Govt’s Digital Push Lands Innefu .₹ 5.5 cr
GREEN SIGNAL Govt has been increasingly promoting the use of tech, like data analytics in multiple projects TARUNWIG CEO, Innefu Labs
Bengaluru: Security startup Innefu Labs has clocked a revenue of ₹ 5.5 crore so far this fiscal, of which more than ₹ 3.5 crore has come in the past three months alone, thanks to the government’s push to use digital technology. The four-year-old company — which counts DRDO, RBI, CRPF and BSF, among its clients — has signed two large deals with paramilitary and defence bodies worth a combined .₹ 3 crore. It has seen a doubling of demand since last year after it launched its data analytics product Prophecy, which can help intelligence agencies predict occurrence of complex events such as narcotics smuggling or terrorist attacks. “The government has been increasingly promoting the use of technology, like data analytics in multiple projects,” said Tarun Wig, CEO, Innefu Labs.
“There seems to be a general feeling in the government that if you keep using technology by foreign companies you put your country’s sensitive and critical information at risk.”
Prophecy uses big data and artificial intelligence to predict and prevent the occurrence of events based on multiple factors it gathers based on open source data.
The startup is looking to raise funds to expand its team in 2017.