Lumiq Prepares Fresh Series B Fundraise
Noida-based data analytics and artificial intelligence startup Lumiq is set to raise ₹50 crore (approximately $5.2 million) in a new Series B funding round.
The round will be led by Bajaj Finserv Ventures, with participation from existing investor Info Edge.
This marks Lumiq’s first major fundraising event in nearly four years since its Series A round in 2022.
Investment Breakdown
According to regulatory filings, Lumiq’s board has approved the issuance of Series B compulsorily convertible preference shares (CCPS) to raise the planned capital.
Proposed Investments:
- Bajaj Finserv Ventures: ₹45 crore
- Info Edge: ₹5 crore
The fresh funding is expected to support the company’s expansion plans and operational growth.
Valuation Sees Strong Growth
Based on available filings, the funding round is expected to value Lumiq at approximately ₹440 crore ($46.3 million) post-money.
This represents a significant increase from its previous valuation of around ₹320 crore during its Series A funding round.
The valuation growth reflects continued investor confidence in the company’s AI and data analytics capabilities.
Building AI Solutions for Financial Institutions
Founded by:
- Shoaib Mohammad
- Vaibhav Dobriyal
Lumiq focuses on providing data engineering and AI solutions specifically for the BFSI sector.
Its flagship platform, emPower, helps organizations:
- Build data platforms
- Manage enterprise data
- Improve analytics capabilities
- Accelerate AI adoption
The company primarily serves:
- Banks
- Insurance companies
- Financial institutions
Growing Presence in the BFSI Sector
Lumiq claims to have completed:
- More than 40 implementations globally
- Projects across banking and insurance organizations
The company also employs over:
- 350 data and AI specialists
This specialized focus has helped Lumiq establish a niche position within the financial technology ecosystem.
Shareholding Structure After Funding
Following the completion of the Series B round:
Major Shareholders:
- Info Edge: 27.76%
- Bajaj Finserv Ventures: 10.23%
Founder Holdings:
- Shoaib Mohammad: 30.05%
- Vaibhav Dobriyal: 9.05%
The founders will continue to retain significant ownership and control.
Financial Performance
Lumiq has yet to file its FY26 financial results.
For FY25, the company reported:
FY25 Highlights:
- Revenue: ₹71.79 crore
- FY24 Revenue: ₹68.78 crore
- Net Loss: ₹21.64 crore
- FY24 Loss: ₹8.30 crore
While revenue growth remained modest, the company continued investing heavily in growth, technology development, and talent acquisition.
Rising Demand for AI in Financial Services
The BFSI sector is rapidly increasing investments in:
- Artificial Intelligence
- Data analytics
- Predictive modeling
- Automation
- Risk management technologies
Financial institutions are increasingly adopting AI-powered solutions to improve efficiency, customer experiences, and decision-making processes.
Companies like Lumiq are positioned to benefit from this growing demand.
Final Thoughts
Lumiq’s upcoming Series B funding round demonstrates continued investor interest in specialized AI and data analytics platforms serving financial institutions.
With strong backing from Bajaj Finserv Ventures and Info Edge, the company is expected to strengthen its technology capabilities and expand its footprint across the BFSI sector.
As banks and insurers accelerate digital transformation initiatives, demand for AI-driven data platforms is likely to create significant growth opportunities for companies like Lumiq.
