Indian cybersecurity startups on growth path: Accel’s Prayank Swaroop
India’s cybersecurity market, worth about $6 billion in 2023, is set to see considerable growth in the near future with sub-sectors such as application security likely to spawn exciting firms, said Prayank Swaroop, partner at venture fund Accel.
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Swaroop was talking on the sidelines of Accel’s annual cybersecurity summit in Bengaluru on Thursday.
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India’s security startup ecosystem has so far seen about 231 firms receive funding worth $669 million, according to data from Tracxn, with Accel backing six firms. The market grew at a compound annual growth rate (CAGR) of 25% between 2019 and 2023.
“The subsector we are most excited about is application security because a lot of people in India understand the space and a lot of applications get built out of India, so a customer
