Telecom Lead India: Ncubate Capital Partners has picked
up a significant minority stake in Nevis Networks (India), a provider of
network security solutions.
The Pune-based company will use the funds to finance
product development and operations expansion across the globe.
Ncubate is an early stage venture capital fund founded by
Rakesh Malhotra, founder and chairman of Luminous Power
Technologies.
Nevis designs, develops and markets innovative security
switching and appliance solutions. It has customers in India, USA, Canada, UK
and China from different verticals such as Education, BFSI, IT/ITES, Defence,
Govt-PSU and Energy.
The funding will help Nevis build a next generation
product and expand the presence in existing markets and opportunistically enter
newer markets. Nevis has a well established presence in the network security
market in India with its indigenous NAC product. I am very pleased with this
partnership and looking forward to taking the business forward,” said Radha
Shelat, CEO of Nevis.
“We were very impressed by the Management team at
Nevis. They have an opportunity to build a global company providing
state-of-the-art security solutions. Ncubate is looking at companies with
strong management teams at early stages of growth,” said Rakesh Malhotra,
founder & managing partner of Ncubate.
Nevis is working on the next generation network security
products and other solutions and strategies for expanding its offerings for
networks security for the enterprise market. In general, there is a changing
trend in increasing acceptance and deployment of network security solutions
within enterprise data centers. There have been a number of market drivers that
are forcing organizations to focus on the internal & data center (private
cloud) security.
