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AI startup Innefu Labs raises $2 mn from IndiaNivesh

17 April, 2017

Innefu Labs Pvt. Ltd, a startup which develops cybersecurity solutions using artificial intelligence, has raised $2 million (Rs 13 crore) in its Series A investment round from IndiaNivesh Venture Capital Fund.

The New Delhi-based company plans to use the capital for enhancing its AI platform, talent acquisition and expansion. Innefu also intends to enter Bangladesh and Sri Lanka, according to a press statement.

The startup was founded in 2011 by Tarun Wig and Abhishek Sharma. Wig previously co-founded cybersecurity services and training providers Appin Knowledge Solutions and Appin Security Group. Sharma previously worked with Tata Consultancy Services.

Innefu provides its cybersecurity products to defence research establishments, state police departments, intelligence agencies, state-run companies, banks and private-sector organisations. It also works in the field of cognitive learning for data analytics, open source intelligence, link analysis with pattern matching and fuzzy logic.

The fundraising was facilitated by Sweat Equity Partners, the statement said.

In a similar segment, Noida-based Data Resolve Technologies Pvt. Ltd, which runs cybersecurity and cyber intelligence startup Data Resolve, raised over $1 million from IDFC Parampara Early Stage Opportunities Fund earlier this year.

Prior to that, e-governance solutions provider ABM Knowledgeware approved a strategic investment in Bangalore-based security solutions provider InstaSafe Technologies Pvt. Ltd.

IndiaNivesh Venture Capital Fund is a Rs 150-crore fund sponsored by IndiaNivesh Capital and First Bridge Capital Partners. It has invested in five companies till now.

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AI startup Innefu Labs raises $2 mn from IndiaNivesh

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