AI consulting startup Navikenz raises $7.5 Mn led by Sekar PRC and Sudip Nandy

AI consulting company Navikenz has raised $7.5 million in a funding round co-led by Sekar PRC and Sudip Nandy, along with participation from its existing investors.

The company had earlier secured $4 million from Sudip Nandy and others.

The proceeds will be deployed to expand its team and technology, Navikenz said in a press release.

Co-founded in 2020 by Anjan Lahiri and Samit Deb, Navikenz helps enterprises adopt AI-driven solutions to enhance business processes and focuses on digital transformation. The company specializes in implementing AI to improve business operations, leveraging human intuition alongside machine learning. It offers solutions such as RetailBOT, HR Data Analytics, Spend Analytics, and its proprietary NaviKATOR methodology for digital transformation.

Navikenz has around 250 employees, bases in Bengaluru and Noida, and a presence in Princeton, New Jersey. It plans to invest in its team and customers and continue building frameworks and platforms. The startup says it works with the top three pharma and life sciences companies and also serves insurance and some finance companies.

Over the past year, Navikenz has achieved quarterly profitability and industry-leading revenue growth for a services-led company. It aims to continue profitable growth with a goal to double revenues every 12–18 months over the next few years. It reported revenue of Rs 17.2 crore for the financial year ending March 31, 2024.

Navikenz operates using a pod structure to provide consulting, architecture, and implementation skills for AI.