Get All Access for $5/mo

Lucidity Raises $5.3 Million In Seed Funding The fund raised will be used for company's extension plans, accelerating efforts towards international expansion and making enterprises truly cloud-ready

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Lucidity, a Cloud storage orchestration platform, has raised $5.3 million in a Seed funding round, led by AlphaWave Investments. The round also saw participation from Beenext, Blume Ventures, BoldCapital, NuVentures and Sparrow Capital. The fund raised will be used for company's extension plans, accelerating efforts towards international expansion and making enterprises truly cloud-ready.

"Post the pandemic, businesses flocked aggressively to the cloud to ensure business continuity. However, the vast majority resorted to a 'lift and shift of data' approach for a quick migration. Whilst this provided a quick fix, they remain elusive of the ROI promised by cloud vendors. Lucidity is unlocking the ROI of cloud storage at a click of a button," said Nitin Bhadauria, co-founder, Lucidity.

Lucidity aims to target Fortune 500 companies globally with its services, especially those in the US market. The Lucidity Autoscaler, which enables automated capacity planning and storage provisioning, is live with a number of Fortune 500 companies, as per company statement.

"Lucidity makes cloud storage management, not only more streamlined and reliable, but also increases cloud storage performance while saving a significant amount of money. What was more impressive for us is that this was not just a theoretical concept, but rather something on full display as proof of concepts with customers who are now onboarding on the Lucidity platform," said Andrew C Martinez, Alpha Wave Global.

Founded in 2021 by Vatsal Rastogi and Nitin Bhaduria, Lucidity is an AI-enabled software for cloud storage which makes the multi-cloud storage economical, performant and effortless. Lucidity is bringing new technology innovations that are aimed to bring the next paradigm shift to cloud infrastructure management.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

5 SEO Hacks to Help You Rank Fast

Discover the best SEO hacks you can use to rank fast and avoid waiting for months to see results.


How His Personal Battle With Cancer Inspired This Founder's Solution for Patient Care

On this episode of "The Founder CEO," Michael O'Neil, founder and CEO of GetWellNetwork, discusses his inspiring journey as a leader and the transformative role of AI in healthcare.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Data & Recovery

Get $60 off This Portable VPN Travel Router

Why keep paying for a VPN service when you can have a tiny, lightweight piece of hardware that can provide you with a lifetime of maximum VPN protection?

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.