November 21, 2018

SAIF Partners, Axilor invest USD 3.3 million in IoT security startup DeTect

The investment seeks to expand DeTect’s global presence and focus on its core R&D to boost their products GUMPS and NOCTUA.

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iot security startup

IoT security startup DeTect Technologies have raised USD 3.3 million from SAIF Partners, Axilor Ventures, BlueHill Capital and a few other angel investors. With this investment, DeTect seeks to expand its global presence and focus on the R&D (Research and Development) of their drone product NOCTUA and monitoring and risk analysis solution GUMPS.

According to DeTect, enterprises leveraging IoT need to secure their IT environments since the number of cyber attacks is on the rise. They claim that these enterprises face multiple threats when it comes to online security while they expand their presence across the globe.

By investing USD 3.3 million, IoT security startup DeTect say that they will be focusing on strengthening their products NOCTUA and GUMPS. They also say that this product fortification will allow them to easily explore global markets and cater to the specific needs of enterprises.

Speaking about the products, the IoT security startup said that:

1. NOCTUA is a drone that conducts an automated and thermal inspection of industrial infrastructure whereas,

2. GUMPS is a sensor that is used to monitor pipe thickness change in real time by leveraging ML.

Daniel Raj David co-founder and CEO at DeTect believes that developing an association with SAIF would not only assist them with an extended capital base but will also push the organization’s desire to take into account oil and gas organizations worldwide. They say that their current team which stands at 80 will be scaled to 140-150 in a matter of months and be utilised for the  U.S., U.K., Portugal and Singapore markets.

Industry analysts say that DeTect’s current customers are quite happy with the results given by the IoT security startup since their solutions detect anomalies within the environments quickly. It will be interesting to see how DeTect makes the most of this investment and provides solutions to markets worldwide, following In-Q-Tel’s investment in StackRox to boost cloud security.

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