Get All Access for $5/mo

Despite COVID Setback, Innefu Labs Expansion Plan Intact The start-up is eyeing different geographies as well as different market segments as they believe India still lags behind when it comes to securing the digital space.

By Debroop Roy

Opinions expressed by Entrepreneur contributors are their own.

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

Innefu Labs
Tarun Wig, Co-Founder, Innefu Labs

Innefu Labs, founded in 2010 by IT engineers Tarun Wig and Abhishek Sharma, have been impacted heavily due to the COVID-19 outbreak with three of its big projects being shelved. But that has not deterred the founders to plan expansion into different geographies as well as different market segments as they believe India still lags behind when it comes to securing the digital space.

"We are continuously introducing the latest AI (artificial intelligence) models for feature extraction for different data sources including satellite imagery as well. The models are regularly getting trained on increasingly large volumes of data thereby achieving higher accuracy. We are now in the midst of introducing our technology from national security to the financial fraud analytics sector," said 34-year-old Wig.

Innefu—which develops products related analytics and cybersecurity—works with large enterprises, defence agencies and law enforcement agencies in India. The startup has even worked with the Indian army.

One of the biggest challenges faced by the startup was lack of adoption of the technology in the customer segment. "Apart from that, finding the right talent pool with relevant domain expertise along with data scientist background was extremely difficult," said Wig, adding that the problem is eased to an extent now.

The startup uses multiple AI models working on different datasets to extract relevant intelligence automatically and correlate all different datasets into one big data repository for predictive modeling. These AI models are used to predict fraud in the financial sector—insurance, banking and finance— law enforcement and national security.

However, the path to profitability remains a challenge. "I think it's a lot to do with persistence and longevity. The longer you can survive on your product, the better chances you give yourself to grow exponentially," said Wig.

Innefu won the 'Security Product Company of the Year' by Data Security Council of India (DSCI) in 2018. DSCI is a not-for-profit industry body on data protection in India which has been set up by NASSCOM. In 2017, the startup was classified as one of the top five companies in the cyber excellence globally.

Debroop Roy

Former Correspondent

Covering the start-up ecosystem in and around Bangalore. Formerly an energy reporter at Reuters. A film, cricket buff who also writes fiction on weekends.
Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Leadership

How to Master the Art of Delegation — Lessons From Andrew Carnegie's Legacy

Here's what Andrew Carnegie can teach today's entrepreneurs about leadership, teamwork and effective delegation.

News and Trends

Digital Fear: How Stock Trading Scams, Investment Frauds, Digital Arrest and Threats From Foreign Lands are Crippling

Since 2021, CFCFRMS has recorded a staggering 30.05 lakh complaints, resulting in losses of INR 27,914 crore

Business News

'I'm Not Trying to Land on Mars': Mark Cuban Takes Dig at Elon Musk to Explain Why His Online Pharmacy Isn't Trying to Make More Money

Mark Cuban Cost Plus Drug Co. is an online pharmacy co-founded by Cuban and radiologist Alex Oshmyansky.

Marketing

Your Most Powerful Marketing Weapon Is Hiding in the Finance Department — Here's Why

Transform your marketing leadership by turning finance from a barrier into a strategic ally. Learn how aligning with your finance team can drive unprecedented growth and innovation.

News and Trends

Talent, Digital Infra, Policy, and Startups Driving India's GCC Ecosystem

By leveraging its demographic dividend and evolving policies, India is uniquely positioned to become the preferred choice for global enterprises seeking scalability, resilience, and a future-ready operational base.