Lumiq raises $5.9m in Series B to scale AI platforms

By Milan Rojan

 Lumiq has raised $5.9 million in a Series B funding round led by Bajaj Finserv Ventures and Info Edge Ventures, as the enterprise AI and data analytics startup looks to scale its platforms for financial institutions and expand adoption across banking and insurance clients.

The round comprised $5.3 million from Bajaj Finserv Ventures and $0.6 million from Info Edge Ventures. The investment has valued the Noida-based startup at approximately $51.8 million, reflecting a rise of around 38% compared to its previous valuation.

Lumiq was founded by Shoaib Mohammad and Vaibhav Dobriyal and has focused on building artificial intelligence and data analytics platforms for financial institutions. The company develops enterprise solutions that enable banks and insurers to process data, automate workflows and support decision-making through AI-driven insights.

Its product suite includes emPower, PRYZM and LiteCone, which are used by financial institutions for analytics, operational automation and data management use cases. The company has positioned its offerings within the broader shift toward digital transformation in financial services, where demand for scalable data infrastructure has been increasing.

Lumiq has delivered more than 40 global projects and has raised over $8 million in total funding to date, according to industry reports. The company operates in the enterprise AI and data segment of fintech, where startups are focusing on building infrastructure-led solutions for financial institutions undergoing modernisation.

The latest funding round has reflected continued investor interest in AI-enabled enterprise platforms serving the financial services industry. Banks and insurers have been increasingly adopting data-led technologies to improve efficiency, reduce operational complexity and enhance decision-making capabilities.

Lumiq operates in a competitive segment where multiple players are developing AI, analytics and automation tools tailored for financial institutions. The company has continued to expand its presence across enterprise clients in India and international markets.