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Using Algorithms, Innefu Thwarts Virtual Threats

Delhi-based Innefu Labs develops biomet-rics authentication and predictive intelli-gence for govemments, public sector under-takings, corporate, and law-enforcement agencies. Based on machine-learning algorithms, these products can predict and thwart vir-tual threats and reduce dependency on humans.

Founded by Tarun Wig and Abhishek Sharma in 2011, the firm has raised $2 mil-lion in Series-A round from IndiaNivesh Venture Capital Fund. The company's clients include Defence Research and Development Organisation, Border Security Force, Central Reserve Police Force, and Mahindra and Mahindra. Drawing revenue from one-time licence fee and yearly maintenance, the company claims to be profitable so far.

In the next two years, it aims to net 15 clients in Southeast Asia for full-fledged deployment of its products. By doing so, it looks to gamer revenues worth t30 crore. Although it faces competition from Palantir, SAS, and IBM, the company also stares at a bigger pond, with the cyber secu-rity market estimated to grow from $122.45 billion in 2016 to $202.36 billion by 2021, at a compound annual growth rate of 10.6 per cent, according to a report by Markets and Markets.

"We are a completely 'Made in India' company, providing local solutions to our customers in India and abroad. We have the right blend of domain expertise with tech know-how to compete with the best in the world," said co-founder Abhishek Sharma. The company intends to invest in talent acquisition and in forays into Bangladesh and Sri Lanka.

Source by: http://www.business-standard.com/article/companies/using-algorithms-innefu-thwarts-virtual-threats-117050100028_1.html


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