Noida-based data analytics and AI platform Lumiq is set to raise Rs 50 crore (around $5.2 million) in a fresh Series B funding round led by Bajaj Finserv Ventures, with participation from existing investor Info Edge. This will be the company’s first funding round in nearly four years, following its $5.5 million Series A raise led by Info Edge in October 2022, which was exclusively reported by platform. The board at Lumiq has passed a special resolution to issue 2,511 Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 1,99,111.66 per share to raise the aforementioned amount, according to its regulatory filings sourced from the Registrar of Companies (RoC).

Following the allotment of the latest infusion, Info Edge will remain the largest external shareholder in Lumiq with a 27.76% stake in the firm. Bajaj Finserv Ventures follows with a 10.23% holding in the company. Meanwhile the co-founders, Mohammad Shoaib and Vaibhav Dobriyal will retain 30.05% and 9.05% stakes, respectively.

The company is yet to file its financial statements for FY26. In FY25, its operating revenue grew marginally to Rs 71.79 crore from Rs 68.78 crore in FY24, while losses widened to Rs 21.64 crore from Rs 8.30 crore during the same period.

About Lumiq

Lumiq has been founded by Shoaib Mohammad and Vaibhav Dobriyal. Lumiq is a data and AI platform focused on the BFSI sector. The company helps banks, insurers, and other financial institutions build and manage data platforms through its flagship product, emPower. Lumiq claims to have delivered more than 40 implementations globally and employs over 350 data and AI specialists.