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Cloud storage orchestration platform Lucidity has raised $5.3 million in a seed round led by AlphaWave Investments. Participants in the round also included Beenext, Blume Ventures, BoldCapital, NuVentures and Sparrow Capital. The funds raised will be used for the company’s expansion plans, accelerating the pace of international expansion and making the enterprise truly cloud-ready.
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“In the wake of the pandemic, businesses have flocked to the cloud to ensure business continuity. However, the vast majority of businesses have adopted a ‘data lift and shift’ approach to rapid migration. While this provides a quick solution, they are still struggling to realize their investment ROI Lucidity co-founder Nitin Bhadauria said: “With the click of a button, Lucidity unlocks the ROI of cloud storage. “
Lucidity aims to target global Fortune 500 companies through its services, especially those in the US market. According to a company statement, the Lucidity Autoscaler, which enables automated capacity planning and storage provisioning, is used with many Fortune 500 companies.
“Lucidity makes cloud storage management not only leaner and more reliable, but also improves cloud storage performance while saving a lot of money. We are impressed that this is not just a theoretical concept, but something fully demonstrated as adding now Proof of concept for clients of the Lucidity platform,” said Andrew C Martinez of Alpha Wave Global.
Founded in 2021 by Vatsal Rastogi and Nitin Bhaduria, Lucidity is an AI-enabled cloud storage software that makes multi-cloud storage economical, efficient and easy. Lucidity brings new technology innovations designed to bring the next paradigm shift in cloud infrastructure management.
