Lumiq, a data and artificial intelligence platform, will raise ₹50 crore in a new round of Series B funding. The capital injection is the largest in the enterprise’s recent funding round in almost four years. In the previous funding round, the company raised $5.5 million in the Series A round led by Info Edge in October, 2022.
Recent regulatory disclosures directly from the Registrar of Companies (ROC) reveal that the board of directors at Lumiq, a special resolution, has approved the issuance of 2,511 Series B compulsorily convertible preference shares. The individual issue price at which these shares are being offered is ₹1,99,111.66 per share.
Capital infusion and leadership
Renowned institutional investors will play a significant role in the Series B investment round. Bajaj Finserv Ventures will be the lead investor in the proposed primary fundraising, participating with a significant investment of ₹45 crore. Early investor Info Edge is providing the balance ₹5 crore to seal the bid.
As per the estimates released in the post-money valuation actually based on the industry valuation, this fresh capital infusion would achieve Lumiq’s valuation at around ₹440 crore, or around 46.3 million dollars. The new base has shown a significant increase of 38% in the company’s market cap from its previous Series A post-money valuation of ₹ 320 crore.
The incoming funds from the leadership team at Lumiq will be used in the brand’s primary expansion initiatives throughout the markets. Capital will be raised to reflect a company’s rapidly escalating business and operating needs.
Lumiq was founded by the entrepreneurial duo of Shoaib Mohammad and Vaibhav Dobriyal. Lumiq is a specialized data and artificial intelligence platform built with a strong emphasis on the banking, financial services, and insurance domains.
The company helps traditional banks, leading insurance companies, and a variety of financial institutions design and maintain powerful data platforms. This is mainly done by delivering their flagship product, called ‘emPower’. With an established team of over 350 skilled data experts and artificial intelligence professionals, Lumiq has successfully implemented more than 40 projects across the world.
Financial records and capital structure allotments
The issuance of these additional compulsorily convertible preference shares (CS), when fully converted, will lead to a significant change in the Company’s internal shareholding pattern. After the latest transaction, Info Edge will retain its significant stake of 27.76% in the company, remaining the company’s largest external shareholder.
The next major investor will be Bajaj Finserv Ventures, which holds a 10.23% stake in the data platform. The founders, along with Mohammad Shoaib and Vaibhav Dobriyal, who currently serve as co-founders of the firm, will continue to hold high equity stakes in the firm with 30.05% and 9.05% of the shares, respectively.
While the enterprise is yet to officially file its complete financial statements for the fiscal year 2026, its historical financial records outline clear scaling dynamics. In FY25, the core top-line has seen a slight improvement in Lumiq’s performance, with the operating revenue rising from ₹68.78 crore to ₹71.79 crore in FY25.
As part of this revenue scaling, the startup also saw a significant jump in its annual losses. In 2025, the company recorded a net loss of ₹21.64 crore, as compared to ₹8.30 crore in the previous fiscal year, illustrating the growing expense of the company’s specialized tech offerings.
Conclusion
The upcoming Series B round by Lumiq at ₹50 crore reflects the robust market demand for specialized data solutions and AI capabilities in the highly regulated financial services sector. Large investors such as Bajaj Finserv Ventures and existing investor Info Edge give the platform the necessary support for a valuation rising by 38% to ₹440 crore.
The company’s broad global footprint and successful emPower deployments should benefit its future growth trajectory, despite the expansive losses in recent financial disclosures. Lumiq has enough resources to expand its functions further, and its current capital injection can help it grow operationally, gaining a foothold in the fast-changing banking and insurance sector.
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