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Month: April 2025

Digital Native

Digital Lending Platform Kissht Prepares for $225 Mn IPO

Observenow Desk April 4, 2025

Fintech startup Kissht is reportedly preparing for a $225 million (approximately INR 1,926 crore) initial public offering. According to a Mint report citing unnamed sources, the Mumbai-based company has appointed ICICI Securities, UBS Securities, and Motilal Oswal as lead investment bankers for the IPO and is also considering adding a fourth banker to the list.

The report mentions that Kissht plans to file its draft red herring prospectus (DRHP) by June and is targeting a valuation between $900 million and $1.1 billion. The public issue will reportedly consist of both primary and secondary share sales, with 75% expected to be fresh equity aimed at driving growth and expanding into new business areas.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers digital personal and business loans of up to INR 5 lakh with minimal paperwork. The platform also provides health-related insurance products and leverages big data, artificial intelligence, and machine learning to assess borrowers’ creditworthiness. To date, the company claims to have disbursed over 1 crore loans and served 4.5 million customers.

Kissht recently expanded into the loan-against-property space. Speaking on the new venture, Singh noted that they had been piloting the product to better understand associated risks and fine-tune their secured lending processes. “In India, loan against property typically involves manual steps due to collateralisation, but we’re digitising the entire journey,” he said.

The company last raised $80 million in 2022 at a valuation of around $344 million, backed by investors such as Vertex Growth and the Brunei Investment Agency. In total, it has secured $142.54 million in funding and is backed by notable investors like Endiya Partners.

Kissht faces competition from other digital lenders including Moneyview, Lendingkart, Capital Float, FlexiLoans, and KredX. Its IPO comes amid a wave of Indian tech startups heading to the public markets, driven by growing investor confidence—though profitability remains a key concern.

On that front, Kissht appears to be on solid footing, reporting a 234% increase in net profit to INR 82.46 crore in FY24 from INR 24.67 crore in FY23. Its operating revenue also nearly doubled from INR 258 crore to INR 412 crore over the same period.

With its IPO plans underway, Kissht joins the growing list of startups aiming to go public in 2025. Last year saw 13 tech companies debut on the Indian stock market, and over 20 others—including Physics Wallah, Meesho, and IndiQube—are expected to follow suit this year.

Tags: Kissht

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Digital Native

Mumbai-Based Clean Energy Startup Aerem Secures ₹100 Crore in Funding Led by Japan’s UTEC

Observenow Desk

Clean energy startup Aerem has raised ₹100 crore (approximately $11.7 million) in a fresh funding round led by Japan’s University of Tokyo Edge Capital (UTEC). The round also saw participation from British International Investment (BII), SE Ventures, Riverwalk Holdings, and returning investors Blume Ventures and Avaana Capital.

With this latest infusion, Aerem’s total funding now stands at around ₹166.47 crore ($19.5 million). The company previously raised $5 million in 2023, led by climate-focused investor Avaana Capital.

The newly raised capital will support Aerem’s nationwide expansion, particularly in eastern and southern India, while also strengthening its digital platform, solar financing services, and solar marketplace.

Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem offers a comprehensive platform that connects users to trusted solar installers, provides financing solutions, and ensures high-quality solar equipment.

As of April 2025, Aerem claims to have enabled the installation of over 800 MW of solar capacity, financed more than 800 projects, and built a network of over 2,000 installation partners.

In terms of financial performance, the company reported ₹175 crore in revenue for FY24, a significant jump from ₹1.84 crore in FY23, while maintaining stable losses at around ₹3.57 crore.

Aerem operates in a competitive landscape alongside players such as Solarium, Zunroof, Loom Solar, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy.

Tags: Aerem

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Cybersecurity

Synechron Unveils CyberAI Accelerators to Bolster Enterprise Security with AI-Powered Solutions

Observenow Desk

Global digital transformation consulting firm Synechron has announced the launch of its latest innovation—Synechron CyberAI, a comprehensive suite of AI-powered security solutions designed to enhance cybersecurity, automate compliance processes, and minimize risk exposure for enterprises.

