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Artificial intelligence startup Innefu Labs today said it has raised USD 2 million (over Rs 12 crore) in funding from IndiaNivesh Venture Capital Fund.
The series A funding will see IndiaNivesh acquiring a minority stake in the company, Innefu Labs said in a statement.
The transaction was facilitated by Sweat Equity Partners.
The funds raised will be primarily used to enhance the AI platform that supports various law enforcement agencies for predictive intelligence and facial biometrics.
"We are a completely 'Made in India' company providing indigenous product solutions to our customers in India and abroad. We have the right blend of domain expertise with tech know-how to compete with the best in the world," Sharma said.
IndiaNivesh Venture Capital is a Rs 150 crore fund that has invested in 5 businesses so far.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)