Fintech VC fund Cedar-IBSi Capital invests in Cogniquest
Summary
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), and Srinivas Majji to name a few.Cedar-IBSi Capital, which announced its first close in Q1 2024, is actively focusing on and evaluating B2B FinTech/BankTech opportunities, in light of the investment teams prior experience, and platforms history in this space. The company is founded by AI engineers, computational linguists and corporate IT leaders who have decades-long experience in working with global clients in building enterprise-grade products and solutions using cognitive technologies.Commenting on the investment, Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, said, The banking technology and infrastructure ecosystem is undergoing a silent disruption, with new-age players complementing and disrupting age-old monolithic systems, by bringing modular and easier-to-implement solutions. With the experience and expertise of our platform, our fund thesis is uniquely positioned to identify potential winners and help them grow.Subit Saurav, Associate Partner, Cedar-IBSi Capital added, We believe that AI is going to change the way businesses, particularly BFSI, operate in the next decade. Cogniquests platform and use cases help enterprises in improving business efficiency and knowledge management for financial institutions, in addition to bringing transparency for end customers. We will strive to uphold their trust and deliver substantial value.Fuelled by enthusiastic responses from clients and partners, we are excited about the opportunity to build a globally renowned enterprise tech SaaS platform from India.