In a significant development for the Indian startup ecosystem, Deep Algorithm, a Hyderabad-based AI and cybersecurity startup, has successfully raised $1.3 million in a seed funding round. The investment, led by Unicorn India Ventures, marks a pivotal moment for the company as it aims to revolutionize fraud prevention in digital financial ecosystems.
Founded in December 2021 by JP Mishra, Deep Algorithm specializes in advanced fraud detection technologies. Its flagship products, adapIDAI and BotShield, leverage adaptive behavioral intelligence and real-time application security to combat sophisticated cyber threats like zero-day attacks and DDoS mitigation.
The freshly secured funds, amounting to approximately ₹10.8 crore, will be utilized to scale the company's engineering and threat intelligence teams. Additionally, the capital will support accelerated go-to-market strategies in India and Southeast Asia, enhancing Deep Algorithm's regional footprint.
Deep Algorithm also plans to expand integrations with major enterprise platforms such as Azure AD and Okta. This move is expected to strengthen its offerings, providing seamless solutions for businesses looking to safeguard their digital transactions and user identities.
Commenting on the funding, JP Mishra, Founder and CEO of Deep Algorithm, expressed optimism about the company's future. He highlighted the importance of enhancing behavioral AI and fraud analytics engines to stay ahead of evolving cyber threats in the rapidly digitizing financial sector.
This seed round not only underscores investor confidence in Deep Algorithm's innovative approach but also signals growing interest in AI-driven cybersecurity solutions. As digital transactions continue to surge, startups like Deep Algorithm are poised to play a critical role in securing the future of finance.
Maria Lourdes
