India-based PrivaSapien has reportedly collected $1m in its seed round, which was led by Omidyar Network India.
The investment will allow PrivaSapien to enhance its product development and research initiatives, according to a report from Outlook Startu-Up. Funds will also be used to bolster its sales and marketing efforts in new countries.
PrivaSapien was founded by Abilash Soundararajan and Deepika Abilash. It offers privacy enhancing technology-based privacy risk assessment, mitigation and data collaboration
Clients can access the automated privacy risk assessment, which provides visibility of privacy issues, regulatory requirements and potential technical safeguards. Another of its solutions Is Event Horizon, which allows companies to anonymise data.
PrivaSapien CEO Abilash Sundarajan said, “With privacy regulations coming up across the world, there is a pressing need for privacy engineering solutions to unlock data from their silos and create value, without violating user privacy. We will be using the funds to ramp up our research and product development in this emerging field, along with accelerating our sales and marketing efforts in geographies with privacy regulations across the globe.”
In other CyberTech news, Hadrian, which offers real-time exposure management and automated security testing, received an investment from ABN AMRO Ventures.
As part of the investment, ABN AMRO will integrate the Hadrian technology into its platform.
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