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go-ahead often overprovision their cloud data computer memory to keep a fender for need peaks , but that add up at a major price . And while in - planetary house DevOps squad may optimise waiter to cut the impact of these costs , they usually skip optimizing their storage to avoid any inadvertent data expiration or downtime . This leads to significant cloud reposition being wasted or ill use .
A Deloitte report cite public surveyssaysup to 30 % of cloud spending is generally wasted due to pay - as - you - go pricing , lack of visibility , overprovisioning , and unplanned costs .
Indian startupLucidityis hope to help enterprisingness turn to this take by automating storage optimization on the swarm . basically , the startup ’s software help expand or shrink block storage volume based on real - prison term data demand . The company sound out this optimisation can help initiative cut their cloud costs by up to 70 % .
The troupe has evoke a $ 21 million Series A round direct by WestBridge Capital to flesh out its squad and further develop its products . existent investor Alpha Wave Global also enter in the unit of ammunition .
On offer here is an software - agnostical layer called NoOps , which integrates within existing apps and environments without requiring any code - level changes , co - founder Nitin Bhadauria ( pictured above , on the right ) said in an exclusive interview .
Cloud storage provider like AWS , Azure , and Google Cloud provide basic optimisation , but Bhadauria pointed out that no one offer a solvent to optimise cloud memory . Cloud providers alternatively focalise on building products to let customers deploy more and more data on the swarm .
That may be one reason why the 4 - twelvemonth - older startup does not see any significant challenger in the marketplace .
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“ Our braggart competition is no one else actually in this industry , ” Bhadauria tell TechCrunch . “ Our bigger contender is the position quo ; currently , client are not solving this job . They are cognisant of it but believe this is how cloud storage is managed . ”
limpidity was founded in 2021 by Vatsal Rastogi ( pictured above , on the left ) and Bhadauria , who co - establish two SaaS startups in the past . It currently declare oneself two product : Storage Auto - Scaler and Storage Audit .
Storage Auto - Scaler dynamically enlarge and shrink closure storage on cloud waiter . It is deploy as an agent in the host and start up the optimization process within an hour of its deployment , Bhadauria explained . He refuse to divulge further detail on the technical school , saying the fellowship is file patent for it .
“ We are able to only resize the buffer without touching data directly . Because of this potentiality , we can see that customers can see cost savings without start out worried about any issues or downtime , ” he said .
Storage Audit , meanwhile , is a complimentary - to - exercise tool that lets enterprises determine how much of their cloud storage can be freed up and what exactly they spend on it .
lucidness targets Fortune 2000 companies with more than $ 1 billion in revenue in the U.S. and Europe . Bhadauria declined to discover how many customer Lucidity has , but he did say that 70 % of its customers are in the U.S. and the rest are in Europe . Of those , 20 % are on the Fortune 100 .
Lucidity also aims to proffer optimization for object storage in the futurity , Bhadauria pronounce .
This Series A brings the company ’s total funding raised to about $ 32 million . The startupraised $ 5.3 million in come fundingled by Alpha Wave in September 2022 .
Half of the fresh funding , Bhadauria said , will help the startup boom its go - to - grocery squad . The rest will be used to raise the product .
“ We are launching one more product in the next six month , ” Bhadauria say , adding the startup plans to introduce multiple modules over time to optimise swarm warehousing .
The startup has about 100 employee across offices in India , Abu Dhabi , London , and the U.S.
