AI Startup Navikenz has raised an investment of $4 million in a seed fundraising round headed by Sudip Nandy, the former CEO of Aricent, and Sekar PRC, the former CEO of Hexaware.
The funds will be utilized to grow and improve the organization’s presence in India. According to a press release, Navikenz has just finished the first round of campus hiring and is now recruiting a team of 100 high-end IT specialists throughout India and the United States.
Anjan Lahiri, the former president of Mindtree’s IT services and the former CEO of BirlaSoft, founded Navikenz in 2021 to help businesses use AI technologies to enhance business operations. Business process consulting, enterprise architecture, cloud, and data science skills are among the AI-based solutions it offers, according to the company.
Navikenz has a diverse clients in both India and the United States. In the next five years, the firm wants to be a big player in the IT services industry. The company now has clients in the medical sciences and discrete manufacturing industries in the United States and India, including Fortune 100 firms.
In the future, the AI firm hopes to partner with additional Fortune 500 organizations in the United States, Europe, and India. The leadership team of the firm is now operating in the United States, Delhi NCR, Bengaluru, and Hyderabad.
“Most of our staff have joined us online and have been working remotely thus far, having begun amid difficult circumstances last year.” “We want to pioneer as many post-COVID practices as possible,” said Samit Deb, co-founder, and head of people success at Navikenz.
Meanwhile, AI adoption among enterprises based in emerging economies, such as China, the Middle East, and North Africa, has been steadily increasing.
According to the findings of a Mckinsey poll conducted in 2021, AI use is steadily increasing, with 56 percent of all respondents reporting AI usage in at least one function, up from 50 percent in 2020.
According to the report, Indian firms have the greatest adoption rate in the world, followed by those in Asia–Pacific.