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Lucidity snags $21M to help enterprises optimize their cloud storage
Lucidity, an Indian startup allowing enterprises to automate expansion and shrinking of their cloud storage, has raised $21 million in a Series A round.
A Deloitte report citing public surveys says up to 30% of cloud spending is generally wasted due to pay-as-you-go pricing, lack of visibility, overprovisioning, and unplanned costs. On offer here is an application-agnostic 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. “We are launching one more product in the next six months,” Bhadauria said, adding the startup plans to introduce multiple modules over time to optimize cloud storage.
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