TAC Security raises Pre-Series ‘A’ funding from Vijay Kedia
Vijay Kedia will join the board as a non-executive independent director in the company, with the aim of helping TAC to expand the business globally
Delhi: TAC InfoSec Pvt. Ltd., owned and operated TAC Security Solutions, a cyber-security solutions provider, raised an undisclosed amount in pre-series A round of funding from Vijay Kedia, the company said on Monday.
Kedia is the managing director of the financial services company Kedia Securities Pvt. Ltd and director of three-wheeler manufacturing company Atul Auto Ltd.
Pre-series A is an intermediate round between a seed and Series A round of investment.
Kedia will join the board as a non-executive independent director in the company, with the aim of helping TAC to expand the business globally, the company said. A non-executive director does not engage in the company’s management and operation but is involved in planning and strategy-making.
Earlier this month, TAC Security appointed Subinder Khurana, former vice president, Cognizant Technology Solutions India Pvt Ltd, on its board.
The funds raised will be used for research and development and expanding to overseas markets in Europe, the UAE and North America, said Trishneet Arora, founder TAC Securities, in response to an email.
“Mr.Kedia has built various big brands and his advice and mentoring will help us grow the company to the next level,” said Arora.
Founded in 2013, TAC Security helps enterprises identify weaknesses within their computer systems before any hacking activity takes place. The company provides network, application and web security to 57 organizations that includes Reliance Industries Ltd, Anyk, ICICI Bank Ltd, Gujarat Police and the Central Bureau of Investigation, among others. The company plans to add 500 Fortune companies to its clientele by next year. The company is targeting revenue of $2-3 million by next year, said Arora.
Editor's Picks »
- India’s renewable energy sector hits a milestone but loses speed
- All eyes now on share swap ratio in this mega bank merger
- Jet Privilege can actually get higher valuation than Jet Airways
- Profitability of cement firms to take a hit due to weak prices, high costs
- Pidilite’s shares hold their ground despite weak rupee and rising crude