Funding Announcement
On June 19, 2026, LUMIQ, an AI‑native financial services company, disclosed a pre‑Series B funding round of INR 50 crore. The round was led by Bajaj Finserv, one of India’s largest diversified financial services groups, and included participation from existing investor Info Edge Ventures.
Use of Proceeds
The capital will be allocated to four strategic priorities: expanding the go‑to‑market effort in the United States and Southeast Asia; deepening the decision‑making capabilities of the LiteCone platform; extending the AI‑agent workforce to cover additional financial‑services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms to embed LiteCone within existing institutional technology stacks.
Product Impact and Client Results
LUMIQ’s LiteCone platform deploys autonomous, auditable AI agents that read client files, apply institutional guidelines, and issue end‑to‑end decisions, escalating only cases that truly require human judgment. At a leading life insurer, the LEO AI agent now decides 75‑80% of underwriting cases without human touch, reduces policy‑issuance cost by roughly 25%, and compresses turnaround time from several days to under eight minutes while operating 24 × 7 with full auditability. Across its client base—spanning insurance, banking, and capital markets in India, the United States, and Southeast Asia—LUMIQ processes millions of decisions annually.
Management Commentary
Shoaib Mohammad, Co‑founder and CEO, emphasized the shift from AI assistance to AI decision‑making, noting that the platform’s decisions are accompanied by complete reasoning, policy cross‑references, and audit‑ready documentation. Vaibhav Dobriyal, Co‑founder and Chief Product Officer, highlighted the rapid deployment timeline, stating that a real financial‑services role can be transformed into a working AI agent within weeks.
Investor Perspectives
Lakshmi Iyer, Group President – Investments & CEO of Bajaj Alternates, expressed confidence in LUMIQ’s production‑grade AI agents and their ability to scale globally. Girish Jhunjhunwala, Fund Manager – PE and VC Investments at Bajaj Alternates, underscored the difficulty of cracking the regulated financial‑services sector and praised LUMIQ’s live‑workflow AI agents. Kitty Agarwal, Partner at Info Edge Ventures, reiterated the company’s ambition to lead auto‑decisioning at production scale for financial services.
Company Overview
LUMIQ employs 350 AI and data specialists and maintains offices in Delhi NCR (India), New Jersey (USA), and Singapore. The firm serves leading institutions across insurance, banking, and capital markets in India, the United States, and Southeast Asia, positioning its LiteCone platform as a consistent, explainable, compliant, and auditable decision layer for regulated financial workflows.