Team Startupcity

• Deep Algorithm raises Rs 10.8 Cr seed funding from Unicorn India Ventures to expand AI-driven fraud prevention and cybersecurity solutions.
• Founded by JP Mishra in 2021, the startup offers platforms like adapIDAI and BotShield to secure digital financial systems using behavioural AI.
• Clients include DCB Bank and NCRTC, the firm plans expansion in India, Southeast Asia, and markets like Kenya, South Africa, and the UAE.

Deep Algorithm Solutions, an artificial intelligence (AI) and cybersecurity startup with expertise in preventing fraud in digital financial systems, raised its first seed fund of Rs 10.8 crore from Unicorn India Ventures.

JP Mishra started the company in December 2021, with a focus on fraud prevention in the financial sector.

It provides solutions like adaptive behavioural intelligence identity security (adapIDAI), an AI-powered platform that tracks users' behavior when interacting with their devices, generating individualized behavioral patterns per user, allowing for effective fraud detection. The platform monitors users' patterns like finger pressure on tapping the screen, phone-holding posture, and typing speed.

“We are trying to solve fraudulent activity, especially with banks, to prevent bot attacks and other cybersecurity risks”, JP Mishra, founder and CEO, Deep Algorithm, told ET.

The company's other platform, BotShield, acts as a digital security guard that protects websites and apps from cyber attacks, including hackers trying to crash systems by overwhelming them with fake traffic, and blocks malicious software from infiltrating applications while they're running.

The proceeds from the financing will go towards scaling engineering and threat intelligence teams, stepping up go-to-market efforts in India and Southeast Asia, increasing integrations with major enterprise platforms, and increasing its behavioural AI and fraud analytics engine.

The application has been implemented at DCB Bank, a private sector financial institution, and the National Capital Region Transport Corporation (NCRTC), a government entity which constructs and operates rapid transit infrastructure to facilitate connectivity and transportation in the Delhi National Capital Region, Mishra said.

Deep Algorithm is looking to deliver cybersecurity solutions with technologies such as AI, blockchain, the internet of things (IoT), and cloud more effectively to protect against cyberthreats and fraud in order to fuel digital transformation and spur business growth.

The company was incubated in IIIT Hyderabad and the premier innovation hubs of IIT Mandi and IIT Kanpur. The firm is looking to increase its sales footprint in BFSI hubs of Mumbai and Bengaluru and is negotiating with customers in Kenya, South Africa, and the UAE. It is also developing channel partnerships with system integrators and cloud marketplaces.