Data analytics startup Finarkein Analytics raised an undisclosed seed co-led by IIFL’s Fintech Fund and Redstart Labs, an Info Edge company where Aaryaman Vir Shah’s Prophetic Ventures, Pearl Agarwal’s Eximius Ventures, and angels such as Shalini Chhabra of Incipia Advisors, Chirag Jain of Ashika Group also participated.

Finarkein is a platform for data analytics. The funds would be used to create a secure compute environment for Open Digital Ecosystems (ODEs). Finarkein Analytics is developing a low-code workflow orchestration and data analytics platform for India's current and future ODEs. This allows businesses to rapidly prototype, test, deploy, and upgrade while the Finarkein platform handles data orchestration.

Executive Opinion

“ODEs are addressing the fundamental problem of access to quality, structured and authentic data. But our research and experience indicated another cross-industry challenge of making sense of data at speed and scale, while staying compliant with current and upcoming data laws like the Data Protection Bill. Finarkein’s products are addressing this by building a DIY analytics platform which provides organizations with a trusted execution environment," said Nikhil Kurhe, Co-founder and CEO of Finarkein Analytics, in a statement.

“Finarkein’s data engineering first approach putting developers at the forefront is something I haven’t seen done before in the open banking and open data space, absolutely pumped at the potential," said Vibhore Sharma, Partner, RedStart Labs and former CTO of Info Edge, in a statement.