscores the growing demand for cybersecurity solutions across sectors.
With its latest funding, Astra Security aims to strengthen its position as a leader in the cybersecurity space, providing advanced AI-driven protection to its clients worldwide.
