On Monday SignalX (1) stated that it had raised 750,000 USD as an investment from 3Lines Venture Capital. It is a US-based early-stage venture capital. SignalX, founded in 2018, is Hyderabad-based AI-powered risk management and compliance firm.
Rajiv Roy, Venture Partner at 3Lines, will join the Board of Directors of the startup, as per the company’s statement. Govind Balachandran founded SignalX; it offers an AI-powered SaaS portal for corporate risk and due diligence. It includes a comprehensive legal, financial, regulatory, and reputational risk analysis on any target firm. The company claims that its products have a fast turnaround and high-quality research capacities.
SignalX Provides AI-Powered Due Diligence to Professionals
Balachandran stated that the purpose of their Due Diligence AI is to assist the risk professionals across different sectors to perform a broad range of analyses. It includes from KYB (know your business) to intensified Due Diligence requirements.
He added that professionals use SignalX to perform valuation, acquisitions, mergers, forensics, and insolvency to serve their consumers across India and the USA. He said that they would utilize the latest fundings to enhance their core platform and open its SaaS application. It will enable risk and compliance professionals to use AI and run a comprehensive analysis and risk assessments. The analysis will give quick and high-quality results.
3Lines Venture Capital, based in Denver, Colorado, has a portfolio of 20 early-stage platforms in the USA and India since its beginning in 2016. Their investments focus on the customer-funded growth and AI-powered innovations that align powerfully with the business operations strategies of SignalX, stated Rajiv Roy.
Notably, SignalX was among the top three Telangana startups for Microsoft’s initiatives for “Highway to a Hundred Unicorn” earlier in 2020. The industry aims to help entrepreneurs to build and scale their companies. It offers cloud platforms, a partner ecosystem, and enterprise sales team. Microsoft has selected over 54 Indian startups.