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Rubix Data Sciences funding

rubix data sciences funding

B2B risk management and monitoring platform, Rubix Data Sciences, announced on Monday that it has raised Rs 6.2 crore in its seed round of funding.

Institutional investor Cactus Venture Partners, family offices, and high net worth individuals (HNIs) participated in the round.

The official statement said that the freshly raised fund will be utilized to improve the technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform.

Founded in 2018, Rubix’s platform and its suite of risk scores, reports, products, and services are based on its huge database of structured and unstructured data collected from more than 120 sources, customized predictive analytics, and proprietary technology.

With the help of its solutions, Rubix provides deep insights to Credit, Risk, Supply Chain, and Compliance professionals, promoting faster and more efficient decision-making.

Commenting on the investment, Mohan Ramaswamy, Co-Founder and CEO of Rubix Data Sciencesremarked, “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. We aim to enhance our proprietary technology and analytics platform that delivers deliver risk assessment, scoring, and monitoring services to our clients,” he added.

As per the press statement, Rubix has been identified as part of the ‘Startup India’ scheme by the Department of Industrial Policy & Promotion (DIPP), Government of India, in 2018. 

It has more than 200 customers from the banking, credit insurance, and corporate sectors, the company said.

These customers utilize the Rubix Automated Risk Management & Monitoring System (ARMS) Platform to take careful Credit, Supplier, and Compliance Risk decisions about their counterparties in India and abroad.

Rubix Data Sciences is providing a great risk management platform for business owners. The company is employing several innovative solutions and has good growth prospects. My best wishes with the team of Rubix Data Sciences.

Shishir Gupta, Founder and CEO, StartupLanes

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