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Wegilant, a mobile app security start-up, has raised $500,000 from existing investors in a pre-series A round.
The investors include Ravi Gururaj, Chairman, Nasscom Product Council; Gaurav Sharma, director, Yahoo; Viswanath Ramachandran, Ex-Gupshup CTO, SINE-IIT Bombay Business Incubator, RippleWave and a strategic investor (a large global IT Security company).
Toshendra Sharma, CEO, Wegilant said, “The funds will be used towards technology expansion, research and development and customer acquisition. Previously, we were offering app security solutions in the Android environment only and now as a natural business extension, are expanding to iOS & Windows operating systems as well.”
Last year, the company had raised $160,000 in angel funding.
The flagship product of Wegilant is Appvigil, which is a mobile protection suite for enterprises. Appvigil is based on global patent-pending technologies. It looks for security vulnerabilities and loopholes in mobile apps i.e. helps identify whether a mobile app is hackable or not.
App developers can integrate Appvigil in any app to resolve security issues at the development phase itself.
"Water tight security of your mobile device is no longer a luxury, it is an absolute necessity. News of security breaches are regular events which I expect will increase in frequency and severity. Every major brand has a customer facing mobile experience which they now need to ensure is secure for all their stakeholders. Wegilant addresses this critical growing market need with very innovative and robust products", said Ravi Gururaj, Chairman, Nasscom Product Council.
Founded in 2011 by Toshendra Sharma while he was a first year masters student in CSE department, IIT Bombay, the company got incubated in Society for Innovation and Entrepreneurship (SINE), IIT Bombay, in August 2014. Wegilant has also been nominated in the top 10 of Emerge 50 Award 2014- an award given by Nasscom.
The company has also set up an office in Gurgaon (Delhi NCR) apart from Mumbai to accelerate business expansion. Wegilant also intends to set up offices across other major cities in India. It has also doubled its team strength from 11 to 22 employees and is on a hiring spree.
