“We are in a great position in terms of our market positioning. It’s a greenfield space, and we want to bring this product in front of as many customers as possible. A significant part of the fundraise goes there,” said Vatsal Rastogi, Co-Founder of Lucidity. “That being said, we are a deep-tech organisation, and innovation is the living soul of the company. We will continue to invest in R&D and look to bring more innovative products and solutions to our customers.”
According to Rastogi, Lucidity is the world’s only multi-cloud storage orchestration platform, live across AWS, Azure, and GCP. By tackling inefficiencies in cloud infrastructure spending, the company provides enterprises with an optimised storage management solution that reduces waste and cuts costs significantly.
Enterprises typically over-provision their infrastructure by a factor of 3-5x, and in some cases, as much as 10x. Lucidity’s intelligent auto-scaling mechanism eliminates unnecessary spending by dynamically adjusting resource allocation in real time, Rastogi added.
Edited Excerpt from the Interview:
Q: You call yourselves the world’s only multi-cloud storage management platform. So, you’re saying you don’t have competition. Could you tell us about your offerings and how you’re helping enterprises optimise cloud storage?
Rastogi: Storage management is the space in which we are. Organisations generally spend a lot of their resources on cloud management. It is set to touch about $230 billion within 2025 itself, and within this, the cloud verticals infrastructure is the biggest spender, and this is one of the areas we are targeting as well.
About 30-40% of the resources go to waste within cloud infrastructure. They are unused capacity that was just added as buffer space. This storage is one of the areas that has not gotten the attention it should so far. This is the space that we are targeting. We have brought the world’s first multi-cloud storage orchestration platform at Lucidity. We are live in AWS, Azure and GCP, and we are the only company in the world to be able to do so.
Our recent fundraises, growth, and customer love have been a testament to that. We serve one of the largest airlines globally. We serve one of the largest credit rating firms and some notable names in the Fortune 1,000 companies.
Q: You also claim that your storage management platform helps Fortune 500 companies cut costs by up to 70%. Take us through your tech edge. How do you do this on real-time data demands?
Rastogi: Enterprises typically overprovision their infrastructure by a margin. On average, it’s 3-5x, and in some cases, it’s about 10 times overprovisioned. This means they’re paying 10 times more than they ought to, and this is where Lucidity comes in. With our intelligent auto-scaling mechanism, we can reduce this buffer and optimise this infrastructure so that they pay only for what they use.
Now, with our inbuilt technology, where we work very closely with the infrastructure and operating system layers, we can bring these improvements and innovations to the customer. We can act on a real-time basis and make adjustments in seconds so that the customer does not end up paying anything more than they ought to.
Q: How do you plan to allocate the funds raised? I understand you plan to expand the go-to-market team and continue innovating the platform to solve key storage management problems for enterprises. Share with us what’s in the pipeline.
Rastogi: We are going to have a twofold approach to this fundraise. We are in a great position in terms of our market positioning. It’s a greenfield space, and we want to bring this product to as many customers as possible. Most customers are global enterprises, and we would like to be in front of them as much as possible. So, a significant part of the fundraise goes there. That being said, we are a deep tech organisation, and innovation is the living soul of the organisation. So, we will continue investing in R&D and look to bring our customers more innovative products and solutions.
Watch the accompanying video for the entire conversation.
