As part of its pre-series round, Lythouse has raised an undisclosed amount of funding from SucSEED Indovation Fund and Gopinath Latpate.
Dhiraj Nauhbar, Founder and CEO of Lythouse said, “we will utilize these funds to go deep in technology by building data analytics algorithms using AI/ML and strengthening our operations by aggregating more emergency partners for on ground risk mitigation as we go 24/7 in operations”, as per reported by IndianWeb2.
With the aid of the platform’s workflow, Lythouse assists organisations in identifying and notifying any external risks to their operations resulting from external events, as well as mitigating those risks in real-time.
Dhiraj Nauhbar, the Founder and CEO of Lythouse said, “There is a big gap in filtering the right set of information pertaining to external events that pose risk to your business and employees. Today there are hundreds of protests and more than thousands cases of riots reported across the country everyday which is a big risk to businesses and employees. Lythouse is out there to give the right set of insights to businesses and people at the right time in order to calculate & minimize the loss and mitigate the risk in a timely fashion. This product will impact and change how businesses look at logistics continuity, supply chain, human resources, manufacturing and infra safety. Recent rain caused floods in Bangalore are testimony to losses that businesses face due to external events.”
Lythouse employs AI/ML to identify real-time external hazards to revenue, infrastructure, and human life. Lythouse riskmatic platform includes an employee-facing app that gives employees and their families crucial alerts about external location risks and access to our 24X7 command centre if they are caught in any unforeseen risks on the road, at home, or anyplace. The website includes a certified list of police stations, ambulances, hospitals, and other emergency information, as per reported by IndianWeb2.
Pratik Sharma, the Co-founder & CTO of Lythouse said, “Artificial Intelligence and Machine learning today makes it possible to moderate and filter big data for right insights and that’s what Lythouse does to bring real time insights pertaining to external risks with geo intelligence to our customers. Our solutions have powered enterprises to save millions of dollars and priceless lives across India”.
Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Having worked in Senior Leadership roles in Enterprise Risk, Business Continuity & Resilience function in large global enterprises for over two decades, I am aware of the significant gaps which exists in Business environment and sufficient use-cases for an enabling platform. There are a number of Natural and man-made events that pose a risk to continuity of large enterprises. Lythouse collects granular safety data from several sources, uses AI tools and converts them into meaningful insights for business continuity. Lythouse’s can cater to MSMEs as well as MNCs, which increases their user base and scalability. We have seen their product evolving with early business adoption already and with our vast network of Risk Professionals & Business Leaders, we can help them with early market access too.”
Gopinath Latpate, the lead investor says, “Since inception, Lythouse’s mission towards citizen and business safety has resonated very well with me; they have always delivered on this promise even during the peak of pandemic; this has further increased my belief in their purpose. As technology matured, Lythouse has been able to provide data driven intelligence to the businesses and their employees. Lythouse risk matic platform holds a promise to be widely adopted technology by the company leadership in maintaining the business continuity.”
With its 24×7 Command Center, Lythouse is India’s first AI-driven riskmatic platform that not only flags risk but also provides risk mitigation workflow with on-the-ground assistance for emergency scenarios. Since it began operating in 2020, it has aided numerous businesses and residents in maintaining operations and preserving lives.