This more secure Dropbox for corporates just raised $500k

ParaBlu wants to keep your company secrets safe. Photo credit: Pixabay.

Kalaari Capital’s seed program Kstart has invested US$500,000 in cloud security startup ParaBlu, marking Kstart’s fourth investment ever.

ParaBlu, founded by Anand Prahlad and Ananda Rao Ladi in 2012, provides secure cloud storage opportunities for enterprises with a range of cloud data management applications. That can mean a reprieve from in-house storage portals as well as the added advantage of extra storage on the cloud.

Think of it as Dropbox, only oriented more toward enterprises, with security as its selling point.

Chosen as one of IBM SmartCamp’s 15 finalists, it went on to rank first in India’s southern region.

“ParaBlu was founded with the singular vision of being the security vendor of choice for all enterprise data outside the firewall,” said Anand in a statement.

Cloud security is a space where Indian startups have already set the bar high. Druva got its start in Pune in 2008 and relocated to California after exploding onto the corporate data scene. It launched its cloud data storage feature in 2012 and is currently the firm of choice for Fujitsu, Deloitte, and NASA.

Team Kstart

Early stage tech-focused venture firm Kalaari Capital has been around since 2006. It launched Kstart in February to give an extra boost to up-and-coming startups, offering a combination of capital and mentoring resources.

The program combines funding with mentorship and announced its first three picks in May: AI for customer services startup Active.ai; AffordPlan, which helps patients work out a pre-paid and flexible insurance plan with hospitals; and Indee, which helps filmmakers promote their films pre-release. Like ParaBlu, each startup received US$500,000.