Navikenz Raises $4 Million In Seed FundingThe platform is helping enterprises discover and implement AI enabled solutions to improve business processes

Navikenz, a consulting-led Artificial Intelligence (AI) services company, raised $4 million in Seed funding. The investment comes at a time when the firm is aiming to expand and further strengthen its position in the industry.

Founded in 2021 Navikenz is helping enterprises discover and implement AI enabled solutions to improve business processes and supplant "human effort with human intuition.'

"No company needs another line of code – it needs higher revenues and lower costs. Technology enables them to do that. People do not need employment, they need employability and a purpose – a reason to come to work every day. Our aim at Navikenz is to give people this sense of purpose, solving problems for customers in a way that makes them leap to log into their computers every day," said Anjan Lahiri, co-founder and CEO, Navikenz.

Navikenz has multiple clientele based in the US and India and in the next five years, the company aims to become a significant player in the IT Services space.

Since 2021, Navikenz is engaging Fortune 500 companies, recognize strengths of its AI-based solutions, such as business process consulting, enterprise architecture, Cloud and data science capabilities. According to a survey by McKinsey, AI adoption is continuing its steady rise: 56 per cent of all respondents report AI adoption in at least one function, up from 50 per cent in 2020. The newest results suggest that AI adoption since last year has increased most at companies headquartered in emerging economies, including China, the Middle East and North Africa. And across regions, the adoption rate is highest at Indian companies, followed closely by those in Asia–Pacific.