Deep Algorithm Solutions, a cybersecurity and AI startup specialising in fraud prevention for digital financial systems, has successfully raised ₹10.8 crore, with Unicorn India Ventures leading the funding round. Other angel investors also contributed to this investment.
The fund will primarily be allocated to enhancing their engineering and threat intelligence teams, accelerating go-to-market initiatives in India and Southeast Asia, expanding integrations with key enterprise platforms like Azure AD and Okta, and upgrading their behavioural AI and fraud analytics engine.
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.”
The company intends to expand its sales presence in key financial hubs, such as Mumbai and Bengaluru, and is actively negotiating with clients in Kenya, South Africa, and the UAE. Moreover, they are developing channel partnerships with system integrators and cloud marketplaces.
Over the next 12-18 months, the firm plans to introduce a commercial SaaS model for mid-market clients, expand into two international markets, launch an analytics dashboard for fraud and risk teams, and enhance its R&D efforts on agentic AI for fraud resolution.
Deep Algorithm has completed a live deployment at a government organisation and is currently in discussions with numerous Indian banks and fintech companies. The company has also released adapIDAI, an adaptive behavioural intelligence identity security solution, and BotShield, designed to prevent zero-day attacks, mitigate DDoS attacks, and provide runtime application security.
Commenting on the investment, Anil Joshi, managing partner, Unicorn India Ventures, said, “The rising demand for cybersecurity solutions is strengthening market growth. [Hence], 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.”
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