Securens, an e-security company which provides surveillance technology service, has raised more than $5 million in its latest funding round from existing investors Mayfield India and Trifecta Capital.
In this latest round of fundraising, Mayfield India has invested around $2.2 million (approx Rs 15 crores), while the company raised another $2.95 million (approx Rs 20 crore) in venture debt from Trifecta Capital.
With new funding coming in, the company plans to tap a new set of clients. It is also in talks with many gold loan outlets and has designed a customized solution for such businesses.
Rahul Khanna, managing partner at Trifecta Capital, said,
By combining video surveillance with analytics, the company has developed unique offerings for enterprise customers across verticals.
Prior to this funding round, the company had raised $4 million from Mayfield in the year 2012, which followed a new funding round in the year 2014, but the exact sum remains unknown.
The company was founded in 2011 by Sunil R. Udupa. It provides technology-based security solutions to its clients. The primary product of the firm is a surveillance offering called ActiDETER, which prevents crimes through the use of video verification and two-way audio.
Sunil says that the predominant form of security was previously guards, who were not very efficient and reliable, and also expensive. Further, the cost of guards continued to rise while that of the technology dropped year-on-year. He further added:
Burglary attacks are increasing by the day, encouraged by the utter lack of good security and surveillance systems. There is an urgent and critical need for technology that can replace guards.
He believes that the company is disrupting the status quo in the sector by bringing in a technology-based alternative that is more reliable and efficient than guards, at a fraction of the cost. Securens is also offering other products such as ActiHEALTH, which performs health checks of all existing cameras and digital video recorders and ActiHYGIENE, which checks adherence to standard operating procedures at all retail outlets.