iTuring.ai, a trailblazing artificial intelligence startup based in Bengaluru, has raised $5 million (approximately INR 43.2 crore) in a Series A funding round led by Dallas Venture Capital (DVC) and Mela Ventures. The capital infusion will propel the development and global rollout of its cutting-edge zero-code AI and machine learning (AI/ML) platform, tailored specifically for the banking, financial services, and insurance (BFSI) sector.
Founded in 2018 by Suman Singh, Amit Kumar, Mohammed Nawas, and Srivalsan Ponnachath, iTuring.ai operates as a Software-as-a-Service (SaaS) provider, delivering a platform that empowers BFSI enterprises to harness vast datasets for smarter, faster decision-making. The zero-code interface enables non-technical users—such as loan officers, risk managers, and insurance underwriters—to deploy advanced AI/ML models without coding expertise. By offering intuitive tools like drag-and-drop interfaces and pre-built templates, the platform simplifies complex tasks such as fraud detection, credit risk assessment, customer segmentation, and claims processing.
The newly secured funding will accelerate iTuring.ai’s mission to democratize AI in the BFSI industry. The startup plans to enhance its platform’s capabilities, including integrating more advanced algorithms, expanding support for additional use cases, and improving seamless integration with existing enterprise systems. Additionally, the investment will fuel iTuring.ai’s expansion into global markets, targeting BFSI institutions beyond India to address the growing demand for accessible AI solutions.
Since its inception, iTuring.ai has focused on bridging the gap between sophisticated AI technology and practical business applications. The platform’s ability to automate data-intensive processes, such as regulatory compliance and real-time fraud monitoring, has positioned it as a game-changer in the BFSI sector. Its cloud-based infrastructure ensures scalability, allowing enterprises to handle increasing data volumes while maintaining robust security and compliance with regulations like GDPR and RBI guidelines.
“We are excited to partner with DVC and Mela Ventures to scale our vision of making AI accessible to every BFSI professional,” said Suman Singh, co-founder of iTuring.ai. “This funding will enable us to empower financial institutions with tools that drive efficiency, reduce costs, and unlock new opportunities in a data-driven world.”
iTuring.ai’s innovative approach has already garnered attention for its potential to transform how banks, financial firms, and insurers operate. By eliminating the need for technical expertise, the platform empowers organizations to leverage predictive and prescriptive analytics, enabling faster responses to market trends, customer needs, and potential risks. As the BFSI sector continues to embrace digital transformation, iTuring.ai is well-positioned to lead the charge in delivering AI-driven solutions that are both powerful and user-friendly.
With this $5 million investment, iTuring.ai is set to redefine the role of AI in the BFSI industry, fostering a future where data-driven decision-making is accessible, efficient, and impactful across all levels of an organization.
Naorem Mohen is the Editor of Signpost News. Explore his views and opinion on X: @laimacha.
Naorem Mohen
View More PostsNaorem Mohen is the Editor of Signpost News. Explore his views and opinion on X: @laimacha.
