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.

Pexels

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.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Amazon Tells Thousands of Employees to Relocate or Resign

Amazon says the move to bring teams together will make them more "effective."

Growing a Business

How to Stop Overthinking and Start Moving Your Business Forward

Business success requires quick decision-making — not long, drawn-out consensus-building. The risk isn't as great as you think, so make a decision and get moving.

Business Solutions

This Windows 11 Pro Upgrade Is a No-Brainer at $15

Security, multitasking, and Copilot AI built in.

Business News

Tech Billionaire Announces Inheritance Plan for the More Than 100 Children He's Fathered

In an interview with French news magazine "Le Point," Telegram founder and billionaire Pavel Durov explained how he intends to dole out his fortune.

Business News

'Largest Data Breach in History': Apple, Google, and Meta Passwords Reportedly Among 16 Billion Stolen in Massive Hack

"Massive datasets" have been emerging every few weeks, according to a new report.