iTuring.ai, an enterprise-grade AI/ML platform for the Banking, Financial Services & Insurance (BFSI) sector, has raised $5 million in its Series A funding round led by Dallas Venture Capital (DVC) and Mela Ventures.
The funds raised will be used to accelerate the rollout of its proprietary, zero-code platform, which enables banks and insurers to automate every stage in the deployment of data science and machine learning. The new capital will also be directed towards advanced product development, expansion of the US team, and scaling the platform’s autonomous AI capabilities for mission-critical BFSI applications.
Founded in 2018 by Suman Singh, Amit Kumar, Mohammed Nawas, and Srivalsan Ponnachath, iTuring.ai (previously branded as Cyborg Intell) is a zero-code enterprise AI software company focused on the BFSI sector.
iTuring.ai’s AI platform streamlines the entire lifecycle of data science and machine learning, enabling organizations to rapidly develop, deploy, manage, govern, and operationalize AI applications at scale, ethically and responsibly.
The platform addresses the sector’s complexity by integrating advanced automation for data preparation, feature engineering, model development, deployment, and ongoing monitoring – all within a unified environment that meets the sector’s demanding regulatory and audit requirements.
The company delivers its AI/ML platform to clients across India, South Africa, and the United States. In the U.S..
Gokul Dixit, Partner, Dallas Venture Capital, said, “At Dallas Venture Capital, we are inspired by founders who marry deep domain expertise with the vision to re-imagine how software is built and consumed. The iTuring.ai team is doing exactly that—compressing months of data-science effort into hours. They are doing it through a true no-code, enterprise-grade AutoML and decision-AI platform. We believe this ‘AI-as-a-decision-fabric’ theme will define the next decade of enterprise software, and we are thrilled to partner with iTuring. Through the DVC advantage program, we aim to assist them accelerate their global expansion and help every enterprise turn data into trusted decisions in real time.”
ParthasarathyNS, Managing Partner at Mela Ventures, said, “At Mela, we believe some of the most valuable AI companies of the next decade would differentiate themselves on vertical specialization, being deeply embedded in workflows, solving high-impact & domain-specific problems. The BFSI sector’s complexity, regulatory intensity, and data richness make it the perfect proving ground for domain-trained AI systems. Powered by AI-ML, the iTuring platform provides a secure, scalable data infrastructure layer for the BFSI sector.”
Suman Singh, Founder & CEO of iTuring.ai, said, “Our vision from day one was to empower financial institutions to automate the full lifecycle of AI model development, deployment, and governance with a transparent, explainable, and audit-ready solution. This funding allows us to accelerate our mission and bring AI-driven ROI to our clients faster. We are now focused on building autonomous, agentic AI to solve last-mile challenges in customer acquisition, collections, underwriting, and fraud prevention.”
