Cogniquest AI closes $1.2M in seed funding led by Cedar IBSI Capital
The company plans to utilise the funding to accelerate product development, scale platform, and expand market research.
, a player in the intelligent document processing space, raised $1.2 million in its seed funding round led by Cedar IBSI Capital. The round also saw participation from Dexter Venture and more than 30 angel investors through AngelList and Congniphy US, the company said in a statement.
The funds will be used to accelerate product development, scale its proprietary document intelligence platform, and expand market reach across key industries, including finance, healthcare, and logistics.
Cogniquest said it plans to incorporate GenAI and Conversational AI to enhance its product offerings and is also eyeing global expansion, focusing on the US and Asia-Pacific regions.
The angel investors who participated in the round include Dhiraj Sinha (Ex CapGemini, Dell and now Founder of QuantGro), Umashankar Malapaka (Ex Infosys), Visveswara Gupta (Ex Infosys), Rajesh Bhat (Ex MD Accenture), Anup Naik (Co-founder, Zeliot), Vimal Singh (Founder, ReadyAsssist), Santosh Rao (CFO, Zeliot), Deepti Kalghatgi (tech entrepreneur) and Dr Nirmal Bansal, the company said.
“Cogniquest’s innovative approach to AI-driven document processing stands out in a rapidly evolving market. Given our vantage point, we see a huge opportunity for document intelligence technology in the Banking and Financial services sector,” said Sahil Anand, Managing Partner, Cedar IBSI Capital.
The Bengaluru-based company’s flagship solutions include infoRefinery, Table xTract, and CQ DICE (Document Ingestion and Chunking Engine), which handle complex document scenarios with human-like comprehension and accuracy.
“We are thrilled to have the backing of such strategic investors who share our vision of redefining document intelligence. This funding is a testament to the trust in our platform’s capabilities and the immense potential it holds for transforming document-centric workflows,” said Satish Grampurohit, CEO and Co-founder, Cogniquest AI.
The enterprise-grade platform dedicated to intelligent document processing and automation, had onboarded industry veteran U B Pravin Rao, former COO of Infosys, and ex-NASSCOM Chairman; and Ralph Groce, former Wells Fargo CIO, to its advisory board in January.
Edited by Megha Reddy