Rubix Data Science raises Rs 6.2 crore from Cactus Venture, others

Proceeds will be invested in enhancing technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform

Rubix Data Sciences, a technology and analytics-based B2B Risk Management and Monitoring platform, raised Rs 6.2 crore in its second round of funding. The round saw participation from institutional investor Cactus Venture Partners, family offices and high net worth individuals (HNIs).

The funds raised in the current round will be invested in enhancing the technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform, said the company in a statement.

Mohan Ramaswamy, Co-Founder, CEO of Rubix Data Sciences, said, "As Covid-19 impacts the global economy, it has also enhanced the credit and fraud risk faced by businesses worldwide. This volatile environment has created new challenges for businesses in assessing and monitoring the financial risk of customers, distributors, dealers, suppliers and other third parties in India and overseas."

He added: "Businesses are currently facing higher than normal financial risk from their third-party relationships and need to address this immediately. Our aim is to enhance our proprietary technology and analytics platform that delivers deliver risk assessment, scoring and monitoring services to our clients.”

Rubix has over 200 customers from the banking, credit insurance and corporate sectors.