WiJungle failed at Wi-Fi. Twice. The Jaipur-founded venture shut its first free Wi-Fi network in 2015 within seven months, and its second attempt at the same idea lasted barely two and a half months in early 2017.
Yet the company built on the wreckage of those two failures now counts the Ministry of Defence, the Airport Authority of India and more than 15 union ministries as customers, while its legal entity, HttpCart Technologies, filed an annual revenue of just ₹4.02 crore for the year ended 31 March 2025 (TheCompanyCheck, citing MCA filings). A client list that reads like a national-security roster, sitting on top of a business smaller than a mid-sized retail store, is the contradiction this piece tries to explain.
Quick facts
| Company | WiJungle (legal entity: HttpCart Technologies Pvt Ltd) |
| Founded | October 2014 as HttpCart Technologies; product reconceived as a security gateway in April 2017 |
| Founder(s) | Karmesh Gupta (CEO) and Praveen Gupta (CTO), cousins |
| Businesses | Unified network security gateway: next-gen firewall/UTM, web application firewall, hotspot gateway, SD-WAN, VPN, vulnerability assessment |
| Latest FY revenue | ₹4.02 crore for FY25 (year ended 31 March 2025), as per MCA filings via TheCompanyCheck |
| Latest FY profit/loss | Not publicly disclosed in absolute terms; FY23 filings showed net profit falling 3,428.8% year-on-year, indicating a swing to loss (Tofler) |
| Listed | Private (unlisted); no IPO plans reported |
| Market value / last valuation | Reported at $22 million (about ₹211 crore, $1≈₹96) at its April 2022 seed round (TechGraph, BusinessWorld); Tracxn and PitchBook list the valuation as undisclosed |
| Key shareholders / CEO | Karmesh Gupta and Praveen Gupta (co-founders and directors); investors SOSV and Orbit Ventures |
What they do
WiJungle sells a single hardware appliance that is meant to replace a rack of separate security boxes. Instead of buying a firewall from one vendor, a web application firewall from another and a Wi-Fi hotspot gateway from a third, an organisation installs one WiJungle appliance running the company’s own Linux-based operating system, and turns the functions on or off from one console. The company sells across 26 server models sized for different traffic loads, up to appliances that can synchronise 12,000 users at once, and says this collapses what would otherwise be a multi-vendor security stack into one purchase and one point of support (wijungle.com; IT Voice, 2018). Its buyers are organisations that need to secure many physical sites rather than a single cloud workload: government departments, hotel chains, hospitals, airports and educational campuses across more than 25 countries (wijungle.com; Wikitia).
The origin
Karmesh Gupta grew up in Alwar, Rajasthan, worked briefly as a campus representative for Rajasthan Royals during his engineering degree, picked up an ethical-hacking certification, and then worked as a security analyst at Lucideus Technology before a stint as chief operating officer at a Gwalior firm called Decent Solutions (CXOToday). In October 2014 he and his cousin Praveen Gupta registered HttpCart Technologies in Jaipur with a vague but confident brief: build an internet product company (Inc42; Wikitia). The founding insight was not, at first, about security at all. It was about access. In April 2015 the cousins noticed how much friction stood between ordinary Indians and free internet, and launched WiJungle as a free public Wi-Fi network, positioning it as the first Indian private company to offer completely free Wi-Fi (Inc42). The security-appliance company that exists today is what survived after that idea, and a second version of it, both failed.
The struggle years
The free Wi-Fi network launched on 1 April 2015 and was shut by November 2015, done in by the operating costs of running open internet access with no working revenue model (Inc42; Wikitia). The cousins did not fold the company; they re-tried the same core idea with a different wrapper. In December 2016, WiJungle came back as a “Social Wi-Fi” product, asking users to log in through social media to access hotspots, a model with a plausible advertising and data angle. It ran into India’s telecom price war of that period, in which free or near-free mobile data from new entrants undercut the value of Wi-Fi hotspots overnight, and the reboot was shut within two and a half months (Inc42). Two attempts at the same consumer-facing idea, two shutdowns, in under two years. By the founders’ own later account, this was not their first exposure to failure either: press profiles of Karmesh Gupta describe earlier ventures before HttpCart that did not survive, making WiJungle’s cybersecurity pivot a third attempt at building a lasting company, not a first swing that got lucky (YourStory, 2019).
The turning point
In April 2017, instead of a third try at consumer Wi-Fi, the founders reconceived WiJungle as a business-to-business security appliance: a unified network security gateway, launched initially in 12 models aimed at small and mid-market customers (Wikitia). It was a full pivot, from a free, consumer, ad-supported product with no clear path to revenue, to a priced, enterprise-sold hardware and licensing product. The bet paid off quickly enough to be checkable: WiJungle closed its first overseas sale in February 2018, within ten months of the relaunch (Wikitia), and by the same year had been named a “Most Innovative Cyber Security Product” by Nasscom and the Data Security Council of India (Wikitia; IT Voice, 2018). The company has cited this recognition, plus a CIO Review “Most Promising Enterprise Information Security Product” tag the same year, as the moment outside validation started arriving for the pivot (IT Voice, 2018).
