Gurgaon- October 2022 Lythouse, has secured an undisclosed amount in Fund raise from Hyderabad headquartered SucSEED Indovation Fund and established Angel such as Gopinath Latpate as part of its pre-series round.
Lythouse started its operations in January 2020 as a safety tech company. With the motto of “making businesses & people safe in India” Lythouse with its proprietary product Lythouse Riskmatic Platform aims to save more USD 1 Billion for 12,000 businesses by helping them mitigate business risks and impact millions of human lives over next 4-5 years.
Lythouse helps businesses identify and alert any external risk to businesses because of any external event and mitigate the same in real time by using workflow provided by the platform. Lythouse uses AI/ML technology to identify real time external risks which can impact business continuity in terms of Revenue, Infra or human life. Lythouse riskmatic platform also comes with an employee facing app that gives the employees and their families the key alerts about the external location risks and access to our 24X7 command center in case they are caught in any unknown risks on road, home or anywhere. The platform also provides access to a verified list of police stations, ambulances, hospitals and other emergency related information based on their location.
Unlike typical media reports which do not add geo intelligence to any external event and floods us with SPAM news, Lythouse adds Geo Intelligence using its Insights Engine and ensures that only relevant insight with qualifiable risk is communicated to Businesses and their teams.
Lythouse has worked extensively during pandemic and helped save many lives by innovating products such as social distancing score, medical emergency services, 24X7 Command Center facility for employee safety and post pandemic hybrid workplace solutions. They have worked with large enterprise clients in IT, Insurance, Manufacturing & Retail industries.
Dhiraj Nauhbar, the Founder and CEO of Lythouse said, “There is a big gap in filtering the right set of information pertaining to external events that pose risk to your business and employees. Today there are hundreds of protests and more than thousands cases of riots reported across the country everyday which is a big risk to businesses and employees. Lythouse is out there to give the right set of insights to businesses and people at the right time in order to calculate & minimize the loss and mitigate the risk in a timely fashion. This product will impact and change how businesses look at logistics continuity, supply chain, human resources, manufacturing and infra safety. Recent rain caused floods in Bangalore are testimony to losses that businesses face due to external events.”
Dhiraj Nauhbar further added that “we will utilize these funds to go deep in technology by building data analytics algorithms using AI/ML and strengthening our operations by aggregating more emergency partners for on ground risk mitigation as we go 24/7 in operations”.
Pratik Sharma, the Co-founder & CTO of Lythouse said, “Artificial Intelligence and Machine learning today makes it possible to moderate and filter big data for right insights and that’s what Lythouse does to bring real time insights pertaining to external risks with geo intelligence to our customers. Our solutions have powered enterprises to save millions of dollars and priceless lives across India”.
Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Having worked in Senior Leadership roles in Enterprise Risk, Business Continuity & Resilience function in large global enterprises for over two decades, I am aware of the significant gaps which exists in Business environment and suf icient use-cases for an enabling platform. There are a number of Natural and man-made events that pose a risk to continuity of large enterprises. Lythouse collects granular safety data from several sources, uses AI tools and converts them into meaningful insights for business continuity. Lythouse’s can cater to MSMEs as well as MNCs, which increases their user base and scalability. We have seen their product evolving with early business adoption already and with our vast network of Risk Professionals & Business Leaders, we can help them with early market access too.”
Gopinath Latpate, the lead investor says, “Since inception, Lythouse’s mission towards citizen and business safety has resonated very well with me; they have always delivered on this promise even during the peak of pandemic; this has further increased my belief in their purpose. As technology matured, Lythouse has been able to provide data driven intelligence to the businesses and their employees. Lythouse risk matic platform holds a promise to be widely adopted technology by the company leadership in maintaining the business continuity.”