Lumiq, data and analytics company that powers data-driven decision-making for financial enterprises, has raised $2 million seed round funding led by Info Edge Ventures. The round also saw participation from Redstart Labs and angel investor Parampreet Bhasin.
Lumiq plans to utilise the funds in the company’s sales growth, enhancing product offerings as well as expanding their global footprint.
Kitty Agarwal, Partner at Info Edge Ventures, said, “With the pace of digital transformation accelerating faster than ever before, managing data effectively is now one the biggest challenges for enterprises. With the team’s expertise around data science and data engineering, they have been able to achieve over 100 percent YoY growth consistently while remaining bootstrapped and we hope this round of funding help them accelerate their plans “
Speaking on the successful funding round, Shoaib Mohammad, Founder, and CEO, Lumiq said, “According to Gartner’s Top 10 Data and Analytics Technology Trends for 2021, data and analytics is shifting to a core business function instead of being a secondary activity. Modern data stacks have become mainstream enabling API-based connectivity with multitude of collaborative tools and business intelligence tools.”
