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When we talk about storage capacity, probably something that comes to mind is to store our data in a safe place. On a personal level, this is not much of a mystery, since we can make use of hard disks, internal or external, Micro SD memory cards, pen drives, and what transcends today: cloud storage.
Surely you have used this service on more than one occasion. For example, Google accounts offer 15 GB free for storing multimedia, be it photos, videos, or other types of files. Other companies' services also offer storage that is free, but they will also offer you a membership to expand that capacity. The issue is when do we need to use a large amount of data that warrants an investment.
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Supposedly we would do so if our data is sensitive and we need to access that information using technology that makes things easier for us. At this point, it has to do a lot about what data it is that we provide to these storage applications. If we are developers, we probably need to host certain data that has to do with the code, testing applications, or information regarding the project that is being carried out, in which we will have to work together. Obviously for these cases there are services dedicated to this, which facilitates the administration and manipulation of this data, with the necessary security so that nothing is violated.
But what happens when we are not talking about a personal experience or a small work team, but about a large company? In this case, we also have data that are considered sensitive, because they contain information that could involve the accounts of other people, who in many cases are customers. In addition, since it is a company, we understand that the data is really huge, which suggests the use of a platform that allows to manage such amount of data accurately and as quickly as possible. This means that the company must hire a fast and efficient service, which has all the possible security standards.
However, there is one issue that we would be overlooking. What is the cost? It is possible that these companies allocate a large portion of their funds to hire a service that has an acceptable performance at the time the data is requested, or at least, to be able to access it in a considerably short time without compromising security. There is also the demand for data usage, so at times when there are certain peaks, more capacity will be required. For this reason, companies tend to oversize their contract to have more space available if there is a peak in demand, which translates into an increase in the cost of the contract.
So we have a higher cost, but also space that is not used, so we are overpaying for space that will not be used except at times that require it. DevOps teams go to great lengths to optimize servers, but nevertheless, they neglect to optimize the storage that contains them to avoid any data leakage or significant downtime that could ruin the company's business for its customers. According to a Deloitte report, an estimated 30% of cloud spending is wasted due to poor cloud management.
Lucidity is an Indian startup that plans to change the landscape of cloud storage for companies that handle large amounts of vital data, which must be treated in the most optimal way possible. And what it proposes is really interesting. We are talking about the fact that the company's software makes it possible to manage the information through blocks, reducing or expanding its storage volumes according to the demand that is required. With this in mind, it is possible to reduce costs in the cloud by up to 70%, which refers to an abysmal change in terms of optimization.
This developed technology is really impressive, because it facilitates the manipulation of data in a dynamic way. For this, there are two types of tools that provide a flexibility that other companies do not offer. On the one hand we have the ability to add an agent to the server, which starts an optimization process one hour after it has been implemented, making the expansion or reduction of the block storage dynamically; this feature is called “Storage Auto-Scaler”. On the other hand, there is a second tool that can be used, which is called “Storage Audit”, and allows you to determine how much space can be freed from the cloud and how much is spent.
Everything indicates that it is a great competitor against options such as AWS, Azure and Google Cloud, because they offer tools that are not being considered. Instead, these other companies have to offer more capacity, when it may not be necessary.
Also let's keep in mind that according to Nitin Bhadauria, who is the co-founder of the company, makes mention that Lucidity adds an application-independent layer called NoOps. This layer does not require any changes to the source code, and is based on integration over applications and their environments. As we can see, the central point is based on the capacity of dynamism that this technology has, and that we could see new features, since Bhadauria himself has mentioned that new modules will be added in order to improve the optimization of cloud storage.
At the moment, the investments are allowing the company to project its growth, as well as the use of its financing to improve the technology and cover each target with total precision. Thanks to this investment, the company has managed to raise through a Series A financing round, about $21 million dollars; round led by the firm WestBridge Capital, with the participation of the investor Alpha Wave Global. Total funding is estimated at $32 million.
- Main image edited in Canva.
- Complementary images obtained from: Lucidity web site.
- Information has been consulted from: techcrunch.com.
- Translated from spanish with DeepL.