Rubix Data Sciences, technology and analytics-based B2B risk management and monitoring platform, has raised Rs 6.2 crore in seed funding. The investment came from institutional investor Cactus Venture Partners, family offices, and a few high net worth individuals (HNIs). The fresh capital will be used to improve the technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform said a company statement.

Founded in 2018, Rubix is founded by a team of experienced Risk Professionals who have worked extensively in the credit, legal, and supply chain information domains. The firm through its suite of risk scores, reports, products, and services helps clients take prudent credit risks, build a robust supply chain and monitor compliance for business partners in India and around the world.

The startup was also recognized as part of the ‘Startup India’ scheme by the Department of Industrial Policy & Promotion (DIPP), Government of India in 2018.

Mohan Ramaswamy, Co-Founder & CEO, Rubix Data Sciences, said, "As COVID-19 impacts the global economy, it has also enhanced the credit and fraud risk faced by businesses worldwide. This volatile environment has created new challenges for businesses in assessing and monitoring the financial risk of customers, distributors, dealers, suppliers and other third parties in India and overseas."

"Businesses are currently facing higher than the normal financial risk from their third-party relationships and need to address this immediately. Our aim is to enhance our proprietary technology and analytics platform that delivers deliver risk assessment, scoring, and monitoring services to our clients,” he added.