Artificial intelligence-based startup, Staqu Tuesday said it has raised Rs 11 crore (around $1.5 million) as part of its pre-series A funding round from Mount Judi Venture and SIS Limited.
Existing investor Indian Angel Network (IAN) exited the company partially in this round after the backing the company with an undisclosed amount back in 2016.
The Gurugram-based startup plans to deploy the freshly raised capital to fulfil demand for its AI-based audio-video analytics technology, JARVIS, in international and domestic markets.
Founded in 2015, Staqu is an artificial intelligence-based startup that works on security and enterprise big data analytics domains through its proprietary video analytics, big data and auditing tools.
Earlier today, another AI-based services startup headquartered in US, Navikenz, raised $4 million from multiple high networth individuals (HNIs) in its seed funding round. Navikenz is founded by Mindtree co-founder and former CEO of Birlasoft and Sasken Tech, Anjan Lahiri.
“Staqu has been committed to bringing about a revolution across industries using its proprietary AI technology, JARVIS. The latest funding will allow us to cater to the rising demand and scale our business. We are thrilled to have eminent investors who understand AI’s immense potential backing us in our journey. We look forward to achieving our goals and expanding the business," said Atul Rai, co-founder and CEO of Staqu.
According to the startup's statement, Staqu presently works with over 100 enterprises and 9 state governments. Its clientele includes Rebel food, JK Cement, WeWork, Olive Co-living, Embassy, Tata Projects, Tata Consumer and Borosil among others.
