Highlights
AI consulting company Navikenz has successfully raised $11.6 million in a funding round that was co-led by Sekar PRC and Sudip Nandy, along with contributions from current investors. Based in Noida, the company previously attained $8 million from Sudip Nandy and others. The funding will be utilised to grow its workforce and enhance technology capabilities, as mentioned in a press release by Navikenz.
Founded in 2020 by Anjan Lahiri and Sumit Deb, Navikenz supports enterprises in embracing AI-driven solutions to improve business processes, with a strong emphasis on digital transformation. The firm excels in deploying AI to enhance business functions, combining human intuition with machine learning.
Navikenz provides various solutions, including RetailBOT, HR Data Analytics, Spend Analytics, and their unique NaviKATOR methodology for digital transformation. With around 250 employees, the company operates from Bengaluru and Noida while also having a presence in Princeton, New Jersey.
Strategic Growth and Revenue
The company aims to invest in its team and clientele, continually developing frameworks and platforms. Navikenz claims to collaborate with leading firms in the pharmaceutical and life sciences sectors, while also serving clients in the insurance and finance industries.
Financial Performance
Navikenz reported generating over $1 million in revenue during its inaugural year, achieving an annual revenue increase each year since then. It became EBITDA positive in its third year and reached profitability in the last quarter of that year. For the financial year ending March 31, 2024, the company recorded a revenue of Rs 17.2 crore.
Navikenz employs a pod structure to deliver consulting, architecture, and implementation skills centred on AI.