Bengaluru-Based Startup Lucidity Secures $21 mn Series A Funding to Optimise Cloud Storage

Bengaluru-based tech startup Lucidity focused on optimising cloud storage management for businesses, has successfully raised $21 million in a Series A funding round led by WestBridge Capital.

This funding comes after a previous investment from BEENEXT in June 2024, bringing Lucidity’s total funding to $31 million.

Lucidity’s innovative platform automates cloud storage management, helping businesses reduce cloud storage costs by up to 70%.

The platform works across major cloud providers—AWS, Azure, and Google Cloud—dynamically adjusting storage based on demand. By eliminating the need for manual cloud storage management, Lucidity helps companies save valuable time and resources.

Rishit Desai, partner at WestBridge Capital, commented, "With the increasing need for cloud storage driven by advancements in AI, businesses are also looking for ways to cut cloud costs. Lucidity’s platform fundamentally transforms how enterprises manage cloud storage infrastructure, boosting efficiency and reducing costs for businesses of all sizes."

Founded in 2021, Lucidity has experienced rapid growth, reporting a 400% year-over-year increase. Its platform is already being used by large corporations, including World Market, Dometic, a global airline, and a leading credit ratings firm, to streamline cloud storage management and reduce expenses.

"Enterprises have long struggled with efficiently managing their cloud storage, an area that has not received adequate attention until now," said Lucidity co-founder Nitin Bhadauria. "Lucidity provides the only platform that automatically manages and optimizes block storage in real-time across all three major cloud providers while significantly lowering costs."

Lucidity’s platform has garnered praise from customers for its transformative impact. Brian Lupson, Director of Operations & Governance at Iron Mountain, shared, "We used to spend countless hours provisioning cloud block storage. With Lucidity, we’ve freed up that time and saved significantly on our annual block storage spend."

Ram Kesavan, Senior Director of Engineering at World Market, added, "Lucidity ensures that we never run out of disk space, as it automatically manages disk space expansion when needed."

The new funding will enable Lucidity to expand its team and continue improving its platform to further assist businesses in managing cloud storage more effectively. Dan O’Brien, Chief Solutions Officer at Presidio, concluded, "As cloud adoption continues to rise, cloud storage often becomes an afterthought. Lucidity is a game-changer in cloud storage management, helping enterprises optimize storage utilization, enhance performance, and dramatically reduce costs."