Cedar-IBSi Capital, a venture capital firm specializing in early-stage financial technology, has made its inaugural investment in Cogniquest.
The cash will be allocated towards technological advancement, broadening the range of applications, and assembling a robust team. In addition to Cedar-IBSi Capital, the funding round includes participation from around 25 angel investors through AngelList India. A significant number of the angels are prominent figures in the banking, financial services, insurance, and technology industries.
Cogniquest is an artificial intelligence and machine learning business that specializes in intelligent document processing. Their primary focus is on automating document processes for financial services companies.
Cedar-IBSi Capital, which completed its initial funding round in the first quarter of 2024, is currently engaged in the active assessment and prioritization of B2B FinTech/BankTech prospects. This strategic focus is driven by the investment team’s previous expertise and the platform’s track record in this particular sector.
The fund has solidified its standing as the sole early-stage pure-play FinTech fund in India. The company will provide funds to support cutting-edge and transformative technology firms that develop products for the BFSI sector. The typical investment amount during the investment cycle will range from INR 10-15 crores (USD 1-2 million), and the company will act as either the primary investor or a co-investor.
Cogniquest has developed an AI platform that is aware of its surroundings and can extract important data points and produce practical insights from intricate papers and information repositories. Our cutting-edge AI solutions enable business users to make smarter decisions by unlocking the full potential of data.
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