Rubix Data Sciences, a technology and analytics-based B2B risk management and monitoring platform, on Monday, announced that it has raised Rs 6.2 crore in its seed round of funding.
The funding round saw a participation from institutional investor Cactus Venture Partners, family offices, and high net worth individuals (HNIs).
The B2B risk management platform Rubix Data Sciences will be utilize freshly raised funds to enhance the technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform.
Rubix’s platform was launched in 2018, it focuses on risk scores, reports, products, and services based on its extensive database of structured and unstructured data aggregated from over 120+ sources, customized predictive analytics and proprietary technology.
Through its solutions, Rubix provides deep insights to Credit, Risk, Supply Chain and Compliance professionals, facilitating quicker and more effective decision-making.
Co-Founder and CEO of Rubix Data Sciences, Mohan Ramaswamy said “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. Our aim is to enhance our proprietary technology and analytics platform that delivers risk assessment, scoring and monitoring services to our clients,” he added.