As part of its 14th FinLabs accelerator program, Synechron CyberAI introduces four cutting-edge tools tailored to address modern security challenges:

– RiskControl.AI: Automates IT risk management by delivering real-time assessments and actionable compliance insights.

– AppSec.AI: Offers a unified view of security vulnerabilities, enabling organizations to prioritize and remediate risks more efficiently.

– Resolve.AI: Manages and categorizes application and security incidents, streamlining response efforts and boosting system resilience.

– Validate.AI: Secures generative AI (GenAI) applications by enforcing safety protocols, including the detection of prompt injection threats, data leaks, and unsafe outputs.

Commenting on the launch, Faisal Husain, Co-founder and CEO of Synechron, said, “We identified a gap where businesses struggled to keep pace with the speed and complexity of cyber threats. Synechron CyberAI fills that need by delivering scalable, adaptive AI solutions that reinforce defenses through intelligent automation.”

Positioned as a vital addition to Synechron’s FinLabs accelerator portfolio, CyberAI equips organizations with the tools to proactively defend against evolving cyber threats. Sandeep Kumar, Head of FinLabs at Synechron, added, “Synechron CyberAI aims to give companies the tools to anticipate and address security challenges before they become crises. It offers a proactive framework for integrating AI into enterprise security strategies.”

The launch comes at a critical time as organizations increasingly turn to AI for smarter, faster, and more resilient cybersecurity infrastructure.

Tags: CyberAI

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Cybersecurity

Sophos Unveils 2025 Active Adversary Report: Speed and Sophistication of Cyberattacks on the Rise

Observenow Desk

Sophos has released its 2025 Active Adversary Report, offering a comprehensive analysis of attacker behavior and techniques based on over 400 incidents investigated through its Managed Detection and Response (MDR) and Incident Response (IR) services during 2024. A key takeaway from the report is that attackers are primarily gaining initial access to networks by exploiting external remote services—such as firewalls and VPNs—while leveraging valid user accounts. This method accounted for 56% of all cases across MDR and IR investigations.

The report found that compromised credentials remained the top root cause of attacks for the second consecutive year, responsible for 41% of cases. This was followed closely by exploited vulnerabilities (21.79%) and brute-force attacks (21.07%). These findings highlight the critical importance of securing external-facing systems and user authentication mechanisms, as these avenues continue to be the most exploited by cybercriminals.

Another alarming insight from the report is the accelerated pace of cyberattacks. Sophos’ X-Ops team discovered that, in ransomware, data exfiltration, and data extortion cases, the median time between the start of an attack and the exfiltration of data was just 72.98 hours—barely over three days. Even more concerning, organizations typically detected the attack only 2.7 hours after exfiltration, underscoring the importance of rapid detection and response capabilities.

Sophos also reported that attackers are moving quickly to take control of key systems. The median time from initial access to the first attempt at breaching Active Directory—a critical component in most Windows environments—was just 11 hours. Once compromised, Active Directory allows attackers to more easily navigate and control organizational networks.

Among ransomware threats, the most frequently encountered group was Akira, followed by Fog and LockBit, despite a multi-national takedown of LockBit earlier in 2024. In terms of dwell time—the duration between an attack’s start and its detection—the report observed a notable decrease from four days to two days in 2024, largely due to the growing effectiveness of MDR services. Specifically, in MDR cases, ransomware was detected within three days, while non-ransomware threats were identified in just one day. However, dwell time remained longer in IR cases, with four days for ransomware and 11.5 days for non-ransomware incidents.

The report also noted that 83% of ransomware binaries were deployed outside of normal business hours, suggesting that attackers deliberately time their actions to avoid immediate detection. Remote Desktop Protocol (RDP) continues to be the most abused Microsoft tool, appearing in 84% of all MDR and IR cases, further emphasizing the need for stronger access control and monitoring of remote access services.

In response to these findings, Sophos recommends organizations take several proactive measures. These include closing exposed RDP ports, implementing phishing-resistant multifactor authentication (MFA), promptly patching vulnerable systems—especially internet-facing devices—deploying Endpoint Detection and Response (EDR) or MDR tools with 24/7 monitoring, and developing as well as regularly testing a robust incident response plan.

