In a pre-seed investment round headed by notable angel investors and accelerator and startup ecosystem booster PedalStart, New Delhi-based AI-native anti-money laundering (AML) research startup InsightAI has raised 1.1 crore.

In order to comply with international regulatory standards, InsightAI will use the recently obtained pre-seed capital to improve AML case investigations for financial institutions, increase its footprint in India and the Middle East, and improve its data protection, auditability, and regional compliance capabilities.

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It will also concentrate on hiring in the areas of business growth, infrastructure, security, and AI.  With the help of system integrators and smart local alliances, the business also hopes to establish a strong sales pipeline that targets top banks and payment companies in both areas.

With its patented AI-powered models and technological solutions, InsightAI is revolutionizing AML investigation and compliance automation for banks and payment businesses worldwide.

The business, which was founded by IIT alumni, asserts that it has created a deeptech solution supported by substantial research and development, fusing strong technological know-how with a profound comprehension of the practical difficulties encountered by contemporary financial institutions.  According to the statement, it is now collaborating with one of the top banks in the United Arab Emirates.

“We are thrilled to announce the pre-seed investment from PedalStart,” stated InsightAI co-founders Akash Chandra and Vivek Kumar.  It will enable us to position ourselves as a key intelligence layer in the dynamic ecosystem of risk management and compliance.  We have already prototyped our flagship product with robust performance benchmarks as we expand and traverse the intricate global financial technology ecosystem.  We are prepared for enterprise-grade product growth as we enhance the robustness, security, and cloud-agnosticness of our platform, making it deployable across several regions, thanks to the pre-seed money.  In the future, we want to establish ourselves as a top innovation partner for international banks and payment corporations, beginning with establishing our headquarters in Dubai and providing services to a number of significant Middle Eastern players.

“With its cutting-edge technology and strong execution focus, InsightAI is meeting a critical need in the compliance and risk management market.  The maturity of their product and vision is a reflection of Vivek and Akash’s extensive domain knowledge and technological proficiency.  We at PedalStart think their invention has the power to completely change how financial institutions bolster compliance frameworks around the world.  Manas Pal and Aditya Darolia, co-founders of PedalStart, stated, “We are thrilled to collaborate with them on this journey and support their growth as they scale across markets.”