Scienaptic Systems, an US-based big data analytics startup has announced a fresh round of fundraising from TVS Motor Company. TVS Motor (Singapore) Pte Limited, a subsidiary firm of TVS Motor has infused a $7 million in the firm as part of Series A financing. The details come out after the firm updated its filings with the BSE. Prior to this round, the firm had picked up a seed and pre-seed financing from Pramod Bhasin and Salil Punalekar.
Scienaptic Systems was founded by Pankaj Kulshreshta in 2014 as a big data analytics and related solutions provider platform. The company uses machine learning and artificial intelligence algorithms one its platform called Ether which helps companies improve risk and credit assessment, monitor evolving fraud patterns, and improve customer experience.
Speaking of the financing from TVS Motor, Pankaj said that “The investment by TVS enables us to accelerate our sales and product development. We found a significant match in value systems between the two organizations and believe that our collective strengths will enable Scienaptic to grow exponentially and become a global leader in AI-powered decisioning space."
TVS Motor Company board member and TVS Motor (Singapore) CEO Rajesh Narasimhan revealed that they decided to fund Scienaptic Systems after doing research around the companies working in the big data analytics and risk management solutions segment.
“Scienaptic’s end-to-end data analytics solution, with applicability to customers in various industries, has the potential to generate a new profit stream for our group. We are happy to invest in, and strategically partner with Scienaptic as they continue to pursue bottom-line impact for Fortune 100 companies," Narasimhan said.