Innefu Labs, a startup which develops cyber security solutions using artificial intelligence, raises USD 2 million (about Rs 12 crore) in Series-A funding round from IndiaNivesh Venture Capital Fund. With this funding, now IndiaNivesh has acquired a minority stake in the company. The transaction was facilitated by Sweat Equity Partners.
Delhi-based Innefu Labs was founded in 2011 by Tarun Wig and Abhishek Sharma. It has been continuously working on its Artificial Intelligence prowess to develop innovative frameworks in Biometrics Authentication and predictive intelligence for governments, public undertaking, corporates and law enforcement agencies.
The company also takes interests in the field of cognitive learning for data analytics, open source intelligence, link analysis with pattern matching and fuzzy logic.
On the occasion, Sharma said:
We are a completely ‘Made in India’ company providing indigenous product solutions to our customers in India and abroad. We have the right blend of domain expertise with tech know-how to compete with the best in the world
Innefu is primarily a research oriented Information Security consulting group specializing in meeting the Information Security needs of the consumer via specialized products and services.
The website of the company states:
Internet is the new playground for unwanted elements of society intent on committing terrorist or espionage activities, financial frauds or identity thefts.
The company plans to use the capital for enhancing its AI platform, talent acquisition, and expansion. Innefu also intends to broaden their reach and are now targeting to enter Bangladesh and Sri Lanka.