India, July 31 -- Enterprise cybersecurity startup Safe Security has raised $70 Mn (INR 609.63 Cr) as a part of its Series C funding round led by Avataar Venture Partners.

The round also saw participation from Susquehanna Asia Venture Capital, NextEquity Partners and Prosperity7 Ventures, with existing backers, including Eight Roads, John Chambers and Sorenson Capital, among others.

Safe Security's cofounder and chief executive officer, Saket Modi, told Inc42 that a major portion of the capital will be deployed for product development and building Cyber AGI (artificial general intelligence).

For context, AGI is a concept in AI research and a hypothetical intelligence that doesn't exist yet. It refers to a concept that imagines machines...