John Shier, Field CISO at Sophos, emphasized that “passive security is no longer enough” and urged businesses to move toward proactive threat detection and response. He stressed that rapid, coordinated defenses are essential to counter the growing sophistication and speed of modern cyberattacks.

Tags: CyberattacksSophos Unveils

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Cybersecurity

OpenAI Makes First Cybersecurity Bet with $43M Investment in Adaptive Security to Combat AI-Powered Threats

Observenow Desk

As generative AI expands the capabilities of hackers and cybercriminals—from deepfaking CEOs to forging receipts—OpenAI is stepping up to support defenses against these advanced threats. The AI giant has made its first foray into cybersecurity, co-leading a $43 million Series A funding round for New York-based startup Adaptive Security, alongside venture capital firm Andreessen Horowitz, the company announced Wednesday.

Founded in 2023, Adaptive Security focuses on simulating AI-driven social engineering attacks to train employees in spotting and resisting them. Its platform mimics phishing attempts via texts, emails, and even spoofed phone calls—like a fake voice message from a company CTO requesting sensitive information. These simulations help organizations identify their most vulnerable areas and reinforce cybersecurity awareness.

“AI has made social engineering attacks easier than ever,” said Adaptive Security CEO and co-founder Brian Long, who previously founded mobile ad startup TapCommerce (acquired by Twitter for over $100 million) and the ad-tech firm Attentive, which reached a $10 billion valuation in 2021.

Adaptive already serves over 100 enterprise customers, and Long credits strong user feedback as a key reason behind OpenAI’s interest. The new funding will primarily be used to hire engineers and further develop the platform in what Long calls the AI “arms race” against increasingly sophisticated cyber threats.

The investment comes as other startups race to tackle the rising tide of AI-enabled cyber risks. Cyberhaven recently raised $100 million to prevent misuse of generative AI tools like ChatGPT, while deepfake detection startup GetReal secured $17.5 million last month.

Tags: cybersecurityOpenAI

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Technology

ChatGPT Becomes Fastest-Growing Consumer App in History with 100 Million Monthly Users

Observenow Desk

In a record-breaking surge, ChatGPT, the AI-powered chatbot developed by OpenAI, has hit an estimated 100 million monthly active users in January—just two months after its public launch. According to a UBS report released Wednesday, this makes ChatGPT the fastest-growing consumer application in history.

Citing data from analytics firm Similarweb, the report noted that ChatGPT averaged around 13 million unique daily visitors in January, more than doubling its December numbers. “In our two decades of tracking the internet space, we’ve never seen a consumer internet app scale this quickly,” UBS analysts stated.

For comparison, TikTok took nine months to reach the same milestone after its global debut, while Instagram needed two and a half years, according to Sensor Tower data.

Launched for free in late November and backed by Microsoft, ChatGPT can produce essays, articles, jokes, and poetry in response to user prompts. On Thursday, OpenAI announced a $20 monthly subscription plan for U.S. users, offering enhanced speed, stability, and early access to new features.

The rapid uptake of the chatbot is expected to give OpenAI a significant edge in the AI race. While high user demand has led to soaring computing costs, the feedback collected is playing a crucial role in refining the model’s responses. OpenAI said the new subscription revenue will help offset these operational expenses.

However, the widespread use of ChatGPT has also sparked concerns about academic dishonesty and the spread of misinformation. Despite this, investor confidence remains strong, with Microsoft recently committing a multi-billion-dollar investment in OpenAI, including both cash and cloud infrastructure support.

Tags: ChatGPT

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Digital Native

Pratilipi Secures $20 Million in Series E Funding, Eyes Expansion into New Storytelling Formats

Observenow Desk

Gurugram-based digital storytelling platform Pratilipi has raised $20 million in its Series E funding round, led by Jungle Ventures. The round comprises $12 million in primary investment from two individual investors and $8 million through secondary share sales.

In the secondary transaction, Qiming Venture Partners partially exited by selling 75–80% of its shares, while Shunwei Capital made a full exit. This fresh round of funding comes nearly four years after Pratilipi’s last raise.

