LUMIQ, a Noida-based AI and data analytics platform focused on banking, financial services, and insurance (BFSI), has raised INR 50 crore (approximately $5.9 million) in a strategic pre-Series B funding round. The round was led by Bajaj Finserv Ventures—one of India’s largest and most diversified financial services groups—with INR 45 crore contributed, while existing investor Info Edge Ventures participated with INR 5 crore. TechStory reports the round values LUMIQ at approximately INR 440 crore (~$53 million) post-money, representing a 38% increase from its previous Series A valuation of INR 320 crore.
The company’s core product, LiteCone, is positioned as an AI decision layer for routine, auditable decisions in banking, insurance, and capital markets. LUMIQ announced this funding will scale auto-decisioning capabilities for financial institutions across the United States and Southeast Asia. The capital will fund four strategic priorities: expanding go-to-market efforts in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms.
LUMIQ last raised funding in October 2022 and has grown to roughly 350 employees across offices in India and New Jersey. The company’s LiteCone product turns raw financial signals into confident, auditable risk decisions in milliseconds for loan underwriting, fraud triage, and compliance. This funding strengthens LUMIQ’s position as the AI decision layer for financial services, enabling faster, explainable credit, fraud, and compliance decisions at scale.
FAQs [Frequently Asked Questions]
Q1: How much funding did LUMIQ raise and who invested?
LUMIQ raised INR 50 crore (~$5.9M) in a pre-Series B round led by Bajaj Finserv Ventures (INR 45 crore) with Info Edge Ventures participating (INR 5 crore).
Q2: What is LUMIQ’s LiteCone product and what does it do?
LiteCone is an AI decision layer that makes routine, auditable decisions in banking, insurance, and capital markets, turning financial signals into risk decisions in milliseconds.
Q3: What is LUMIQ’s post-money valuation and employee count?
LUMIQ has a post-money valuation of INR 440 crore (~$53M), up 38% from Series A, and employs roughly 350 people across India and New Jersey offices.