The current investor ForgePoint Capital also participated in the tour with a $ 10 million loan from Bridge Bank.
The latest round, according to TRACXN data, brings a total finance for the company that has previously collected two rounds – a series of Donations of 15 million dollars, led by ForgePoint Capital in 2021, and a amount of not announced from Cyber Security Investor Gula Tech Adventures in 2022.
“We will double with new funds in Southeast Asia and one of the growing markets we will focus on,” he said 1Kosmos Siddhaarth Gandhi Mint.
1kosmos positions itself as a multi -factor authentication (MFA) provider, which replaces old security measures such as two -factor authentication (2FA) and passwords.
One -time passwords, Push notifications, Fido Passys (uses users to log in to applications and websites using device biometries), and even face and fingerprint recognition. The company is also included in the employee and seller using MFA.
According to Tracxn, it competes with Idfy, Hyperverge, Zoop, Ongrid and Invoid at the Indian authentication and management market with 90 players.
These companies receive small checks that start up to $ 250,000 and rise up to $ 11 million, which is Digital Processing and Corporate Documentation Management Platform Digio’s Groww Invest Techni Pvt in 2022. Ltd and Rainmatter by Zerodha.
Product Development
1kosmos will manage 35-40% of the funds collected for research and development for product development.
Currently it has three products: 1kosmos verify, 1kosmos labor force and 1kosmos customer. In particular, the company doubles in improveing AI Detection Algorithms. “We are developing talents around deep cake detection and injection attacks, Gandhi said.
Injection attacks occur when artificial intelligence is done to act as a user and thus to violate institutional ecosystems.
The second in the company’s priorities list deepens the presence of Asia and the Middle East and puts 25% of the collected funds for it.
The rest is divided between deepening its services to government agencies in North American geography and increasing sales and marketing expenditures.
While 65% of North American revenue is, Asia is the remaining 35%. Gandhi, “Southeast Asia and the Middle East are activated, we will continue to maintain this ratio,” he said. “Asia’s balance, not in terms of value, but in terms of contract volumes.”
Indian plans
Founded by Vimadalal, Rohan Pinto and Mike Engle, 1 -cosmos was released at the same time in the US and Indian markets in 2018. Since then, the list of customers in the country has grown. The year started with 22 customers. As of last week, six customers hired and brought the total to 28 customers in India.
It plans to bring the total number of customers in the country to 50 by the end of 2026-27.
Initially, the company’s customers, including India Infoline and Kotak Securities, mostly came from banking, financial services and insurance (BFSI), Telecom and several business processes from the outsourcers.
The customer is trying to expand the base to more sectors. “We are moving towards Farma and education. A country with a population of 1.4 billion can be addressed for us. This includes customer -oriented businesses,” Gandhi said.
1Kosmos’ India Employment Revenue La14 Crore with an increase of 5% annually in 2023-24. Interest, taxes, depreciation and depreciation (EBITDA) earnings La2.7 Crore and Snow La1.8 Crore.
