PremiumMumbai: Parthiv Group of Companies, led by entrepreneur and chartered accountant Rakesh Rathi, has invested $150,000 in Sapio Analytics, a government advisory firm with its offices in Mumbai, Palo Alto, and London. The investment is in the form of cash and equity shares in selected group companies of Parthiv Group.
The investment is done at Sapio Analytics’ last fair market valuation of $20 million and is aimed at deepening the expansion of Sapio into insurance and financing for micro and small-sized businesses, using innovative financial instruments offered by companies of the Parthiv Group, LCBidding.com, and InsureTech.
Sapio Analytics is an artificially intelligent shadow government support system, that provides policy-making support to governments using new-age technologies, particularly in the urban and rural administration, economic growth, law enforcement and intelligence, and healthcare departments.
“Sapio Analytics is currently seeking investments from selected investors as part of its ongoing bridge round, before getting into a round of growth capital driven global expansion. This funding by Parthiv Group is a demonstration of trust in our capabilities to strategically expand ourselves across domains and geographies, backed by our A.I. system connecting all our divisions", said Hardik Somani, Director of Sapio Analytics.
Founded by Somani, Ashwin Srivastava, Shripal Jain, and Viral Vora, Sapio Analytics is also led by ex-IRAS officer Prashant Nikam as its chairman, with support from managing director (Global) Ajay Pancholi, managing director (Overseas) Balkrishna V Choolun, and principal advisors Kamal Maheshwari and Dr. B S Tiwary. The team includes business leaders who have led multi-billion-dollar businesses in various capacities and government officers have played a key role in building their nations.
Srivastava is a regional mentor of change with NITI Aayog and is also on the board of advisors for Technology Coordination Committee, ICMR, while Somani is part of the committee of frontier technologies for heritage restoration by the Department of Science and Technology, Government of India. Nikam has been the Director of Police and Director of Personnel at the Ministry of Home Affairs. Dr Tiwary has led BSF and headed regional civil aviation security in the Government of India.
“This investment is an important step in our growth strategy, we hope this association will create a synergy between Sapio Analytics and Parthiv Group’s fintech businesses like Insure Efficient and LC Bidding. Sapio’s global expansion plan backed by their AI technology makes it the partner of choice for Parthiv Group," said Rathi.
Sapio Analytics has also been in the news for executing the first-ever smart digital census in the state of Uttar Pradesh with UPICON.
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