SignalX, Hyderabad-based AI-powered governance risk management and compliance startup officially communicated that it has raised Rs 6 crore in the seed round which is led by 3Lines VC. Hyderabad Angels as a co-investor with 9Unicorns and a US-based VC fund have participated in this round.
Rajiv Roy, the Venture Partner at 3Lines, is joining the board of SignalX.
SignalX founded in the year 2018 by Govind Balachandran, Piyush Arora and Zakir Wahab. SignalX offers an AI-powered SaaS platform for corporate risk and due diligence for a comprehensive legal, financial, regulatory and reputational risk analysis. Furthermore it claims high-quality and fast turnaround research capabilities.
Govind Balachandran, CEO & Co-founder of SignalX said “Our due diligence AI is purpose-built to help risk management professionals across industries to execute a broad range of analyses and deal with a multitude of regular data streams to generate defendable risk assessments on counterparties and third-parties.” Furthermore, he also said “To expand our customer base and strengthen our core team, we will leverage the funding.
Apoorva Ranjan Sharma, Co-founder & Managing Director – 9Unicorns said, “With its ambitious and ingenious team, Signalx can expand its customer base and capitalize on this market need.