Pune-based Finarkein Analytics announced it has received Seed round funding co-led by IIFL’s Fintech Fund and Redstart Labs, an Info Edge company. Aaryaman Vir Shah’s Prophetic Ventures, Pearl Agarwal’s Eximius Ventures and angels such as Shalini Chhabra of Incipia Advisors, Chirag Jain of Ashika Group also participated in the round, among others.
Finarkein Analytics is building a low/no code workflow orchestration and data analytics platform for current and upcoming Open Digital Ecosystems (ODEs). As access to data becomes democratised through these public digital goods, businesses need a platform with native first party support to consume and publish data from these ODEs.
Nikhil Kurhe, Co-founder and CEO of Finarkein Analytics, said, “ODEs are addressing the fundamental problem of access to quality, structured and authentic data. But our research and experience indicated another cross-industry challenge of making sense of data at speed and scale, while staying compliant with current and upcoming data laws like the Data Protection Bill. Finarkein’s products are addressing this by building a DIY analytics platform which provides organizations with a trusted execution environment. We are witnessing growing interest from BFSI organizations as we help them simplify the technical landscape, experiment at pace and generate tangible business outcomes quickly."
“Finarkein’s data engineering first approach putting developers at the forefront is something I haven’t seen done before in the open banking and open data space, absolutely pumped at the potential," said Vibhore Sharma, Partner, RedStart Labs and former CTO of Info Edge.
Mehekka Oberoi, Fund Manager, IIFL Fintech Fund, said, finding a sufficiently differentiated offering is difficult in the data space. "Finarkein’s take on Open Data Standards excites us."
At a time when data is increasingly driving our digital experience, Finarkein Analytics emerges as a crucial tool to help developers build it seamlessly and securely, said Pearl Agarwal, Founder & Managing Director, Eximius Ventures.
