Infinnium plans to use the fresh funding for supporting the final development stages and market launch of its 4iG Suite of solutions
Infinnium LLC, US-based software start-up developing solutions to improve information management and business decision-making through artificial intelligence (AI) technology, announced that it has raised ‘a multimillion-dollar’ seed funding from Gujarat-based Sahajanand Group. The amount of the deal was not disclosed by the company.
Infinnium plans to use the fresh funding for supporting the final development stages and market launch of its 4iG Suite of solutions, the start-up said in a statement.
The company’s 4iG product suite uses AI technology to deliver visibility across an organisation’s data repositories, providing insights into structured as well as unstructured data.
The 4iG framework enables law firms, corporations and other organisations to identify, analyse and control information assets in support of business decision-making, regulatory compliance and data security.
To utilise financial potential of data
Commenting on the development, Hari J. Pandya, co-founder and Chief Financial Officer, Infinnium, said, “We formed Infinnium to address huge risk, cost and compliance issues in the information governance market space. There exists substantially underutilised financial potential for decision support from structured and unstructured, numeric and textual data. Organisations in pursuit of effective information governance are hindered by the huge scale of data, manual efforts, a shortage of knowledge and a lack of specialised technology.”
Pandya further said, “Infinnium is uniquely positioned to bridge those gaps with our sophisticated, simple and unified AI technology platform providing end users full control over information from diverse sources. We are pleased to have the Sahajanand Group endorse our vision and strategy, and we are excited to have them join hands with us with this vital funding.”
Bhargav Kotadia, Managing Director, Sahajanand Group, commented, “Globally organisations are facing exponential data growth, combined with increasing complexity in security and data privacy. Organisations are not well equipped to derive the financial benefits available from effective information governance, and they continue to face expensive penalties and loss of financial value as long as the IG technology gap exists.”
“We have invested in Infinnium with a long-term outlook. We believe that Infinnium has the strategic vision and groundbreaking AI solutions to lead the coming transformation in information governance and data privacy,” he added.