The money behind it
- 2014–2021: self-funded. The company has stated a cumulative investment of roughly ₹11.5 lakh into the WiJungle product line since the 2017 relaunch, run largely on internal accruals and founder capital (IT Voice, 2018).
- 21 February 2022: a seed round closes, publicly reported in late April 2022, led by Orbit Ventures with participation from US-based deep-tech investor SOSV (Tracxn; TechGraph, April 2022; StartupStoryMedia, April 2022; PeopleMatters, April 2022).
- Round size: undisclosed by the company. Valuation: reported at $22 million (about ₹211 crore at $1≈₹96) by two independent outlets, TechGraph and BusinessWorld, both in April 2022 — though data platforms Tracxn and PitchBook list the valuation as undisclosed, so treat the $22 million figure as reported rather than confirmed.
- SOSV: a global early-stage venture firm with a cybersecurity and deep-tech focus; its co-investment signalled that WiJungle’s underlying technology, not just its India distribution, was seen as defensible (TechGraph, April 2022).
- Orbit Ventures: the lead investor on the round, giving WiJungle sector-focused India backing at seed stage (Tracxn).
- No further priced round has been publicly disclosed since; Tracxn lists a single seed round as the company’s funding history as of September 2026.
How it makes money
- Money in: sale of a physical or virtual appliance pre-loaded with WiJungle’s proprietary operating system, sized by model and by the number of synchronised users, up to roughly 12,000 users on its largest boxes (wijungle.com).
- The bundling pitch: one appliance replaces what would otherwise be separate purchases of a next-gen firewall, web application firewall, hotspot/guest-Wi-Fi gateway, router, VPN and SD-WAN — the company’s own claim is that this cuts a customer’s capital outlay by up to 60% versus buying the equivalent stack piecemeal (wijungle.com; IT Voice, 2018).
- Route to market: a mix of direct enterprise/government sales and a channel partner network that WiJungle actively recruits through its own site (wijungle.com).
- Customer mix skews to multi-site, physical-premises organisations — government departments, hotel groups, hospital chains, airports — rather than pure cloud-native software buyers, which is why its named references (Ministry of Defence, Airport Authority of India, The Hyatt, Lemon Tree, Reliance Hospitals) are almost all real-estate-heavy institutions (IT Voice, 2018; Wikitia).
- What people get wrong: because it looks and is marketed like a cybersecurity SaaS story, it is easy to assume recurring, per-seat software economics. It is closer to an appliance and licensing business, where revenue timing tracks hardware refresh and tender cycles rather than a smooth monthly subscription curve — which is consistent with the sharp year-to-year swings in its own filings (Tofler; see The numbers).
The numbers
HttpCart Technologies is a small private company and does not publish a detailed profit-and-loss account; only fragments have surfaced through MCA-sourced filing trackers. The figures below are what could actually be verified, unit ₹ crore.
| Fiscal year | Revenue (₹ crore) | Profit/loss (₹ crore) |
| FY23 (year ended 31 March 2023) | Not disclosed in absolute terms; filings show revenue fell 79.8% year-on-year (Tofler) | Not disclosed in absolute terms; net profit fell 3,428.8% year-on-year, i.e. a swing from profit to loss; net worth fell 669.2% over the same period (Tofler) |
| FY24 (year ended 31 March 2024) | ≈3.05 (derived: FY25 revenue of ₹4.02 crore reflects a one-year CAGR of 32%, per TheCompanyCheck — implying an FY24 base of about ₹3.05 crore) | Not disclosed |
| FY25 (year ended 31 March 2025) | 4.02 (TheCompanyCheck, citing MCA filings) | Not disclosed |
- FY23 was a near-death year on paper: a 79.8% revenue decline paired with a 3,428.8% fall in net profit and a 669.2% collapse in net worth points to the company briefly running at a significant loss and eroding its equity base, not merely slowing down (Tofler).
- The business then rebuilt: by FY25 revenue had recovered to ₹4.02 crore, growing at a reported 32% one-year CAGR (TheCompanyCheck).
- Reported gross margin around the FY23 trough stood at 40.7% (Tofler) — a figure consistent with a hardware-plus-software appliance business rather than a pure software one.
- Absolute FY22 and FY24 profit/loss figures, and FY25 profit/loss, are not available in public trackers without a paid subscription; they are cut here rather than estimated.
Where the money comes from
- Government and defence: more than 15 union ministries and the PMO, plus the Ministry of Defence, the National Informatics Centre and the Airport Authority of India, are cited as customers (Wikitia; IT Voice, 2018).
- Hospitality: named accounts include The Hyatt, Lemon Tree, Royal Orchid and Fern-branded hotels, a sector that needs guest Wi-Fi and network segmentation across many properties at once (IT Voice, 2018).
- Healthcare: Reliance Hospitals and ESIC Hospitals are named customers (IT Voice, 2018).
- Other verticals served include education, BFSI, power and energy, retail and transport, per the company’s own segmentation (wijungle.com).
- Geography: WiJungle books its first overseas sale in February 2018 (Wikitia) and now says it is present in “25+ countries”; as of March 2020 it was targeting Middle East and South Asia as its next expansion markets (Inc42).
