Treacle Raises ₹4 Crore in Pre-Seed Funding to Boost Cybersecurity Solutions

• ByStartupStory     |    May 10, 2024

Cybersecurity startup Treacle has successfully raised ₹4 crore in a pre-seed funding round. The investment, led by Inflection Point Ventures, marks a pivotal step for the company as it seeks to expand its footprint in the cybersecurity domain. Treacle specializes in Defensive Cyber Security with a focus on AI-based DeceptionTech solutions.

Founded by an experienced trio – Subhasis Mukhopadhyay (CEO), Subhajit Manna (CTO), and Partha Das (COO) – Treacle was incubated through the IHub program at FIRST, IIT Kanpur. The founders bring a rich mix of expertise to the table, combining decades of experience in cybersecurity and software development. Their diverse skills are central to Treacle’s mission of pioneering advanced cybersecurity solutions.

“Our mission centres on safeguarding network infrastructures through early detection, containment, and deception of threats,” stated Subhasis Mukhopadhyay, Co-Founder & CEO of Treacle. “We’re committed to delivering unparalleled value in the market, ensuring our clients have access to premium security solutions in an affordable manner. Our goal is to establish ourselves as a market leader and create sufficient value to make the cyber world a safer place within the next five to six years.”

Treacle’s cutting-edge technology is designed to detect attacks early, significantly enhancing the effectiveness of Security Operations Centres (SoC). The company’s AI-Based Deception Technology and Early Warning System are critical components that offer advanced protection by analyzing attacker behavior, diverting them into mirage networks, and issuing early warnings to SOC analysts.

Vikram Ramasubramanian, Partner at Inflection Point Ventures, emphasized the strengths of Treacle’s solutions, saying, “Treacle’s core strengths lie in our AI-based Deception Technology, a cornerstone of our Defensive Cyber Security solutions. By analyzing attacker behavior and diverting it into simulated networks, Treacle provides advanced protection.”

The funding will primarily be used for technical and business development, scaling marketing efforts, and expanding operations within the Indian market. Since its inception, Treacle has achieved notable milestones including securing significant grants such as the C3iHub Grant and the SISFS Grant, totaling INR 26 lakhs, in 2021 and 2022, respectively. Additionally, the company made its mark on the international stage by participating in the DPIIT delegation at Dubai Expo 2020 and clinching the DCIS 2023 Grant from the Department of Telecommunications, Government of India.

The global cybersecurity market is projected to reach $424.97 billion by 2030, growing at a compound annual growth rate of 13.8%. With the SAM expected to hit US$2.53 billion by 2023, and Cyber Solutions at US$1.26 billion, Treacle is strategically positioned to capitalize on this growing demand, aiming to enhance national security infrastructure for both private and government sectors.

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