Data Sutram raises $9 Mn in Series A round

B2B SaaS startup Data Sutram has raised $9 million in its Series A round co-led by B Capital and Lightspeed.

Entrackr had exclusively reported the development in January this year.

In September 2023, Data Sutram secured $3 million in funding, led by Singularity Growth Fund and other investors. Earlier, in February 2022, the company raised $2.07 million in a funding round spearheaded by Varanium Capital and Yatra Angel Network.

The proceeds will be used to support expansion into sectors such as cryptocurrency, real-time payments, gaming, e-commerce, and insurance. It will also grow its AI capabilities and enter international markets in the Middle East and Southeast Asia.

According to Entrackr’s sources, Data Sutram is aiming for a post-money valuation in the range of $60–70 million. However, the company has not disclosed its current valuation.

Founded by Rajit Bhattacharya, Sagnik Poddar, and Ankit Das, the firm supports banks, NBFCs, and fintech firms in identifying fraud and managing risk using AI and data from over 250 sources. It helps reduce mule account creation, improve approval rates, and lower non-performing assets. It also claims to have screened over 110 million identities so far.

According to the company, it uses a ‘Trust Score’ to detect risks like identity theft and synthetic identities. It offers a full customer view while maintaining compliance with privacy regulations.

For the fiscal year ended in March 2024 (FY24), Data Sutram reported Rs 5.6 crore in revenue with a loss of Rs 10.8 crore. Check more details at TheKredible.