Lumiq, a Noida, India-based data and analytics company that powers data-driven decision-making for financial enterprises, raised Rs 44.1 crore or $5.5 million in Series A funding, bringing its total raised to $7.5 million.
The round was led by Info Edge Ventures, with participation from Season Two Ventures and RedStart Labs.
This will be used to further develop LUMIQ's presence in international markets (US and SEA) and strengthen its FSI-focused product line.
Speaking about the fund-raise, LUMIQ's CEO Shoaib Mohammad said, "Today we are seeing data manageability as a big challenge, with complex ad-hoc data stacks and solutions stitched together loosely. This weak data backbone can have a major impact in terms of data security, quality, auditability, and compliance. The way you manage, ready, and leverage your enterprise data determines your organization's overall profitability. We want to enable financial enterprises across the globe with best-in-class data engineering practices and data stacks built-for-scale."
LUMIQ's flagship product-empower FSI Data Platform enables financial enterprises to manage, leverage, and monetize their data seamlessly. With over 70 ready-to-deploy AI ML data models already live for 20+ financial and insurance enterprises, the platform has analyzed over 1 billion customer interactions.
Company: Crisp Analytics, Private Limited
Raised: Series A
Funding Month: October 2022
Lead Investors: Info Edge Ventures
Additional Investors: Season Two Ventures and RedStart Labs
Company Website: https://www.lumiq.ai/
Software Category: FSI Data
About the Company: Founded by Shoaib Mohammad, LUMIQ is an end-to-end data transformation partner for modern financial services and insurance (FSI) companies, helping them build the right data DNA which powers their competitive edge and future growth. LUMIQ has developed cutting-edge data stack products and AI ML solutions—across dataOps, E2E observability, ML risk governance, and self-service analytics—for the FSI space. Since 2020, LUMIQ has grown 2X YoY, recently doubling in headcount to 350 data professionals, with new offices in Noida, Chennai, Pune, and New Jersey. Its mission is to progress toward excellence, wherein we are constantly committed to delivering that WOW factor for our customers, partners, and employees.