Cogniquest AI, an AI-ML intelligent document processing company has raised $1.2 million in a seed funding round led by Cedar-IBSi Capital, and an early-stage FinTech VC fund.
The round has participation from angel investors including Dhiraj Sinha (Ex Capgemini, Dell and now Founder of QuantGro), Umashankar Malapaka (Ex Infosys), Visveswara Gupta (Ex Infosys), Rajesh Bhat (Ex MD Accenture), Anup Naik (Co-founder, Zeliot), Vimal Singh (Founder, ReadyAsssist), Santosh Rao (CFO, Zeliot), and Srinivas Majji to name a few.
The funds will be used on tech development, expanding the use cases, and building a strong team.
Satish Grampurohit, Co-Founder and CEO, Cogniquest, said, “After a fulfilling 25-year journey at Infosys, I joined hands with my co-founders to launch Cogniquest, aiming to revolutionize the document intelligence space. Building a hyperintelligent platform like Cogniquest requires a rare combination of deep industry insights, and expertise in AI, ML, and computational linguistics, which my co-founders Girish, Harsha, Thejaswi, and Nitin bring. We have managed to build an enterprise-grade platform being bootstrapped for over 2 years. With growing customer traction and business visibility, we decided to seek external funding from a strategic investor to accelerate our growth. Cedar IBSI Capital was a natural choice. Securing seed funding from Cedar-IBSi Capital and esteemed angel investors marks a significant milestone in our journey. We are grateful to the angel investors, Cedar-IBSi Capital and AngelList India for their belief in us. We will strive to uphold their trust and deliver substantial value. Fuelled by enthusiastic responses from clients and partners, we are excited about the opportunity to build a globally renowned enterprise tech SaaS platform from India.”
Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, said, “The banking technology and infrastructure ecosystem is undergoing a silent disruption, with new-age players complementing and disrupting age-old monolithic systems, by bringing modular and easier-to-implement solutions. We see immense potential for growth in this segment and expect the next generation of tech-product companies building for BFSI globally to emerge from India. With the experience and expertise of our platform, our fund thesis is uniquely positioned to identify potential winners and help them grow.”
Subit Saurav, Associate Partner, Cedar-IBSi Capital said, “We believe that AI is going to change the way businesses, particularly BFSI, operate in the next decade. Cogniquest’s platform and use cases help enterprises in improving business efficiency and knowledge management for financial institutions, in addition to bringing transparency for end customers. We are excited to partner with Cogniquest, which is building a disruptive AI-enabled platform to extract relevant, refined, classified and validated data from complex and unstructured documents. All of this is guided by the able leadership of Satish, Girish and their diverse team.”
Founded in 2022 by Satish Grampurohit, Girish Kerodi, Thejaswi Subramanya, and Harsha A C, Cogniquest is a technology company specialized in developing solutions for the extraction of insights.
Cogniquest has built a context-aware AI platform with the ability to capture key data points and generate actionable insights from complex documents and information repositories.
Cogniquest uses AI-enabled Natural Language Processing (NLP), Machine Learning (ML) and Knowledge Graphs to automatically get the most relevant, refined, classified and validated data from complex, unstructured and structured sources with human-like machine intelligence.
