Info Edge Ventures leads $2M round in Noida-based Lumiq

Lumiq, a Noid-based data and analytics firm, today said it has raised $2 million in a seed funding round led by Info Edge Ventures along with the participation from Redstart Labs and angel investor Parampreet Bhasin.

With this funding, The startup aims to increase its sales, improve product offerings, and expand its global footprint.

According to a statement, Lumiq closely works with some of the most reputed financial institutions in India and overseas, helping them implement modern DataOps techniques. Many of these enterprises further connect with Lumiq’s plug-and-play suite of SaaS products to bring in further efficiencies in their data.

“With the team’s expertise around data science and data engineering, they have been able to achieve over 100% YoY growth consistently while remaining bootstrapped, and we hope this round of funding helps them accelerate their plans,” said Kitty Agarwal, Partner at Info Edge Ventures.

Lumiq has over 70 ready-to-deploy AI/ML data models and is live on 20+ financial enterprise cloud data platforms. Furthermore, the company has analyzed over 1 billion customer interactions and influenced over 100 million customer journeys to date.

Speaking on the funding round, Shoaib Mohammad, Founder, and CEO, Lumiq, said, “Lumiq’s emPower platform provides Cloud-native, AI solutions and accelerators for the financial service providers that boost customer experience and enhance business productivity. This is enabling enterprises to accelerate and power customer outcomes to deliver digital efficiencies faster with visible differences in less than 100 days of implementation. We are really excited to partner with Info Edge Ventures as this association will help us expand our product portfolio as well as take our sales and operations to the global market.”

Lumiq is a data and analytics platform that enables financial services companies to better understand and monetize their data. Leading insurers, banks, and NBFCs are among Lumiq’s clients.

With its built-in data models, Lumiq’s emPower data platform allows financial institutions in the banking and insurance sectors to activate and monetize their data.

To date, the company has analyzed over 1 billion customer interactions and influenced over 100 million customer journeys. The company has long-term, dependable relationships with over 30 customers, all of whom have a zero-churn track record.

Lumiq uses a consulting-driven prescription analytics approach with API-driven integration on most business platforms, allowing customers to transform their businesses faster and faster.

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