In a recent financial development, Adya.ai, a leading provider of digital commerce and technology solutions, raised INR 10.5 crore in its pre-Series A funding round. Prominent investors led the investment from Angel Network, including Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian. Indian Angel Network (IAN) contributed INR 3.75 crore in this funding tranche, alongside active participation from various strategic investors.
The company has outlined its strategic deployment of the raised capital, intending to enhance its innovative solutions further, fortify its market presence, and expedite the advancement of its artificial intelligence (AI) technologies, as per the official press release from Adya.ai.
Established in 2023 by co-founders Shayak Mazumdar, Archana Mazumdar, and Angad Singh Ahluwalia, Adya.ai specializes in providing a Software as a Service (SaaS)-based solution for data security and protection against ransomware. Leveraging big data and machine learning, the company’s solution is designed to identify a company’s most sensitive data, shield it from overexposure, and promptly alert management in the event of theft or misuse.
The Bengaluru-based company emphasizes that its solution includes a comprehensive dashboard enabling businesses to monitor user access to files and folders, providing transparency and control. Adya.ai is pivotal as the technology service partner for the Open Network for Digital Commerce (ONDC), empowering key sectors such as retail, mobility, food and beverage, logistics, credit, insurance, and finance.
Highlighting its successful track record, Adya.ai asserts that its technology marketplace has facilitated more than ten major enterprise contracts. The company has forged partnerships with industry leaders such as Canara Bank, Aditya Birla Financial Limited, and Hindustan Unilever, with a primary focus on sectors such as consumer packaged goods (CPG), financial services, retail, and mobility.
The Indian Angel Network (IAN) Group, a prominent platform for seed and early-stage investments, encompasses IAN Angel Group, BioAngels, and IAN Fund I. Operating across 19 sectors in India and seven other countries, IAN has consistently funded innovative startups in a sector-agnostic approach.
