Deep Algorithm Solutions, a startup that uses AI to fight online fraud in digital finance, has raised INR 10.8 crore (about $1.25 million) in seed funding.
Unicorn India Ventures led the funding round, with support from angel investors.
The company will use the money to grow its engineering team and its team that tracks online threats.
It also plans to expand its sales efforts in India and Southeast Asia and improve how its platform works with systems like Azure AD and Okta.
Deep Algorithm was founded in 2021 and works on a B2B model, providing advanced security tools for businesses.
Its main products include adapIDAI, which uses intelligent behavior tracking for identity protection, and BotShield, which helps stop new cyber threats, defends against DDOS attacks, and protects apps while they are running.
The startup offers continuous user authentication and fraud detection tools, specially designed for banks, financial services, and other high-risk digital platforms.
The Mumbai-based company says it has already set up its technology at a major private bank, a government department, and a private hospital.
The company also has a government-approved patent and has applied for an international one.
Deep Algorithm is now expanding its presence in key financial hubs, including Mumbai and Bengaluru. It’s also looking to partner with companies in Kenya, South Africa, and the UAE.
The startup is developing a SaaS version of its products and creating easy-to-use analytics dashboards for mid-sized businesses and risk management teams.
Read more- TNG Digital Teams Up with Kakitangan.com to Simplify Salary Payments