Despite the investment boost, Pratilipi’s valuation dropped to $100 million from $265 million in its previous round, CEO Ranjeet Pratap Singh confirmed. The company plans to utilize the funds for expansion into animation, vertical drama shows, and entry into new geographies beyond India.

Pratilipi, known for its text and audio narratives in Indian languages like Hindi, Gujarati, Bengali, Marathi, and Malayalam, offers a variety of content formats including audiobooks, podcasts, comics, web series, and movies.

According to TheKredible, the Bengaluru-based firm has raised over $100 million to date, with key investors including Krafton, Nexus Venture Partners, Omidyar Network, and Tencent.

Financially, Pratilipi’s revenue grew to ₹57.8 crore in FY24 from ₹35 crore in FY23, while its net loss shrank by 62% to ₹58.13 crore in FY24 from ₹152.6 crore the previous year, owing to stringent cost controls.

Looking ahead, Pratilipi aims to launch its IPO by January 2026, depending on market conditions, Singh had stated last year.

Tags: FUNDINGPratilipi

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Cybersecurity

Cisco’s 2025 Data Privacy Benchmark Study Highlights Evolving Privacy Trends and AI Governance

Observenow Desk April 3, 2025

Cisco has released its 2025 Data Privacy Benchmark Study, offering an in-depth analysis of global privacy trends and their impact on businesses. As data privacy continues to be a cornerstone of trust and business value, the study explores the challenges organizations face in balancing local data storage with the expertise of global providers.

Based on insights from 2,600 privacy and security professionals across 12 countries, the study underscores the growing importance of strong data privacy foundations in maximizing AI’s potential. Cisco’s Chief Legal Officer, Dev Stahlkopf, emphasized the role of privacy in AI governance, stating, “Privacy and proper data governance are foundational to Responsible AI. Privacy investments establish essential groundwork for AI readiness and governance.”

Despite the higher operational costs of data localization, 90% of organizations perceive local storage as inherently safer, while 91% trust global providers for enhanced data protection—a five-percentage-point increase from the previous year. Cisco’s Chief Privacy Officer, Harvey Jang, noted that while data sovereignty is a growing priority, cross-border data flows remain vital for the global digital economy.

Privacy legislation continues to strengthen consumer trust, with 86% of organizations recognizing its positive impact, up from 80% last year. Additionally, Cisco’s 2024 Consumer Privacy Survey found that 53% of global consumers are aware of their country’s privacy laws, and among them, 81% feel confident in protecting their data—nearly double the confidence level of those unaware of such regulations.

With 63% of respondents now highly familiar with Generative AI (GenAI), concerns about data privacy risks remain consistent. While businesses report substantial gains from GenAI, 64% worry about inadvertently sharing sensitive information, yet nearly half admit to inputting non-public data into AI tools. This highlights the need for enhanced security measures, such as Cisco’s AI Defense, to mitigate risks of AI misuse and data leakage.

A striking 99% of organizations plan to reallocate privacy budgets to AI initiatives, reflecting a growing emphasis on responsible AI governance. According to the 2024 Cisco AI Readiness Index, IT budget allocations for AI governance are expected to nearly double in the coming year.

As AI adoption accelerates, Cisco’s latest study underscores the critical balance between data governance, privacy, and AI strategy. With businesses prioritizing both compliance and innovation, investing in robust AI governance frameworks will be essential for long-term growth and consumer trust.

Tags: CiscoData Privacy

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Cybersecurity

Maharashtra Government Establishes Cyber Crime Security Corporation to Combat Rising Digital Threats

Observenow Desk

In response to the growing menace of cybercrimes and digital frauds, the Maharashtra government, led by Deputy Chief Minister Devendra Fadnavis, has announced the establishment of the Maharashtra Cyber Crime Security Corporation (MCCSC) under the Companies Act, 2013. The state government issued an official notification on Tuesday, detailing the formation of the Corporation, which will be overseen by an 11-member board chaired by the additional chief secretary of the state home department.

