Data and analytics company Lumiq has raised $2 million in its seed round led by Info Edge Ventures. Redstart Labs and angel investor Parampreet Bhasin have also joined the round.
According to Noida-based Lumiq, the funds will be utilised to ramp up its sales growth, enhancing its products offerings and expanding its global footprint.
Founded by Shoaib Mohammad, Lumiq’s emPower data platform with its inbuilt data models enables financial enterprises in the banking and insurance sectors to activate and monetise their data.
The company claims to have developed over 70 ready-to-deploy AI/ML data models and is live on over 20 cloud data platforms of financial enterprise. In addition, the company has so far analysed over 1 billion customer interactions and influenced over 100 million customer journeys.
Over the last six months, Its emPower platform has also received adoption in overseas markets such as the US and South-East Asia.
