Latest news with #PrayankSwaroop
Time of India
6 days ago
- Business
- Time of India
India can build next cybersecurity giants: Accel's Prayank Swaroop
India is at the early stages of a cybersecurity boom, with strong potential to produce global leaders, says Accel partner Prayank Swaroop. Despite over 1,400 startups, only a few are funded or listed. With AI reshaping security, Accel urged Indian founders to seize this $377 billion global opportunity. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India is in the early innings of a cybersecurity breakout, and this moment could define the next generation of global security companies , according to Prayank Swaroop , partner at Accel Speaking to PTI at Accel's Cybersecurity Summit in Bengaluru, Swaroop issued a clear call to action for Indian founders."India has over 1,400 cybersecurity startups , but only 235 have been funded, and just six have gone public. We're barely scratching the surface," he this is a $377 billion opportunity over the next three years, he said adding: "Indian founders have a real shot at building for that".Accel, one of the earliest investors in CrowdStrike, now valued at over $116 billion, sees familiar patterns emerging."We backed CrowdStrike when it had under $5 million in revenue. We led three rounds before its IPO. Great cybersecurity companies take time, but when they land, they reshape the industry," Swaroop traditional segments like network and identity security continue to grow at 12-24 per cent CAGR (compounded annual growth rate), Swaroop believes GenAI will define the next wave."AI is rewriting the playbook. It's blurring identity, scaling social engineering, and overwhelming SecOps. This is not an incremental shift. It's foundational," he pointed to fast-emerging opportunities in deepfake detection , GenAI copilots for SOC ( security operations centre ) teams, and new frameworks for digital identity."These aren't edge cases. They're becoming core workflows. Founders who build with speed and depth of insight will have an edge," he only 17 cybersecurity acquisitions in India to date, Swaroop's message is clear: "This is India's moment to lead in global security. The ambition is here. The timing is right."Among the largest industry gatherings in India dedicated solely to cybersecurity, Accel's summit served as a platform for knowledge exchange, ecosystem building, and cross-border underscored India's growing relevance in the global cybersecurity value chain and reinforced Accel's commitment to supporting bold, globally ambitious founders shaping the next generation of security innovation.
News18
6 days ago
- Business
- News18
India can build next cybersecurity giants: Accels Prayank Swaroop
New Delhi, Aug 2 (PTI) India is in the early innings of a cybersecurity breakout, and this moment could define the next generation of global security companies, according to Prayank Swaroop, Partner at Accel. Speaking to PTI at Accel's Cybersecurity Summit in Bengaluru, Swaroop issued a clear call to action for Indian founders. 'India has over 1,400 cybersecurity startups, but only 235 have been funded, and just six have gone public. We're barely scratching the surface," he said. Globally, this is a USD 377 billion opportunity over the next three years, he said adding: 'Indian founders have a real shot at building for that". Accel, one of the earliest investors in CrowdStrike, now valued at over USD 116 billion, sees familiar patterns emerging. 'We backed CrowdStrike when it had under USD 5 million in revenue. We led three rounds before its IPO. Great cybersecurity companies take time, but when they land, they reshape the industry," Swaroop noted. While traditional segments like network and identity security continue to grow at 12-24 per cent CAGR (compounded annual growth rate), Swaroop believes GenAI will define the next wave. 'AI is rewriting the playbook. It's blurring identity, scaling social engineering, and overwhelming SecOps. This is not an incremental shift. It's foundational," he said. 'These aren't edge cases. They're becoming core workflows. Founders who build with speed and depth of insight will have an edge," he observed. With only 17 cybersecurity acquisitions in India to date, Swaroop's message is clear: 'This is India's moment to lead in global security. The ambition is here. The timing is right." Among the largest industry gatherings in India dedicated solely to cybersecurity, Accel's summit served as a platform for knowledge exchange, ecosystem building, and cross-border collaboration. It underscored India's growing relevance in the global cybersecurity value chain and reinforced Accel's commitment to supporting bold, globally ambitious founders shaping the next generation of security innovation. PTI MBI ANU ANU view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
&w=3840&q=100)
Business Standard
30-07-2025
- Business
- Business Standard
India bets on AI to build first $10 bn cybersecurity firm by 2030
Accel-backed Indian startups are using AI-first innovation to take on global rivals in cybersecurity as the country aims to create a $10 billion firm within five years Peerzada Abrar Bengaluru Listen to This Article India aims to build its first $10 billion cybersecurity company in the next few years, betting that artificial intelligence (AI) will help homegrown startups leapfrog established American and Israeli rivals rather than copy their playbooks. The strategy is already showing results, with former security executives from Indian tech giants launching AI-powered startups that are winning contracts against well-funded US competitors, according to Prayank Swaroop, a partner at venture capital firm Accel.
