Many enterprises overprovision cloud data storage to accommodate peak demands, resulting in substantial waste and costs. A Deloitte report reveals up to 30% of cloud expenditure is wasted due to several factors, including poor visibility and overprovisioning. Indian startup Lucidity proposes a solution by automating storage optimization, potentially reducing cloud costs by 70%. Its NoOps product integrates seamlessly with existing systems without requiring code changes. Lucidity stands out in the market with no direct competitors, as many enterprises have not yet tackled their storage inefficiencies actively.
Enterprises often overprovision their cloud data storage, leading to significant waste and costs, as they focus on avoiding downtime over optimizing storage efficiency.
Lucidity's software aims to automate cloud storage optimization, potentially cutting enterprise cloud costs by up to 70% through real-time demand adjustments.
Despite existing basic optimization from cloud providers, no one offers dedicated cloud storage optimization, positioning Lucidity uniquely in the market.
The biggest competitor for Lucidity isn't another startup; it's the status quo, where businesses are aware of storage inefficiencies but choose to accept them.
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