AI consulting startup Navikenz raises $7.5 M from Sekar PRC and Sudip Nandy

In addition to participation from its current investors, AI consulting firm Navikenz has raised $7.5 million in a funding round co-led by Sekar PRC and Sudip Nandy.

Sudip Nandy and others had previously contributed $4 million to the company.

According to a press release from Navikenz, the money raised will be used to grow its workforce and technological capabilities.

Co-founded in 2020 by Anjan Lahiri and Samit Deb, Navikenz focuses on digital transformation and assists businesses in implementing AI-driven solutions to improve business processes. The company specializes in using machine learning and human intuition to apply AI to enhance business operations. RetailBOT, HR Data Analytics, Spend Analytics, and its in-house NaviKATOR methodology for digital transformation are among the solutions it provides.

With bases in Bengaluru and Noida, as well as a presence in Princeton, New Jersey, Navikenz employs about 250 people. It intends to keep developing frameworks and platforms while investing in its staff and clients. According to the startup, it serves insurance and certain finance companies in addition to the top three pharmaceutical and life sciences companies.

For a services-driven business, Navikenz has achieved industry-leading revenue growth and quarterly profitability over the last 12 months. Over the coming years, it hopes to maintain profitable growth, doubling revenues every 12 to 18 months.

Navikenz uses a pod structure to offer AI implementation, architecture, and consulting services.