Data Sutram Raises $ 9 Million to Expand AI Fraud Detection Globally
• Regtech startup Data Sutram raised $9 million in Series A funding led by B Capital and Lightspeed to expand its AI-driven fraud detection platform.
• The company plans to enter sectors like insurance, gaming, and crypto, while scaling globally.
• Data Sutram is used by major Indian banks and NBFCs, analyzes alternative data to detect fraud in real time.
Data Sutram, a regulatory technology startup, has successfully raised $9 million in a Series A funding round that was jointly led by prominent global venture capital firms B Capital and Lightspeed. The Mumbai-based company intends to utilize the funds to enhance its AI-driven fraud detection and compliance platform across additional industry sectors and worldwide markets.
Data Sutram was established in 2019, which leverages alternative data and artificial intelligence to assist financial institutions in identifying fraud, maintaining compliance, and reducing non-performing assets. Its platform processes information from over 110 million identities, providing real-time assessments of fraud risk through an exclusive "Trust Score” , which evaluates patterns from digital footprints that include sources like telecom, ecommerce, logistics, and payments to uncover synthetic identities, collusion, and identity theft.
“Our USP is external intelligence”, We offer insights into a customer’s behavior outside the bank's ecosystem, facilitating smarter, real-time decisions during the onboarding process”, remarked Rajit Bhattacharya, Co-founder and CEO
Karan Mohla, General Partner at B Capital, commended the startup’s scalable framework and its initial success with prominent financial institutions, which he stated ,“They’ve already onboarded large financial institutions—a rare feat for an early-stage startup in this space”.
Hemant Mohapatra, Partner at Lightspeed, underscored the platform’s compliance-centric design and real-time functionalities, he stated “With digitization accelerating, the demand for intelligent fraud detection is only growing—and Data Sutram is well-positioned to lead this shift”.
The investment will enable Data Sutram to enhance its fraud detection capabilities beyond the banking sector, branching into fields such as insurance, gaming, and cryptocurrency. Additionally, the company aims to expand its workforce and infrastructure to facilitate international growth. At present, several major banks, non-banking financial companies (NBFCs), and fintech organizations in India use the firm's technology. Unlike conventional fraud detection systems, Data Sutram’s machine learning algorithms concentrate on identifying anomalies and deviations from patterns instead of depending on predetermined templates.
• The company plans to enter sectors like insurance, gaming, and crypto, while scaling globally.
• Data Sutram is used by major Indian banks and NBFCs, analyzes alternative data to detect fraud in real time.
Data Sutram, a regulatory technology startup, has successfully raised $9 million in a Series A funding round that was jointly led by prominent global venture capital firms B Capital and Lightspeed. The Mumbai-based company intends to utilize the funds to enhance its AI-driven fraud detection and compliance platform across additional industry sectors and worldwide markets.
Data Sutram was established in 2019, which leverages alternative data and artificial intelligence to assist financial institutions in identifying fraud, maintaining compliance, and reducing non-performing assets. Its platform processes information from over 110 million identities, providing real-time assessments of fraud risk through an exclusive "Trust Score” , which evaluates patterns from digital footprints that include sources like telecom, ecommerce, logistics, and payments to uncover synthetic identities, collusion, and identity theft.
“Our USP is external intelligence”, We offer insights into a customer’s behavior outside the bank's ecosystem, facilitating smarter, real-time decisions during the onboarding process”, remarked Rajit Bhattacharya, Co-founder and CEO
Karan Mohla, General Partner at B Capital, commended the startup’s scalable framework and its initial success with prominent financial institutions, which he stated ,“They’ve already onboarded large financial institutions—a rare feat for an early-stage startup in this space”.
Hemant Mohapatra, Partner at Lightspeed, underscored the platform’s compliance-centric design and real-time functionalities, he stated “With digitization accelerating, the demand for intelligent fraud detection is only growing—and Data Sutram is well-positioned to lead this shift”.
The investment will enable Data Sutram to enhance its fraud detection capabilities beyond the banking sector, branching into fields such as insurance, gaming, and cryptocurrency. Additionally, the company aims to expand its workforce and infrastructure to facilitate international growth. At present, several major banks, non-banking financial companies (NBFCs), and fintech organizations in India use the firm's technology. Unlike conventional fraud detection systems, Data Sutram’s machine learning algorithms concentrate on identifying anomalies and deviations from patterns instead of depending on predetermined templates.
.jpg "The Week that Was: Indian Startup News Overview (26th May - 1st June)")
