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Business Intelligence start-up Veratech Intelligence has raised an undisclosed amount from a group of angel investors led by Chandrashekar Kupperi, Founder of ANOVA Corporate Services, an investment banking and advisory firm.
With the funding, Kupperi also joins the company as its CFO, the company said in a statement. The funds will be used to enhance technology and towards team building, it added.
Founded by Mohit Yadav, a lawyer, and Mayank Sharma, an NIT alumnus, Veratech is a data analytics company that does an in-depth risk profile of Indian companies using varied reliable data points.
Mohit Yadav said, “These funds will help us further strengthen the technology so as to improve our analysis even further with high standards of accuracy.”
Mayank Sharma added, “Funds will be deployed to diversify offerings catered to start-ups and MSMEs. Our mission is to democratise the data-driven decision-making process by equipping every Indian business with the ability to do so.”
Veratech presently offers an AI-driven engine ‘Semantic’ that builds an in-depth risk profile of Indian companies using varied reliable data points. The output can be used for credit disbursement in banks, due diligence by lawyers and consultants, risk analysis by compliance professionals and VC/PE firms.
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