UditTookitaki, which is an enterprise technology startup has now secured $11.7 million in the extended funding round of Series A led by the global investors which bring the total size of the Series A investment to be $19.2 million.
The company was founded in 2014 by the Abhishek, Tookitaki is headquartered in Singapore, with its offices in US and India, and helps banks to fight money laundering via its AI-powered solutions.
“We are planning to increase our headcount in India by 3x and also plan to expand our research and engineering team in India under the leadership of our VP research and engineering Subhas Samanta,” said Abhishek Chatterjee, CEO & Founder of Tookitaki.
“We found Tookitaki’s approach to be very unique, its pragmatic way of creating an overlay on top of legacy AML systems helps increase accuracy and significantly lower operating costs for financial institutions. Moreover, its regulator-ready “glass box” solution shows an innovative approach and a deep understanding of the challenges in the modern AML solutions market,” said Michaeli.