Mayfield Fund backed Securens plans 2nd round of fund raising

Company offers e-surveillance for banks and ATM installations

Mayfield Fund-backed Securens, which offers e-surveillance for banks and ATMs, is planning to raise around Rs 30 crore. The company, which was founded by Sunil Udupa who claim to have brought the ATM machines to India, has said that it will look at neighbouring counties in a year or so.

Sunil Udupa, Managing Director, Securens Systems Pvt Ltd said that the company would look at raising the money from the existing investors and also open for other funds. Mayfield came on board a year by investing around Rs 15 crore in the company.

The fund raising is to support company's growth plan. So far the company has installed its system in around 2,000 ATMs and got order book for another 2,000 ATMs. The company currently clock a revenue of around Rs 1 crore a month.

Company's Active Deterrence offers solution to reduces crime and ATM damage by integrating the Alarm technology with CCTV systems thus enabling the use of Video verification and 2 - Way Voice to actively deter a crime there by ensuring that your assets are protected from an attempted burglary, said Udupa.

He added, currently there are about 1.50 lakh ATMs across the country and next year this number is expected to touch 3.50 lakh.

“This offers good opportunity for us as there is no competition for now,” said Udupa, who claims that in the last 6-7 months on an average there were 15 attempts by the burglars in ATMs, where the company's system is installed and prevent ratio was around 100%.

He added, in the next one year the company would look at entering into SAARC countries. Udupa claims that the e-surveillance will be one third of other modes, mainly human guards.