Lumiq raises $2 million in a seed funding round led by Info Edge Ventures. Redstart Labs and angel investor Parampreet Bhasin were also the participants in the funding round. The funds will be utilized for the company's sales growth, to enhance product offerings and expand the footprint globally.
Shoaib Mohammad, Founder, and CEO, of Lumiq, said, “According to Gartner’s top 10 data and analytics technology trends for 2021, data and analytics are shifting to a core business function instead of being a secondary activity. Modern data stacks have become mainstream enabling API-based connectivity with a multitude of collaborative tools and business intelligence tools.”
The startup has developed over 70 ready-to-deploy AI/ML data models and is live on 20+ cloud data platforms of financial enterprises. The company has so far analysed over one billion customer interactions and influenced more than 100 million customer journeys.
“With the team’s expertise around data science and data engineering, Lumiq has been able to achieve over 100 per cent YoY growth consistently while remaining bootstrapped. We hope this round of funding helps them accelerate their plans.” said, Kitty Agarwal, Partner at Info Edge Ventures.