Highlights
Navikenz, an AI consulting firm, has successfully raised $7.5 million in a funding round that was co-led by Sekar PRC and Sudip Nandy, with additional backing from its current investors. Previously, the Noida-based firm secured $8 million from Sudip Nandy and others. The latest funding will be used to strengthen its team and advance its technology, as stated in a press release.
Founded in 2020 by Anjan Lahiri and Samit Deb, Navikenz is dedicated to assisting enterprises in adopting AI-driven solutions that enhance business processes and focus on digital transformation. The company excels in implementing AI technologies to optimise business operations, merging human intuition with machine learning capabilities.
Innovative Solutions Offered
Navikenz offers a range of innovative solutions, including RetailBOT, HR Data Analytics, Spend Analytics, and its unique NaviKATOR methodology designed for digital transformation.
Company Growth and Workforce
Navikenz currently employs around 250 professionals, with offices in Bengaluru and Noida, and a presence in Princeton, New Jersey. The firm plans to invest further in its personnel and customer relationships while continuing to develop frameworks and platforms.
Clientele and Business Model
This startup serves leading companies within the pharmaceutical and life sciences sectors, while also catering to insurance and certain financial firms. Navikenz reported generating over $1 million in revenue during its inaugural year and has consistently doubled its revenue each subsequent year. The company achieved EBITDA positivity in its third year and reached profitability by the end of that same year, reporting revenue of Rs 17.2 crore for the financial year ending March 31, 2024.
Operational Structure
Navikenz operates using a pod structure, providing consulting, architecture, and implementation expertise within the AI domain.