Deep Algorithm Secures $1.3M to Fight Payment Fraud with AI
Bengaluru based artificial intelligence startup Deep Algorithm has secured $1.3 million (approx. ₹10.8 crore) in a seed funding round led by Unicorn India Ventures, aiming to scale its fraud prevention platform tailored for digital finance.
Founded just last year, Deep Algorithm develops advanced AI-powered fraud detection solutions, helping fintech firms and digital payment systems prevent unauthorized transactions in real-time.
The company’s proprietary platform, known as adapIDAI, leverages machine learning and deep learning models to identify and mitigate risks instantly.
How the Funding Will Be Used
Team Expansion: Growing its AI engineering and data science teams Product Development: Accelerating R&D of its fraud detection technologies Market Expansion: Targeting financial institutions across India and Southeast Asia Infrastructure Upgrades: Investing in robust cloud-based security systems
Why It Matters:
As India’s digital payments ecosystem continues to grow rapidly, the need for AI-driven cybersecurity solutions has become urgent. Lead investor Unicorn India Ventures highlighted Deep Algorithm’s ability to offer real-time, scalable security solutions that financial institutions increasingly require.
“In today’s fintech landscape, real-time fraud detection is not optional but essential. Deep Algorithm’s innovative AI platform positions them to meet this demand efficiently,” said Anil Joshi, Managing Partner at Unicorn India Ventures.
