Data Sutram, a regulatory technology startup, has raised $9 million in Series A funding co-led by B Capital and Lightspeed to expand its AI-powered fraud detection platform.
The Mumbai-based startup plans to use the funding to scale internationally and enhance fraud detection capabilities in sectors like insurance, gaming, and cryptocurrency.
Founded in 2019, Data Sutram utilizes alternative data and AI to help financial institutions detect fraud and ensure compliance with a proprietary 'Trust Score'.
The company's platform processes over 110 million identities, providing real-time insights to detect risks such as synthetic identities, collusion, and identity theft.