Lucidity makes cloud storage smarter by securing $5.3 million funding round

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Bengaluru, India

–Direct News–

Nearly half of companies migrate their data to the cloud to create competitive advantage and stay innovative. However, the cloud comes with its own set of challenges if not managed well. And to deliver the elusive cloud ROI, the cloud storage orchestration platform Lucidity has helped companies become truly cloud native. The startup today announces a $5.3 million seed funding round led by AlphaWave Investments with participation from Beenext, Blume Ventures, BoldCapital, NuVentures and Sparrow Capital to help accelerate its international expansion plans. This funding round follows a $500,000 pre-seed round led by Beenext in 2021 with over 10 Super Angels.

Lucidity has built a “NoOps” orchestration layer that can sit on top of cloud storage, making storage faster, efficient, and cheaper, while enabling cloud-native functionality. With Lucidity, companies will be able to unlock their block storage capabilities, making it 70% cheaper and 10x faster, with no code changes and just one click. Lucidity takes care of all the hassle of provisioning storage and eliminates any potential downtime that could lead to loss of business and reputation.

Lucidity was dreamed up by Vatsal Rastogi, who had extensive experience as a developer at Azure, Microsoft, and later working closely with Swiggy’s infrastructure team. He teamed up with Nitin Bhaduria, who spearheaded the growth of multiple SaaS platforms from scratch, with his final role as Head of Sales at Tracxn. Together they created the company in 2021, as the duo brought Lucidity to life.

Lucidity Founders: Vatsal Rastogi and Nitin Bhadauria

Nitin Bhadauria, co-founder of Luciditycommented: “Post-pandemic, enterprises have overwhelmingly turned to the cloud to ensure business continuity. However, the vast majority have resorted to a ‘lift & shift of data’ approach for rapid migration. Well that provided a quick fix, they remain elusive of the ROI promised by cloud providers.Lucidity unleashes cloud storage ROI with the click of a button.

“70% of storage costs are wasted today due to manual cloud management and downtime risks. And to add to this challenge, the skill curve required to adopt a cloud-first culture with teams is becoming an additional barrier. Awareness solves these problems and much more”.

Dirk van Quaquebeke, Managing Partner at BeeNextcommented: “Awareness sits at the interesting intersection of what I call the transitional cloud where large enterprises are moving from on-premises to cloud and there is a lot of room to capture value. Awareness builds something something that will have a GTM fits very well in an extremely large and global market. We are very reassured by the way Lucidity identifies and translates its problem statement alongside its customers.”

Andrew C. Martinez, Alpha Global Wavesaid, “Clearness not only makes cloud storage management easier and more reliable, but also increases cloud storage performance while saving a significant amount of money. What was most impressive for us is that it wasn’t just a theoretical concept, but rather something on full display as a proof of concept with customers now integrating on the Lucidity platform”

About lucidity

Lucidity is the most trusted software-defined storage NoOps orchestrator. It unlocks bulk cloud storage capabilities, making cloud storage reliable, high-performance, and cost-effective without any effort.

With its industry-first multi-cloud “Auto-Scaler,” Lucidity helps enterprises, DevOps and FinOps teams instantly watch their block storage become 70% cheaper, 10x faster, and eliminate downtime shutdown without any code changes. Lucidity enables cloud optimization even for your legacy applications because infra-ops teams can now unlock cloud-native functionality for block storage applications without any code changes.

CIOs, VPs of Infrastructure, CIOs, and CIOs have all trusted Lucidity to prepare for the cloud and embraced the NoOps cloud experience. If you also want to be part of the NoOps cloud experience, visit us at www.lucidity.cloud

Contact details

Lucidity

Bilal Mahmoud

+44 7714 007257

[email protected]

Company Website

https://www.lucidity.cloud/

See the source version on newsdirect.com: https://newsdirect.com/news/lucidity-makes-cloud-storage-smarter-as-it-secures-5-3m-funding-round-572374063

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