PE-VC Fund Investments
Data mgmt enabler for banks Lumiq raises Rs.50-Cr led by Bajaj Finserv
Noida-based data analytics and AI platform Lumiq has raised INR 50 crore in a Series B round led by Bajaj Finserv Ventures (INR 45 crore) and existing investor Info Edge (INR 5 crore).Founded in 2013 by Shoaib Mohammad and Vaibhav Dobriyal, Lumiq, through its flagship product ‘emPower’, assists banks, insurers, and financial institutions in building and managing data platforms.The new funds will be used to support its expansion plans and meet business and operational requirements.
Between Mar 2021 and Oct 2022, Lumiq had attracted about $8-M from Info Edge, Season Two Ventures and others.For FY25, Lumiq had reported about Rs.67-Cr in Operating Income and about Rs.19-Cr in Net Loss.
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