Adya.ai, a Bengaluru-based leader in Software as a Service (SaaS) for data security, has successfully raised a substantial INR 10.5 crore in its pre-Series A funding round. The funding initiative, spearheaded by prominent investors from Angel Network, marks a significant milestone for the burgeoning company, positioning it to further enhance its Artificial Intelligence (AI)-driven solutions and strengthen its market presence.
Founded by Industry Visionaries
Established in 2023 by the visionary trio of Shayak Mazumdar, Archana Mazumdar, and Angad Singh Ahluwalia, Adya.ai has quickly gained recognition for its innovative approach to data protection and ransomware prevention. The company’s cutting-edge solutions deploy big data and machine learning to identify and safeguard an organization’s most sensitive data, providing real-time alerts in the face of potential theft or misuse.
Strategic Use of Capital
Adya.ai has outlined its strategic plan for the newly acquired capital, expressing its intent to further refine and expand its innovative solutions. The funds will be instrumental in accelerating the development of AI technologies that underpin the company’s offerings. Additionally, the capital injection is expected to fortify Adya.ai’s position in the competitive market and amplify its impact in critical sectors such as retail, mobility, food and beverage, logistics, credit, insurance, and finance.
Key Collaborations and Enterprise Contracts
The success story of Adya.ai extends beyond the fundraising round, with the company highlighting its role as the technology service partner for the Open Network for Digital Commerce (ONDC). This strategic partnership positions Adya.ai at the forefront of empowering key sectors, facilitating seamless operations for major players in the retail, mobility, and financial services industries.
The company proudly boasts a track record of over 10 large enterprise contracts, solidifying its reputation as a trusted technology partner. Notable collaborations include prestigious entities such as Canara Bank, Aditya Birla Financial Limited, and Hindustan Unilever, with a particular focus on sectors like Consumer Packaged Goods (CPG), financial services, retail, and mobility.
Backed by Indian Angel Network (IAN)
The funding round was led by esteemed investors from Angel Network, including Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian. The Indian Angel Network (IAN), a renowned platform for seed and early-stage investments, played a pivotal role by contributing INR 3.75 crore in this funding tranche. Known for its sector-agnostic approach, IAN has funded innovative startups across 19 sectors in India and seven other countries.
Looking Ahead
Adya.ai’s successful funding round not only signifies a vote of confidence from the investment community but also positions the company strategically for future growth. As Adya.ai continues to push the boundaries of AI-driven data security solutions, the industry eagerly anticipates further innovations and contributions that the company is poised to make. The infusion of capital is expected to catalyze the company’s mission of safeguarding sensitive data and combating cyber threats, solidifying its role as a key player in the evolving landscape of digital commerce and technology solutions.
