Lumiq Raises Series B Funding
Lumiq, a Noida-based data analytics and AI platform specializing in solutions for the BFSI (Banking, Financial Services, and Insurance) sector, has successfully raised $5.70 million (approximately Rs 50 crore) in its Series B funding round. The round was led by Bajaj Finserv Ventures, with participation from existing investor Info Edge.
Investment Details
The funding round, finalized on June 6, 2026, marks a significant financial injection for Lumiq as it continues to expand its operations and enhance its offerings in the data and AI space. Bajaj Finserv Ventures took the lead in this round, contributing Rs 45 crore, while Info Edge added Rs 5 crore.
Strategic Use of Funds
Lumiq intends to utilize the newly acquired funds to support its expansion plans and meet growing business and operational requirements. The company, founded by Shoaib Mohammad and Vaibhav Dobriyal, is focused on building and managing data platforms for financial institutions, helping them leverage data-driven insights through its flagship product, emPower.
Company Insights
Lumiq has made substantial strides in the financial sector, delivering over 40 implementations globally. The company employs more than 350 data and AI specialists who are pivotal in driving its mission to enhance data management for banks, insurers, and other financial entities.
Implications for Stakeholders
Following this funding round, the shareholding structure will see Info Edge maintaining its position as the largest external shareholder with a 27.76% stake, while Bajaj Finserv Ventures will hold a 10.23% stake. Founders Shoaib Mohammad and Vaibhav Dobriyal will retain significant stakes, holding 30.05% and 9.05% respectively.
This latest investment is expected to further bolster Lumiq's capabilities in serving the BFSI sector, aligning with its long-term growth objectives and commitment to innovation in data analytics and AI.