News

Indian ATM security provider acquires $5M from Silicon Valley VC fund

June 13, 2014

Securens Systems Pvt. Ltd., a 3-year-old ATM e-surveillance firm based in Mumbai, has announced a capital infusion of more than 30 crore rupees (about $5 million) from the Mayfield venture capital fund.

The company provides dedicated communications, Internet protocol messaging and closed circuit television solutions. The firm specializes in security for banks, ATMs, and high-value asset retail businesses, according to a report by VC Circle.

Securens Systems’ client roster includes 14 banks including ICICI Bank, Axis Bank and State Bank of India. So far, the Mumbai-based firm has installed its system in around 2,000 ATMs across the country, the report said.

Mayfield follows an early-stage venture capital strategy in India, and invests $2–$8 million in companies targeting the infrastructure sector, tech and tech-enabled services and the consumer. Within the last 18 months, Mayfield has invested approximately $15 million in Securens Security.