Navikenz Raises $4 Million In Seed Funding The platform is helping enterprises discover and implement AI enabled solutions to improve business processes

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Navikenz, a consulting-led Artificial Intelligence (AI) services company, raised $4 million in Seed funding. The investment comes at a time when the firm is aiming to expand and further strengthen its position in the industry.

Founded in 2021 Navikenz is helping enterprises discover and implement AI enabled solutions to improve business processes and supplant "human effort with human intuition.'

"No company needs another line of code – it needs higher revenues and lower costs. Technology enables them to do that. People do not need employment, they need employability and a purpose – a reason to come to work every day. Our aim at Navikenz is to give people this sense of purpose, solving problems for customers in a way that makes them leap to log into their computers every day," said Anjan Lahiri, co-founder and CEO, Navikenz.

Navikenz has multiple clientele based in the US and India and in the next five years, the company aims to become a significant player in the IT Services space.

Since 2021, Navikenz is engaging Fortune 500 companies, recognize strengths of its AI-based solutions, such as business process consulting, enterprise architecture, Cloud and data science capabilities. According to a survey by McKinsey, AI adoption is continuing its steady rise: 56 per cent of all respondents report AI adoption in at least one function, up from 50 per cent in 2020. The newest results suggest that AI adoption since last year has increased most at companies headquartered in emerging economies, including China, the Middle East and North Africa. And across regions, the adoption rate is highest at Indian companies, followed closely by those in Asia–Pacific.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein College of Medicine Tuition-Free

Dr. Ruth Gottesman's husband left her $1 billion in Berkshire Hathaway stock with the following instructions: "Do whatever you think is right with it."

News and Trends

Zydus Wellness: Leveraging FMCG Trends To Turn Around Tables

Price-pack architecture, e-commerce, Internet first brands and increased penetration in smaller pockets, are the current focus of the company

Business News

Warren Buffett's Annual Letter Reveals the Secrets and Lessons Behind $930 Billion Berkshire Hathaway

Buffett wrote about the company's unchanging investment rule and how his sister became "very rich."

News and Trends

Renewables Energy Focused InSolare Raises INR 66 Cr Led by Negen Capital

The Bengaluru-based startup aims to use the raised funds to further improve its capabilities and accelerate its impact in the renewable energy sector.

Business News

'Next Tesla' Electric Car Startups Hit Speed Bump: 'Investors Want To See Demand'

Electric vehicle companies large and small, from Ford to Tesla to Rivian, are dealing with cooler-than-expected demand for EVs.