WestBridge Capital and Alpha Wave back Lucidity in $21 million round

Lucidity helps firms across the world, including Fortune 500 companies, achieve up to 70 percent savings on storage costs, the company said in a press release.

Lucidity, a multi-cloud storage management platform, has raised $21 million from WestBridge Capital with participation from its existing investor, Alpha Wave, as the company plans to expand its team and include more innovative solutions as part of its offerings.

Lucidity’s cloud storage management platform uniquely automates block storage expansion and shrinking of storage volumes based on real-time data demands which enables IT and DevOps organisations to save hundreds of working hours and allows them to focus on other tasks instead.

Founded in 2021, Lucidity helps firms across the world, including Fortune 500 companies, achieve up to 70 percent savings on storage costs, the company said in a press release. It works across Amazon Web Services (AWS), Microsoft Azure and Google Cloud.

“Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimize their block storage in real-time across all three major cloud providers while significantly reducing costs,” Nitin Bhadauria, co-founder, Lucidity said in a prepared statement.

Lucidity’s services are even more valuable at a time when there are several technological advancements happening around the world.

“The need for cloud storage resources is growing with ongoing advances in AI and a simultaneous need to reduce overall cloud spend. Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure across AWS, Azure, and Google Cloud,” said Rishit Desai, Partner at WestBridge Capital.

Lucidity was founded by Bhadauria, a former employee at Tracxn, a private markets data provider, and Vatsal Rastogi, who used to work at food delivery giant Swiggy. It has offices in Boston, Bengaluru, and Abu Dhabi, with customers all around the globe. The funding comes less than eight months after Lucidity raised a seed round from Beenext in June 2024. Including the previous round, the company has raised a total of $31 million.