Bengaluru-based cyber resilience startup Mitigata has raised USD 5.9 million (~INR 51.81 crore) in a Series A round led by Nexus Venture Partners with participation from existing investors Titan Capital and WEH Ventures.
Founded in 2021 by Mohit Anand (CEO), Sarthak Dubey (COO), Mayank Morya (CTO) and Akshit Kaushik (CBO), Mitigata offers a full-stack cyber resilience platform that combines cybersecurity, compliance, risk management and cyber insurance into one AI-powered solution.
Mitigata is India’s first IRDAI-regulated insurance broker dedicated to cyber insurance. Today, Mitigata works with over 500 enterprises across 25+ industries, offering services across the entire cyber risk lifecycle — from prevention and mitigation to incident response and insurance-backed risk transfer.
Strategic Use of Capital
With the fresh infusion, Mitigata plans to:
- Set up three global Security Operations Centres (SOCs) in Bengaluru, Mumbai, and Delhi to be hubs for AI-driven threat detection, incident response and managed security services.
- Enhance its proprietary AI-driven tools, RELIQ, a cyber risk quantification engine and AI underwriting engine that uses real-time threat intelligence to structure and price cyber insurance.
- Expand hiring across security, insurance, and compliance functions to support both domestic and selective global market expansion.
- Deepen R&D in AI-powered cyber resilience capabilities.
Closing the Gap in India’s Cybersecurity Landscape
In an environment where Indian enterprises are rapidly digitising, cyber threats have grown more sophisticated and costly. Many organisations still treat cybersecurity and cyber insurance as separate cost centres, relying on fragmented vendors and siloed solutions.
Mitigata’s approach aims to close this gap with an integrated “security plus insurance” model tailored to the needs of Indian businesses. The platform’s offerings include:
- Attack surface and dark web monitoring
- Threat intelligence and phishing simulations
- 24/7 SOC monitoring and managed detection
- Governance, risk, and compliance (GRC) automation tools
- Incident response, penetration testing, and digital forensics
- Automated AI-powered underwriting for cyber insurance
Investor Confidence in an Integrated Approach
“Most businesses still treat cyber insurance and security as separate cost centres. We’ve reimagined and Indianised the model — delivering integrated, high-impact cyber resilience tailored to Indian organisations,” said Mohit Anand, Co-founder and CEO of Mitigata.
Anand Datta, Partner at Nexus Venture Partners, echoed this vision:
“We believe the future of cybersecurity and insurance is an integrated, full-stack approach. Mitigata is pioneering a new AI-led services model that covers the entire lifecycle — from prevention and mitigation to risk transfer via insurance. Their model is precisely what Indian enterprises need to thrive securely.”
Unique Market Position
As India’s first IRDAI-licensed broker focused on cyber insurance, Mitigata has a unique advantage in the insurtech-cybersecurity space. Partnerships with leading insurers — HDFC ERGO, ICICI Lombard, TATA AIG, Bajaj Allianz, and New India Assurance — enable it to offer liability coverage along with proactive security measures.
As cyber attacks evolve, Mitigata’s AI-first, integrated cyber resilience model makes it a shield and a safety net for organisations navigating the digital economy. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.