Firm Matters

Khaitan & Co advised Bessemer Venture Partners as the lead investor in its Series B investment in Mitigata, a Bengaluru-based cyber resilience and insurance startup, alongside participation from existing investors Nexus Venture Partners, Titan Capital and WEH Ventures in the aggregate round size of $ 15 million. This follows Mitigata's earlier $5.9 million Series A round, led by Nexus Venture Partners with participation from Titan Capital and WEH Ventures, closed in August 2025.

Founded in 2023, Mitigata operates an AI-native, full-stack cyber resilience platform combining cyber insurance, AI-powered security operations, risk intelligence, compliance automation, and digital forensics services, and is positioned as India's first IRDAI-regulated broker focused solely on cyber insurance.

The team acted as legal counsel to BVP throughout its Series B investment in Mitigata, providing end-to-end support across the transaction. Key workstreams included legal due diligence to identify key risks, drafting and reviewing transaction documents to reflect the agreed commercial terms, and leading negotiations on BVP's behalf to secure favourable terms. The transaction also included a secondary component, for which the team assisted BVP with negotiating the share purchase agreement with the sellers and the company, and coordinating conditions precedent and closing actions to completion.

Several features distinguish this transaction from a typical venture financing. First, Mitigata's business model is unusual in combining cyber insurance broking with AI-powered security operations, risk intelligence, compliance automation and incident response within a single platform, requiring diligence to span both technology/commercial risk and insurance-regulatory risk in parallel. Second, the round was notable for investor continuity, with all three Series A backers — Nexus Venture Partners, Titan Capital and WEH Ventures — returning to participate alongside new lead investor Bessemer Venture Partners, reflecting strong syndicate alignment across successive rounds.