9Mumbai-based data intelligence startup Data Sutram has raised $9 million in a Series A funding round, the company announced this week. The round was led by global venture capital firms B Capital and Lightspeed, marking a significant milestone for the company as it accelerates its mission to modernise risk assessment and compliance in financial services.
The latest funding includes both primary and secondary transactions, although the startup has not disclosed the exact split. According to company sources, the capital will be used to scale product development, enhance AI capabilities, and expand the team to meet increasing demand from banks, NBFCs, and fintech platforms.
A Data-Driven Future for Financial Risk and Compliance
Founded in 2018 by Rajit Bhattacharya, Data Sutram has emerged as a key player in the alternative data intelligence. The company aggregates data from over 250 external sources—including satellite imagery, public records, and digital footprints—to provide real-time insights on customer behaviour, risk profiles, and fraud patterns.
"Traditional data often fails to capture the context of underserved and unbanked customers. Our platform helps financial institutions make smarter, faster decisions using non-traditional data," said Bhattacharya.
Strong Investor Confidence
Both B Capital and Lightspeed have a history of backing data-driven startups, and their participation signals strong confidence in Data Sutram’s vision.
“Data Sutram is solving a critical infrastructure problem in India’s financial sector—how to underwrite and onboard users when traditional data is missing or incomplete,” said a spokesperson from Lightspeed.
The company previously raised $3 million in 2023 from Bharat Innovation Fund and other institutional backers. This latest round brings its total funding to approximately $12 million.
Tapping Into a Growing Fintech Market
India’s booming fintech sector is creating a sharp demand for advanced risk management tools. With increasing regulatory scrutiny and evolving consumer behaviour, startups like Data Sutram are becoming crucial in helping financial institutions navigate compliance and fraud detection.
Clients using Data Sutram’s platform have reported a 45% reduction in fraud-related losses and significant improvements in underwriting efficiency, according to internal case studies shared by the company.
Sources:
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Entrackr: "Data Sutram raises $9 Mn in Series A round"
https://entrackr.com/news/data-sutram-raises-9-mn-in-series-a-round-9149674 -
BW Disrupt: "Data Sutram Bags $2.07M In Funding Round Led By Varanium Capital"
https://bwdisrupt.com/article/data-sutram-bags-207m-in-funding-round-led-by-varanium-capital-420768Entrackr+2BW Disrupt+2Growjo+2 -
Growjo: "Data Sutram: Revenue, Competitors, Alternatives"
https://growjo.com/company/Data_SutramGrowjo -
StartupHub.ai: "Lightspeed Venture Partners"
https://www.startuphub.ai/investors/lightspeed-venture-partners/MarketScreener UK+2Startup Hub+2Wikipedia+2 -
Wikipedia: "Lightspeed Venture Partners"
https://en.wikipedia.org/wiki/Lightspeed_Venture_PartnersVast Data+13Startup Hub+13Wikipedia+13 The Economic Times: "Fintech startup Data Sutram raises $9 million from B Capital, Lightspeed" https://economictimes.indiatimes.com/tech/funding/fintech-startup-data-sutram-raises-9-million-from-b-capital-lightspeed/articleshow/121321939.cms@EconomicTimes+1@EconomicTimes+1
About Data Sutram
Data Sutram is a Mumbai-based alternative data startup that provides contextual insights for financial decision-making. Its AI-powered platform enables banks and fintechs to understand customer profiles beyond traditional data points, helping to reduce fraud, improve compliance, and drive smarter lending decisions.
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