Druva Softwares is all set to raise $10m USD in Series B funding from Nexus Venture Partners, according to sources at Economics Times. The Pune based startup provides advanced data protection solutions for organizations. The company has already raised $5m USD in the first round of venture funding from Sequoia Capital and Indian Angel Network in March 2010.
It moved its headquaters from Pune to Mountain View, CA in February this year. The company provides continuous data protection and disaster recovery solutions many enterprises around the world. Many analysts believe that it is a crowded space and Druva Software will have their task cut out if they want to dominate this market. Some of the customers of Druva Software include NASA, Schlumberger, GE Energy, DHL, Louis Vuitton, Amway and HCL.
The company plans to use the funds to expand its services internationally and in research & development activities. Druva Software was founded in 2007 by Jaspreet Singh, Ramani Kothandaraman and Milind Borate.