Cybersecurity and AI startup Deep Algorithm raises Rs 10.8 Cr in seed round led by Unicorn India Ventures

• Deep Algorithm Solutions is a cybersecurity and AI startup focused on fraud prevention in digital financial ecosystems
• In the last 12 months, the company has completed live deployment at a major private bank & govt organization and is in talks with several Indian banks and fintech firms.
• Received a patent from the Indian government in March 2024.
• 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
• Funds raises will be primarily used to scale engineering and threat intelligence teams, accelerate GTM activities in India and Southeast Asia, expand integrations with key enterprise platforms (Azure AD, Okta etc.) and enhance the behavioral AI and fraud analytics engine
• The Company has launched adapIDAI adaptive behavioural intelligence identity security and BotShield – to prevent zero-day attack, DDOS mitigation and run time application security.

Deep Algorithm Solutions, a cybersecurity and AI startup focused on fraud prevention in digital financial ecosystems has raised Rs 10.8 Cr led by Unicorn India Ventures. The round also saw participation from other angel investors.

The Funds raised will be primarily used to scale engineering and threat intelligence teams, accelerate GTM activities in India and Southeast Asia, expand integrations with key enterprise platforms (Azure AD, Okta etc.), enhance the behavioral AI and fraud analytics engine.

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).
Cyber threats today are a genuine concern and are becoming more and more advanced in the way they operate. The importance of cybersecurity for businesses is favourable to improving overall productivity. Deep Algorithm Solutions aims to provide Cyber Security Solutions using cutting-edge technologies like Artificial Intelligence, BlockChain, IoT and Cloud to more effectively guard against fraud and cyberthreats to drive digital transformation and accelerate business growth. The company is a pioneer in offering innovative products that utilize behavioral biometrics and cutting-edge technology to combat cyber threats. Incubated at leading Indian innovation centers, the company has received a Government of India patent and is trusted by financial institutions for next-generation fraud defense.

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.”
In the last 12 months Deep Algorithm has done a live deployment with a major private sector bank & Govt. organisation, one implementation for a private hospital, completed 2 enterprise PoCs, expanded the team, doubled product enhancement cycles and received Indian patent and filed international patent (PCT).

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.

Deep Algorithm has completed live deployment at a government organization and is in talks with several Indian banks and fintech firms. The Company has also launched

adapIDAI adaptive behavioural intelligence identity security and BotShield – to prevent zero-day attack, DDOS Mitigation and run time application security.

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