Berkeley: Kapalya, an enterprise-grade cybersecurity startup, has closed a seed funding round led by Caltrop Holdings LLC, a global holdings company headquartered in Irvine, California, USA.
Funds from this round will be used to enhance further Kapalya’s existing Encryption Management Platform (EMP) and to step up its efforts in sales and marketing in North America, the Middle East, and Africa.
For many organizations, the COVID-19 pandemic has mandated their employees to work remotely, making them more vulnerable to cyber-attacks and ransomware breaches. This puts their data and file-sharing at risk and brings about the need for end-to-end encryption, across multiple platforms, within the entire organization.
“We are extremely pleased to partner with Caltrop. Through their existing sales channels, we will access new markets and bring our solutions to the Middle East, Europe, and Africa. This investment shows Caltrop’s commitment and endorsement of Kapalya’s innovative encryption solutions,” said Sudesh Kumar, Founder, and CEO of Kapalya.
“We are very excited to make this investment in Kapalya. There is definitely a need for futuristic multi-platform next-generation solutions in the market as cyber criminals continue to launch more sophisticated and targeted attacks to infiltrate employee and corporate data. I am absolutely convinced that Kapalya’s solution easily fills that need,” said David Saber, Caltrop’s CEO.
Kapalya graduated from ICE71 Accelerate, a three-month accelerator program for early-stage cybersecurity start-ups, in June 2020. ICE71 is co-founded by Singtel Innov8, the Singtel Group’s venture capital arm, and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS).