[[{“value”:”
Data Sutram, a regulatory-technology startup helping financial institutions combat digital fraud, has raised $9 million (about Rs 75 crore) in a funding round co-led by B Capital and Lightspeed.
The round—a mix of primary and secondary capital—will fuel the startup’s push beyond banking into crypto, gaming, e-commerce, quick commerce and insurance, while also accelerating AI product development and international expansion plans for Southeast Asia and the Middle East.
Founded in 2018 by Rajit Bhattacharya, Aisik Paul and Ankit Das, the Mumbai-based startup sits among a fast-growing cohort of Indian regtech firms responding to the surge in digital transactions and related fraud risk. Data Sutram’s platform uses artificial intelligence and more than 250 external data sources to help banks, NBFCs and other financial-services providers detect synthetic identities, map collusion networks and block mule-account creation.
At the core of the product is “Trust Score,” a proprietary AI model that scans telecom signals, e-commerce footprints, payments records, logistics data, social media and government registries to surface real-time fraud indicators.
The startup claims it has analysed over 110 million unique identities, and counts HDFC Bank, Axis Bank, IndusInd Bank, Union Bank of India, Piramal Finance and L&T Finance among its customers. With the fresh capital, Data Sutram plans to grow its roughly 65-member team and deepen its AI and data-engineering stack to serve high-risk segments such as real-time payments, Web3 and consumer insurance.
The new funding follows a $3 million round in 2023 led by Bharat Fund with participation from Singularity Growth Fund, IIFL, YAN and White Venture, which helped the company scale inside traditional banking.
“}]]
Read More Indian Startup News : Latest Posts