AI-based Security Solutions for Fraud Websites and Malware Protection | Kavach - AI Digital Security
The Problem: The entrepreneur, Pratyusha, identified the pervasive issue of increasing online fraud in India. She highlighted that with 70 crore active internet users, one out of two people fell victim to cyber fraud in the last year, leading to significant financial losses (100 crore per day due to bank fraud according to RBI). She also noted that e-commerce companies and social media track user data, which can lead to fraudulent sites. Her own experience of being defrauded while trying to buy a swing online, despite the website appearing legitimate, underscored the problem's severity. Even tech-savvy individuals, including herself with 18 years of security experience, are vulnerable, with a significant number of frauds occurring among people aged 24-40. The primary channels for 70% of fraud cases were identified as calls, messages, and websites.
Who Benefits: The solution primarily benefits individuals and businesses. The AI Kavach app is designed to protect individual users by providing real-time alerts about fraudulent websites, calls, apps, and messages, aiming to make every digital interaction safe. The founder also plans to expand the solution to businesses, particularly financial companies, to help them with fraud detection.
Entrepreneur's Characteristics: Pratyusha is characterized by her extensive experience in cybersecurity, having been the ex-product head at Microsoft for Identity and Security and working at major tech companies like Cisco and Palo Alto Networks. She is a problem-solver, driven by her own personal experience with online fraud, and is technically proficient in developing her AI solution. She is ambitious, confident, and a strategic thinker, having considered different business models. She also demonstrates an ability to negotiate, successfully securing a deal with two investors.
Surprising Elements:
The founder, a cybersecurity expert, was herself a victim of online fraud.
The high rate of fraud among the tech-savvy 24-40 age group.
The app's rapid traction, gaining 20,000 downloads and 1,500 paid users in just two months.
The intense bidding war between investors ("sharks") to fund her company.
Several things were surprising in the video. The founder's impressive background as an ex-product head at Microsoft for Identity and Security was notable. Despite her extensive security experience, Pratyusha herself fell victim to online fraud, which was a key motivator for her product. It was also surprising to hear her state with 100% certainty that phones are constantly listening to conversations, leading to targeted ads. The fact that a significant number of frauds occur among tech-savvy individuals aged 24-40 was unexpected. Finally, the rapid early traction of AI Kavach, with 20,000 downloads and 1,500 paid subscribers within two months, and the "fight" between two "sharks" (investors) to invest in her company, were also surprising.