According to the notification, the MCCSC aims to fortify the state’s cyber infrastructure and enhance security measures for government departments and citizens. The initiative aligns with the Maharashtra Cyber Security Project, a comprehensive program focusing on state-of-the-art technology, skilled manpower, and infrastructure, particularly to safeguard vulnerable groups such as women, children, and senior citizens. The project is expected to serve as a central hub for cybersecurity and cybercrime prevention, with Maharashtra also seeking collaboration with other states and foreign agencies for expert guidance and commercial services.

The government underscored the urgency of cybersecurity measures, citing the surge in digital transactions and cyber threats, including digital arrest scams, cryptocurrency frauds, and fake investment schemes. The misuse of advanced technologies such as artificial intelligence (AI) and deepfake manipulation to deceive citizens has become a significant concern. Additionally, cybercriminals are increasingly resorting to extortion tactics, such as threatening to upload falsified explicit content or impersonating law enforcement and judiciary officials for financial gains. The global impact of cybercrime, now valued at $6 trillion, has evolved into a major security threat, encompassing cyber terrorism, ransomware attacks, and large-scale data breaches.

In this context, the MCCSC will undertake various cybersecurity initiatives for government, public, and private enterprises in India and abroad. It will offer cybersecurity consultancy services, cyber audits, forensic investigations, risk assessments, penetration testing, and Security Operations Center (SOC) services. The Corporation will also conduct specialized training programs and establish a Special Purpose Vehicle (SPV) to streamline cybersecurity operations.

A significant aspect of the Corporation’s mandate includes launching a statewide awareness campaign through social, electronic, and digital media to educate citizens about cyber threats. It will also collaborate with banks, telecom providers, and financial institutions to enhance cybersecurity measures. Additionally, the MCCSC will focus on research and technological advancements, equipping the state with better tools to predict, prevent, and mitigate cyberattacks.

The Cyber Crime Department will work closely with law enforcement agencies and other stakeholders to ensure cybercriminals face legal action. The Corporation will also partner with international agencies, industry leaders, and government institutions to promote cyber-secure business environments. Efforts will be directed towards addressing Intellectual Property Rights (IPR) violations, online piracy, trademark infringements, and counterfeiting to protect digital assets.

Furthermore, the Corporation plans to establish cybersecurity training and development labs through strategic partnerships with public and private sector organizations. It will also seek Corporate Social Responsibility (CSR) funding to enhance cybersecurity infrastructure and awareness programs across Maharashtra.

With these proactive measures, the Maharashtra government aims to position itself as a leader in cybersecurity, ensuring robust digital protection for its citizens, businesses, and government institutions.

Tags: Cyber CrimecybersecurityMaharashtra Government

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Cybersecurity

Saviynt Appoints Nitin Varma as Senior VP and MD for India & SAARC to Drive Growth

Observenow Desk

Saviynt has announced the appointment of Nitin Varma as Senior Vice President and Managing Director for India and SAARC, reinforcing its commitment to the region. With nearly 600 employees in India supporting various corporate functions, Saviynt aims to strengthen its market presence and accelerate growth under Varma’s leadership.

In his new role, Varma will spearhead customer acquisition, expand technical and consulting partnerships, and enhance Saviynt’s position as a trusted identity security provider in the region. His appointment reflects the company’s strategic focus on South Asia’s growing cybersecurity landscape.

“Nitin brings over 25 years of expertise in sales, operations, and strategy across leading identity, security, and infrastructure firms. South Asia presents a major growth opportunity for Saviynt, and we are confident that Nitin is the right leader to drive our expansion,” said Paul Zolfaghari, President, Saviynt.

Varma’s extensive leadership experience includes key roles at CrowdStrike, Palo Alto Networks, and Cisco. As the former Managing Director at CrowdStrike, he was instrumental in building and scaling market presence across India and SAARC.

Expressing enthusiasm for his new role, Varma emphasized India’s growing cybersecurity challenges, stating, “India is the second-most targeted nation globally for cyberattacks, with a majority being identity-related. Saviynt has immense potential to establish its market leadership and deliver impactful security solutions in the region.” He further highlighted plans to build a strong team, forge strategic alliances, and educate businesses on the advantages of Saviynt’s cloud-based identity security platform.

Tags: cybersecurityNitin VarmaSaviynt

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