Time of India
24-07-2025
- Business
- Time of India
Experts dive into VC ecosystem, spotlighting investor sentiments amid Indian startup resurgence
At the revamped ET Soonicorns Summit 2024 in Bengaluru, top venture capitalists discussed the resurgence of India's startup ecosystem. With the funding winter in the past, panellists noted a renewed investor confidence, early-stage funding revival, and $100 million deals returning, as part of a panel titled 'Surge in Investor Interest: Vision and Outlook of the Indian VC Ecosystem Beyond Hype and Uncertainty'. Amit Somani, Managing Partner at Prime Ventures, highlighted the growing talent pool, while Prayank Swaroop, Partner at Accel, stressed India's rising consumption power and potential to build large, profitable businesses. Ritesh Banglani, Partner at Stellaris Venture Partners, described the current ecosystem as a 'happy median place' poised for sustainable growth. Kanika Mayar of Vertex Ventures and Anand Datta from Nexus Venture Partners also indicated global investors' increasing comfort with Indian startups and India's unique position as a fast-growing, digital-first economy. This panel was moderated by Manu P Toms, Senior Editor, Economic more cutting-edge insights, watch the full discussion. Show more Show less
&w=3840&q=100)
Business Standard
23-07-2025
- Business
- Business Standard
AI-first startups challenge India's $300 billion IT services giants
When Atomicwork raised $25 million in January, the startup wasn't just another software company seeking venture capital. The Bengaluru-and San Francisco-based firm uses artificial intelligence agents that can autonomously handle everyday IT services. The funding round, led by Khosla Ventures and backed by more than 40 global chief information officers, reflects a broader shift that is quietly reshaping the IT services industry. A new wave of AI-native startups — companies built from the ground up with artificial intelligence at their core — are challenging traditional players in the $300-billion IT-BPM industry. AI-native startups are fundamentally different — they don't just use AI as a helping tool; instead, it is at the core of their product, business model, and customer offering. Their solutions are deeply rooted in technologies like machine learning, natural language processing, computer vision, and generative AI, making them truly 'AI-first' in their approach. 'This is the AI innovation that large organisations need to radically transform how they work,' Kanu Gulati of Khosla Ventures said after investing in Atomicwork. For example, global businesses like Zuora and Pepper Money use Atomicwork to empower their teams with seamless service, intelligent automation, and actionable insights. This is driving productivity and transforming their digital workplace experience. Venture capital firm Accel is backing 'Enterprise AI'-platforms that enable enterprise AI use cases using agentic technologies, large language models (LLMs), and small language models (SLMs). Another focus is 'services-as-software' - the other end of software-as-a-service - where AI startups leverage India's large IT services capabilities to provide better automation offerings. Additionally, 'vertical AI' focuses on startups tapping into India's AI talent pool to integrate AI into vertical-specific use cases. Creating new business models 'AI is making software development and service delivery asymmetric—speeding up innovation cycles and allowing lean teams to deliver enterprise-grade outcomes,' said Prayank Swaroop, partner at Accel. He said that India's edge lies not just in its engineering depth or cost advantage, but in its access to domain-specific datasets and its ability to reimagine workflows in sectors like healthcare, financial services, and legal operations. Accel has backed a pair of AI startups aiming to reshape enterprise workflows. Nanonets, which uses AI to automate back-office tasks involving unstructured data, raised $29 million last year to improve accuracy and scale. Ema, which emerged from stealth last year, launched a Universal AI Employee designed to handle complex cross-domain tasks with high reliability. The company raised $25 million from investors including Accel, Section 32, and Prosus Ventures. Nurix AI, a startup founded in 2024 by serial entrepreneur Mukesh Bansal, is developing enterprise-focused AI agents with human-like voice and reasoning capabilities. Backed by $27.5 million in seed and Series A funding from Accel and General Catalyst, the company aims to automate a wide range of business tasks, boosting productivity and transforming customer engagement. 