Lumiq, a data and analytics business, has raised $5.5m in a Series A round headed by Info Edge Ventures.
Lumiq is an end-to-end data transformation partner for modern financial services and insurance companies. The firm said it helping them build the Right Data DNA which powers their competitive edge and future growth.
Info Edge Ventures spearheaded the round while Season Two Ventures and RedStart Labs also took part.
The funding will be used to further develop Lumiq’s presence in international markets – US and SEA, and strengthen their FSI-focused product line.
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 so far analyzed over 1 billion customer interactions.
Lumiq CEO Shoaib Mohammad said, “Today we are seeing data manageability is 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 organisation’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.”
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