Risk control startup SignalX increases Rs 6 Cr in seed spherical led through 9Unicorns, 3Lines VC, Hyderabad Angels

Hyderabad-primarily based AI-powered governance threat control and compliance startup SignalX on Monday saidthat it has raised Rs 6 crore in seed spherical led through 9Unicorns, 3Lines VC, a US-primarily based totally VC fund, with Hyderabad angels as a co-investor.

According to a declaration through the startup, Rajiv Roy, Venture Partner at 3Lines, is becoming a member of the board of SignalX.

Founded in 2018 through Govind Balachandran, Zakir Wahab, and Piyush Arora, SignalX gives an AI-powered SaaS platform for company threat and due diligence for a complete financial, criminal, regulatory, and reputational threat evaluation on any given goal company. It claims to provide its product with a quick turnaround and wonderful studies talents.

“Our Due Diligence AI is purpose-constructed to assist compliance, threat and criminal experts execute a huge variety of analyses beginning from KYB screening to assembly improved due diligence and evaluation necessities inclusive of 29A (Insolvency Bankruptcy Code), Anti-Money Laundering (AML) compliant Customer Due Diligence, Enhanced Due Diligence, Financial Modelling, reputational threat assessments etc,” stated Govind Balachandran.

Commenting on the brand new development, Govind stated, “We are very excited to have the help of 9Unicorns. Their full-size community of area professionals and wealthy understanding base will assist us develop our enterprise and set up ourselves as a go-to platform for all threat and compliance experts throughout industries and functions. We will leverage the investment to bolster our middle group and increase our purchaser base.”

Speaking at the investment, Apoorva Ranjan Sharma, Co-founder and Managing Director, 9Unicorns added,

“With each passing day, regulators are disturbing stricter compliance with legal guidelines and regulations, leaving threat control experts throughout industries in want of a platform this is brief and can provide excellent evaluation results. With its imaginitive and formidable middle group, SignalX can without problems capitalise in this marketplace want and increase its purchaser base. We have complete religion withinside the imaginative and prescient and talents of the founding group and we are hoping that the capital infusion will bolster their SaaS platform and push their enlargement plans ever higher.”