Context-aware AI firm Cogniquest raised $1.2 million in a seed funding round led by Cedar IBSI Capital. According to a statement from the company, Dexter Venture and more than 30 angel investors via AngelList and Congniphy US also participated in the round.
The money will go toward quickening the pace of product development, growing its in-house document intelligence platform, and reaching a wider audience in important sectors like finance, healthcare, and logistics.
According to Cogniquest, in addition to looking to expand internationally with a focus on the US and Asia-Pacific, it intends to integrate Conversational AI and GenAI into its product offerings.
The company stated that Dhiraj Sinha (former CEO of QuantGro and former CEO of CapGemini, Dell), Rajesh Bhat (former MD of Accenture), Anup Naik (Co-Founder of Zeliot), Vimal Singh (Founder of ReadyAsssist), Santosh Rao (CFO of Zeliot), Deepti Kalghatgi (Tech Entrepreneur), and Dr. Nirmal Bansal are among the angel investors that took part in the round.
“In a market that is changing quickly, Cogniquest’s novel approach to AI-driven document processing stands out. From our vantage point, we believe that the banking and financial services industry has a lot of potential for document intelligence technology,” stated Sahil Anand, Managing Partner of Cedar IBSI Capital.
The premier products of the Bengaluru-based company are CQ DICE (Document Ingestion and Chunking Engine), Table xTract, and infoRefinery, which manage complicated document scenarios with accuracy and comprehension comparable to that of a human.
“We are ecstatic to have the support of such influential investors who agree with our plan to redefine document intelligence. The tremendous potential our platform has to revolutionize document-centric workflows is demonstrated by this funding,” according to Satish Grampurohit, CEO and Co-Founder of Cogniquest AI.
