Indian startup Lucidity, a cloud storage management platform that automates block storage optimisation across AWS, Azure, and Google Cloud, raised $21m (Rs1.8bn) in its Series A funding round led by WestBridge Capital.
The round also saw participation from existing investor Alpha Wave, bringing Lucidity’s total funding to $31m.
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WestBridge Capital partners Rishit Desai said: “The need for cloud storage resources is growing with ongoing advances in AI and a simultaneous need to reduce overall cloud spend. Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure across AWS, Azure, and Google Cloud.
“Lucidity’s unparalleled platform increases storage efficiency and significantly reduces costs for customers of all sizes. We are thrilled to back Nitin, Vatsal, and the Lucidity team in this next chapter of growth.”
Lucidity plans to use this capital infusion to bolster its offering in the cloud storage management sector.
The company’s technology enables enterprises to optimise cloud storage by automatically expanding or shrinking block storage volumes in real-time.
The platform, which requires no changes to existing application code, helps IT and DevOps teams reduce cloud storage costs by up to 70% while streamlining operations.
The Indian startup said it has experienced 400% annual growth through innovations in automating and optimising cloud block storage since its inception in 2021.
The funding will support Lucidity’s expansion efforts and continued development of its platform to address enterprise cloud storage challenges.
Lucidity cofounder Nitin Bhadauria said: “Many enterprises struggle with properly managing their cloud storage, as it’s a challenging area to solve that hasn’t received proper attention until now.
“Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimise their block storage in real-time across all three major cloud providers while significantly reducing costs.”
In November 2024, Lucidity secured $5.3m in a seed round which was led by AlphaWave Investments.
The funding round was supported by Beenext with participation from other investors such as BoldCapital, Blume, NuVentures and Sparrow Capital.
