Deep Algorithm Solutions, a cybersecurity and AI startup focused on fraud prevention in digital financial ecosystems has raised Rs 10.8 crore led by Unicorn India Ventures. The round also saw participation from other angel investors.
Founded in December 2021 by JP Mishra, Deep Algorithm is a cybersecurity and AI startup focused on fraud prevention in digital financial ecosystems. Its flagship platform includes adapIDAI (adaptive behavioural intelligence identity security risk engine) and BotShield (prevent zero-day attack, DDOS mitigation and run time application security).
JP Mishra, Founder and CEO, Deep Algorithm, says, “We are solving some of the most critical and nuanced security problems in digital Identity Security and Fraud Prevention using indigenous AI. This round validates our belief that continuous authentication and behavioral intelligence will be central to the future of digital trust.”
The company plans to expand its sales presence in BFSI hubs like Mumbai, Bengaluru, and is in advance talks with clients in Kenya, South Africa and UAE. It is also building channel partnerships with system integrators and cloud marketplaces.
Commenting on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, says, “In our rapidly evolving and technologically advanced world, cyberattacks have become more frequent and dangerous. Furthermore, the rising demand for cybersecurity solutions is strengthening market growth thus; it has become crucial to provide comprehensive tech deliverables to businesses especially for the BFSI sector as they carry a highly sensitive nature of financial data.
The core team at Deep Algorithm comprises experienced professionals with extensive industry experience in Artificial Intelligence, Cloud, Internet of Things and Robotics. We believe Deep Algorithm Solutions has been growing significantly and the funding will help the company scale its services globally.”
In the next 12-18 months, the company plans to launch a commercial SaaS model for mid-market players, expand to two international markets, launch an analytics dashboard for fraud and risk teams and strengthen R&D on agentic AI for fraud resolution.