'AI-native startups are not merely integrating AI into existing workflows, they are fundamentally reimagining how services are delivered, creating an entirely new operating model,' said Rishit Desai, partner, WestBridge Capital. Shedding old habits He noted that these startups are more agile and aren't burdened with legacy processes and tools compared to some of the larger and more established organizations. Also, this fresh, ground-up approach allows them to innovate rapidly and deliver superior customer experiences with speed at scale. 'We're an outcomes-first company. At Mintoak, AI is a tool to drive faster decisions, leaner operations and smarter execution,' said Raman Khanduja, chief executive and co-founder, Mintoak, which provides digital payments solutions to small businesses. For structuring deals, venture capital investors are placing greater emphasis on early margins for AI-first businesses due to their service-oriented nature. They are also focused on profitability and operational efficiency as companies scale. 'We're seeing a growing wave of entrepreneurs emerging from the senior ranks of legacy IT players, and we're excited to partner with the most promising among them at the seed stage,' said Nithin Kaimal, chief operating officer, Bessemer Venture Partners in India. He believes that incumbents in IT services — particularly BPOs — are poised for significant disruption by AI-first challengers. He said these AI-native companies are typically more responsive to customer needs, offer superior outcomes, and operate with outcome- or transaction-based pricing models, in contrast to the FTE (full time equivalent) based structures used by traditional players. Gopal Jain, chief executive and managing director, Gaja Capital, said AI-first IT services are built on automation, not scale: lean teams powered by software accelerators and reusable models deliver faster, cheaper, and smarter outcomes. 'We see significant opportunity for AI-first IT services companies who will integrate AI models and products into their core offering and build on their deep domain expertise and customer relationships to deliver value,' said Jain. He said talent arbitrage still matters, but the focus is shifting to high-value, globally deployable software talent. One of Gaja Capital's portfolio companies is Amber, a marketplace for students to book accommodation. They have adopted AI to significantly increase productivity of their customer success teams and increased the share of STP (straight through processing) from 30 per cent to 70 per cent within 2 years. They are also prototyping a ChatGPT like interface to help students select and book accommodation. Such firms are now competing globally on product strength. Several Gaja Capital portfolio companies are pursuing international expansion, with the US remaining a key market for firms such as LeadSquared, Signzy, and Amber. Others, like Fractal, already have a strong US presence. The Middle East and North Africa (MENA) region is also gaining traction. Incumbents rethink models This surge in AI-first competition is now forcing established IT giants to reconsider their traditional business models. This was summarised by Abhishek Singh, additional secretary at the ministry of electronics and information technology (MeitY), recently at an event where he said that the country's legacy IT giants are unlikely to remain on the sidelines for long. 'Given the capability that our IT industry has and what we are hearing about Infosys and TCS, all of them are working on AI-based applications,' Singh said at the Accel AI Summit, 2025 in Bengaluru. 'There will be a need for doing this and enhancing their capabilities.' Infosys and TCS have both begun ramping up investments in high-performance computing infrastructure, including Graphics Processing Units (GPUs), while simultaneously retraining thousands of employees in AI-related skills. Singh noted that these companies are already supporting global clients with AI-driven applications, and it's only a matter of time before they begin to roll out proprietary AI products and platforms. 'Otherwise for them to survive without AI, it will be very difficult,' cautioned Singh.
