SAWO Labs Pvt Ltd raises Rs 5.5 crore in a seed fundraising round
SAWO Labs Pvt Ltd, an authentication-focussed startup, has raised Rs 5.5 crore (about $746,000) in a seed fundraising round.
StartupXseed has led the round in Thane-based SAWO Labs, a business-to-business early-stage investor whose other portfolio companies include Bellatrix Aerospace and Steradian Semi.
Prabhat Sahu set up SAWO Labs. The company’s first name is an acronym for ‘Secure Authentication Without OTP.’ Its platform leverages protocols such as Secured Sockets Layer of Mongo DB and Fast Identity Online to simplify user verification processes across different channels.
It will use the capital it has raised to strengthen its product portfolio and develop indigenous tools for use cases such as consumer onboarding. It will also enhance its cloud infrastructure and build out its team and increase marketing outreach.
