Hyderabad: PadUp mentee company IntelleWings’ product based on machine learning to help regulatory firms with anti-money laundering compliance needs called EYE has raised seed funding of $1,00,000. The Panchkula-based startup IntelleWings raised funding from SucSeed Indovation.
IntelleWings’ EYE is an AML (Anti-Money Laundering) 360 software, which takes care of all AML needs – transaction monitoring, customer screening against global lists, integrated and comprehensive case management solution, and integrated PEP (Politically Exposed Persons Check/Adverse Media check).
PadUp Ventures is a knowledge and mentoring platform that helps incubators and accelerators with structured, process-driven programmes to build disruptive and innovative tech startups. It has mentored startups in different industry domains and using different technologies like AI, Blockchain, ML etc. It has partnered with incubators across government and educational institutions as well as corporates.
SucSeed Indovation Fund is an AIF Cat-1 Venture Capital Angel Fund with Rs 100 crore corpus and has grown out of SucSeed Angel Network (SAN) and IIIT-H tech ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation.
The CEO and cofounder of IntelleWings, Pramod Sharma said, “IntelleWings’ EYE will definitely contribute immensely in the nation’s fight against corruption and terrorism. The money raised will help us to grow the team, as there is a lot of traction for the product currently in the market and there is a need to meet different typologies/domains/countries.”
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.