AI platform iTuring raises $5 million Series A for financial services push

iTuring.ai, an AI platform targeting the BFSI sector, raises $5 million in Series A funding led by Dallas Venture Capital and Mela Ventures to expand product development

iTuring.ai, an artificial intelligence and machine learning platform targeting the banking and insurance sectors, has secured $5 million in Series A funding led by Dallas Venture Capital and Mela Ventures.

 

The enterprise-grade platform, formerly known as CyborgIntell, develops AI solutions specifically for banking, financial services, and insurance companies. The capital will help iTuring expand its footprint in the BFSI sector, where demand for AI-powered solutions continues to grow as financial institutions seek to automate processes and enhance customer experiences through machine learning capabilities. The new capital will also be directed towards advanced product development and expansion of the US team.

 

“This funding allows us to accelerate our mission and bring AI-driven ROI to our clients faster,” said Suman Singh, founder and chief executive of iTuring. “We are now focused on building autonomous, agentic AI to solve last-mile challenges in customer acquisition, collections, underwriting, and fraud prevention.”

 

The platform addresses the sector’s complexity by integrating advanced automation for data preparation, feature engineering, model development, deployment, and ongoing monitoring. This is done all within a unified environment that meets the sector’s demanding regulatory and audit requirements. The company delivers its AI and ML platform to clients across India, South Africa, and the United States. In the US, it has established a strategic partnership with one of the world’s leading payment platforms, enabling them to drive customer revenue growth and realise significant cost savings.

 

 

“The iTuring.ai team is compressing months of data-science effort into hours. They are doing it through a true no-code, enterprise-grade AutoML and decision-AI platform,” said Gokul Dixit, Partner at Dallas Venture Capital. “We believe this ‘AI-as-a-decision-fabric’ theme will define the next decade of enterprise software and we are thrilled to partner with iTuring.”

 

The DVC Advantage Programme will connect iTuring.ai to a global network of advisors, partners, and new market opportunities, while Mela Ventures brings deep enterprise expertise and hands-on guidance in scaling operations and business development. Together, these partnerships are set to amplify iTuring.ai’s proven impact, accelerating innovation and expanding the reach of its compliant, explainable AI solutions across the financial sector.

 

“We believe some of the most valuable AI companies of the next decade would differentiate themselves on vertical specialisation, being deeply embedded in workflows, solving high-impact and domain-specific problems,” said Parthasarathy NS, managing partner at Mela Ventures. “The BFSI sector’s complexity, regulatory intensity, and data richness make it the perfect proving ground for domain-trained AI systems.”