- The surprise: despite a customer list that includes India’s defence ministry and its main airport regulator, the company employed only about 23 people as of 31 August 2025, up 44% from a year earlier, and books sub-₹5 crore annual revenue (Tracxn; TheCompanyCheck) — marquee institutional logos have not yet translated into institutional-scale revenue.
The risks
- Revenue concentration and lumpiness: government and large-enterprise tenders are won in blocks, not sold as steady subscriptions, and WiJungle’s own FY23 filings show what that looks like in practice — a 79.8% year-on-year revenue decline in a single fiscal year (Tofler). A business this size can be knocked significantly off course by the timing of a handful of large orders.
- Thin capital buffers: the same FY23 filings show net worth falling 669.2% and net profit falling 3,428.8% year-on-year, i.e., a swing into loss that ate into shareholder equity (Tofler). A company of WiJungle’s scale has limited room to absorb repeat shocks of that size.
- Crowded, better-funded competitive field: Tracxn ranks WiJungle 23rd among 158 active competitors it tracks in network security, with the largest global unified-threat-management and next-gen-firewall vendors — the likes of Fortinet, SonicWall and Sophos — competing for the same enterprise and government budgets with far larger sales and R&D budgets (Tracxn).
The takeaway
The lesson in WiJungle’s record is not that persistence eventually wins; plenty of persistent founders never find the pivot that works. It is narrower and more useful than that: the cousins kept the brand, the team and the operating discipline constant across three attempts, and only changed the thing that was actually broken — the business model wrapped around a technically capable product. The two Wi-Fi failures were not wasted; they built the go-to-market muscle and the “WiJungle” name recognition that the 2017 security pivot then reused. What did not survive the transition was the assumption that a strong idea earns a stable business automatically — the FY23 numbers show that even a company with government-ministry customers can have a year that erases most of its equity. Verified traction with marquee logos is a real asset; it is not, on its own, evidence of a durable business, and the two have to be checked separately.
Frequently asked questions
What does WiJungle actually sell?
A unified network security gateway appliance: one piece of hardware (or a virtual equivalent) that bundles a next-gen firewall, web application firewall, Wi-Fi hotspot gateway, VPN, SD-WAN and vulnerability-assessment functions that would otherwise be bought as separate products (wijungle.com).
Who founded WiJungle and when?
Cousins Karmesh Gupta and Praveen Gupta founded the parent company, HttpCart Technologies, in Jaipur in October 2014. The product now called WiJungle went through two failed consumer Wi-Fi versions before being relaunched as a security gateway in April 2017 (Inc42; Wikitia).
How much funding has WiJungle raised, and from whom?
A single disclosed seed round, closed 21 February 2022 and reported publicly in late April 2022, led by Orbit Ventures with participation from SOSV. The amount was not disclosed; the valuation was reported at $22 million by TechGraph and BusinessWorld, though Tracxn and PitchBook list it as undisclosed (Tracxn; TechGraph, April 2022; BusinessWorld, April 2022).
What was WiJungle’s revenue in its latest reported fiscal year?
₹4.02 crore for FY25, the year ended 31 March 2025, as per MCA filings reported by TheCompanyCheck, implying roughly 32% growth over the prior year.
Is WiJungle a listed company?
No. It remains a private, unlisted company (HttpCart Technologies Pvt Ltd), and no IPO has been reported.
Sources
Figures are as of September 2026. Currency converted at $1 ≈ ₹96.0 as of 18 September 2026 (Trading Economics).
- Inc42, “WiJungle Looks To Solve Fragmented Cybersecurity Market by Unifying Security Products”, March 2020
- Wikitia, “WiJungle”, company history and timeline entry, accessed September 2026
- IT Voice, “WiJungle — World’s first unified network security gateway”, 2018
- WiJungle official site, wijungle.com and wijungle.com/about, accessed September 2026
- CXOToday, “From an ordinary Alwar boy to becoming an entrepreneur: Karmesh Gupta, CEO and Co-founder at WiJungle”, interview, accessed September 2026
- TechGraph, “WiJungle secures seed funding from SOSV”, April 2022
- Startup Story Media, “WiJungle raises seed capital from the global venture capital firm SOSV”, April 2022
- People Matters, “Cybersecurity startup WiJungle raises seed funding from SOSV”, April 2022
- BusinessWorld, “WiJungle Mitigates Over 3 Billion Cyber Threats”, referenced via search index, 2022
- Tracxn, “WiJungle” company and funding profile, and “HTTPCART TECHNOLOGIES PRIVATE LIMITED” legal-entity financial profile, accessed September 2026
- CB Insights, “WiJungle” company profile, accessed September 2026
- PitchBook, “WiJungle” company profile, accessed September 2026
- Tofler, “Httpcart Technologies Private Limited” financial summary (CIN U72900RJ2014PTC046418), accessed September 2026
- TheCompanyCheck, “Httpcart Technologies Private Limited — FY 2025 Insights”, accessed September 2026
Found an error? Write to us and we’ll correct it in the open, dated, on the piece.