Adya.ai raises Rs 10.5 Cr in pre-Series A round

Digital commerce and technology solution provider Adya.ai has raised Rs 10.5 crore in its pre-Series A funding round led by Angel Network’s investors Uday Chatterjee, Romesh Sobti, Sri Prakash and Hari Balasubramanian. Indian Angel Network (IAN) put Rs 3.75 crore in this tranche along with participation from other strategic investors.

The company plans to use the capital to enhance its innovative solutions, strengthen its market presence and accelerate the development of AI technologies, Adya.ai stated in a press release.

Co-founded in 2023 by Shayak Mazumdar, Archana Mazumdar and Angad Singh Ahluwalia, Adya.ai is a SaaS-based solution for data security and protection from ransomware. The solution claims to use big data and machine learning to detect where a company's most sensitive data is, protect it from overexposure and alert management in case of theft or misuse.

According to the Bengaluru-based company, its solution also provides a dashboard for businesses to click on a user and see what files and folders that any consumer can access. As the technology service partner for ONDC, Adya.ai empowers key sectors such as retail, mobility, F&B, logistics, credit, insurance, and finance.

Adya.ai says that its technology marketplace has facilitated over 10 large enterprise contracts, including collaborations with Canara Bank, Aditya Birla Financial Limited, Hindustan Unilever, and others, with a focus on sectors like CPG, financial services, retail, and mobility,

IAN Group is a platform for seed and early stage investment platform with IAN Angel Group, BioAngels and IAN Fund I. The sector-agnostic fund and has funded innovative startups across 19 sectors in India and 7 other countries.