Artificial intelligence (AI) consulting company, Navikenz has raised $4 million (around Rs 30 crore) in its seed funding round led by Sudip Nandy, ex-CEO of Aricent and Sekar PRC, ex-CEO of Hexaware, among other high networth individuals (HNIs).
Started by co-founder of Mindtree and former CEO of Birlasoft and Sasken Tech, Anjan Lahiri, Navikenz provides artificial intelligence-based solutions such as business process consulting, enterprise architecture, cloud, and data science capabilities. It helps businesses through purpose-driven adoption of digital technologies and AI capabilities to discover and create new possibilities for their customers.
The startup plans to deploy the fresh capital to hire a team of 100 tech professionals, comprising enterprise and data architects, data scientists and machine-learning engineers across India and the US.
“No company needs another line of code, they need higher revenues and lower costs. Technology enables them to do that. People do not need employment, they need employability, purpose and a reason to come to work every day. Our aim at Navikenz is to give people this sense of purpose, solving problems for customers in a way that makes them leap to log into their computers every day," said Anjan Lahiri, Co-founder and CEO, Navikenz.
According to Navikenz, AI is set to dramatically change the way industries across various platforms function. “Findings from a 2021 McKinsey survey indicate that AI adoption is continuing its steady rise with 56% respondents reporting AI adoption in at least one fucntion, compared to 50% in 2020,” the company says.
“In today’s world, the competitive weapon is your culture and your ability to attract and retain talent. We are targeting to pioneer as many post-COVID practices as possible,” said Samit Deb, co-founder and chief of people success, Navikenz.