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Intain Fintech looking to raise $2-m funding

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Singapore-based Intain Fintech, an Artificial Intelligence and blockchain-based software products firm, is in talks to raise another $2 million in funding, in exchange for a nominal stake. The firm is in talks with existing investors Blockseed Ventures and Hamon Private Equity, a part of Hamon Investment Group, for the funding.

Intain Fintech, which has a presence in India through an operating subsidiary Intain Technology, had raised a similar amount of seed funding in 2018.

“We are covered for whole of 2019, but in the next quarter (April-June) we will raise funding for further expansion and covering ourselves for 2020. We will raise a similar amount much in line with the seed-funding, with a very small dilution,” Intain Founder and CEO Siddhartha S told BusinessLine.

The company will also talk to some of the global blockchain-focussed investors for the fund-raising, which will be used to double the size of its AI automation laboratory and to set up a technology team in the US.

Intain Fintech has three subsidiaries — Emulya Fintech in Singapore, Intain Technologies in India, and Intain in the US.

Source: The Hindu