Latest News | IT Startup Nirmata Raises USD 4 Mn in Funding Led by Z5 Capital
Get latest articles and stories on Latest News at LatestLY. IT startup Nirmata on Wednesday said it has raised USD 4 million (around Rs 30 crore) in a funding round led by Z5 Capital.
New Delhi, Aug 11 (PTI) IT startup Nirmata on Wednesday said it has raised USD 4 million (around Rs 30 crore) in a funding round led by Z5 Capital.
Uncorrelated Ventures, Samsung Next, Benhamou Global Ventures (BGV) and angel investors Saqib Syed and BV Jagadeesh also participated in the pre-series A funding round.
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"With this new investment, the company will scale its product and operations to support the Kyverno community and establish an engineering team in India as well as grow its sales and marketing to accelerate its adoption," Nirmata said in a statement.
Kubernetes Native Policy Management, Kyverno, is an open-source based system for automating computer application deployment, scaling them up as well as managing them.
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Since the beginning of 2021, the company claims that Kyverno's adoption quickly soared to over six million downloads, with a growing number of users including Novartis, The New York Times, Duke Energy, TriNet, Grofers and others. It is also used by open source projects like Flux, KubeArmor etc.
"We are at the cutting edge of this innovation and are thrilled to be working with our partners at Z5 Capital, Benhamou Global Ventures, Uncorrelated Ventures, Samsung Next and BV Jagadeesh, Saqib Syed to accelerate the execution of our vision," Nirmata chief executive officer Jim Bugwadia said.
Nirmata has 10 employees in the US and 7 in India.
"We are in the process of hiring the leadership team in India. Our plan is to more than double the team in India in the next six months," Bugwadia said.
He said establishing operations in India is critical for the business as India is home to the world's best software engineering talents.
"We have also seen very active engagement from developers in India in the Kyverno community validating our decision to expand our operations in India," Bugwadia said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)