Mitigata, a Bengaluru-based cyber resilience platform and insurance broker, has raised US$5.9 million in a series A round led by Nexus Venture Partners, with participation from Titan Capital and WEH Ventures.

Founded by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, Mitigata provides cybersecurity, compliance, and cyber insurance services to over 500 enterprises across more than 25 industries in India.

The company plans to use the new funding to develop its AI-powered security and risk management platform, expand its services, and scale operations in Indian cities and international markets.

Mitigata will establish three security operations centers in Bengaluru, Mumbai, and Delhi to support its threat detection and incident response capabilities.

The company partners with major insurance firms including HDFC ERGO, ICICI Lombard, TATA AIG, Bajaj Allianz, and New India Assurance to provide cyber insurance aligned with real-time risk assessment.

Mitigata employs a team with experience in cybersecurity, insurance, and risk management, and is regulated by the Insurance Regulatory and Development Authority of India.

🔗 Source: Nexus Venture Partners

🧠 Food for thought

1️⃣ Mitigata’s funding arrives as India faces mounting cyber threats and ambitious market targets

India’s cybersecurity landscape presents both significant challenges and enormous opportunities for companies like Mitigata.

The country ranked second globally for cyber attacks between 2016-2018, with 53% of these attacks causing financial losses exceeding $500,000 1. Additionally, data breaches in India rose by 7.9% since 2017, with major incidents affecting sectors like banking systems and healthcare records containing 68 lakh patient records 1.

NASSCOM projects India’s cybersecurity market will reach $35 billion by 2025, requiring a skilled workforce of one million professionals 2. The government has responded with stricter regulations, including mandatory incident reporting to CERT-In within six hours 3.

This regulatory and threat environment creates substantial demand for comprehensive cybersecurity solutions, positioning Mitigata’s $5.9 million raise to capitalize on a market experiencing both urgent need and significant growth projections.

2️⃣ The integrated security-insurance model addresses a fragmented vendor problem

Mitigata’s approach of combining cybersecurity services with insurance brokerage targets a specific pain point in how organizations manage cyber risk.

Traditional cybersecurity setups often involve multiple vendors for different functions, such as monitoring, incident response, compliance, and insurance coverage. This fragmentation can create gaps in protection and complicate response during actual incidents.