Cloud storage solutions startup Lucidity raises $21 million from WestBridge Capital, others

Multi-cloud storage management platform Lucidity has raised $21 million in a Series A funding round, led by WestBridge Capital, with participation from existing investor Alpha Wave.

The Bengaluru-based company plans to use the new funds to expand its go-to-market team and further develop its platform to tackle the cloud storage management challenges faced by enterprises worldwide.

“Many enterprises struggle with properly managing their cloud storage, as it’s a challenging area to solve that hasn’t received proper attention until now,” said Nitin Bhadauria, cofounder of Lucidity


Founded in 2021 by Bhadauria and Vatsal Rastogi, Lucidity automates the real-time expansion and shrinking of block storage volumes based on data demands. According to the company, this capability can reduce cloud storage costs by as much as 70% for global enterprises.

Lucidity’s platform is compatible with major cloud service providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, enabling IT and DevOps teams focused on optimising cloud storage.

This funding round follows a seed round follow-on by Beenext in June 2024, bringing Lucidity’s total funding to $31 million. The company had raised $5.3 million in a seed round in 2022, from Alpha Wave. Beenext, Blume Ventures, BoldCapital, NuVentures, and Sparrow Capital, also participated in that round.

The funding comes at a time when companies are increasingly shifting to multi-cloud environments for greater scalability, flexibility, and cost efficiency, with the demand for more efficient cloud storage management solutions growing. The rise of AI, in particular, introduces new challenges related to managing massive volumes of data, further emphasising the need for optimised cloud storage solutions.

Lucidity’s platform has already attracted major global enterprises as clients and operates out of offices in Boston, Bengaluru, and Abu Dhabi.

“We used to spend countless hours provisioning our cloud block storage. With Lucidity, we were able to not only free up that time by automating our storage management but were able to save significant cost on our annual block storage spend,” said Brian Lupson, director of operations and governance at information management services firm Iron Mountain.