Funds for Canadian No-Code Data Query Platform Lumi

Toronto, Canada-based self-service insights and analytics platform Lumi AI has secured $3.7m in a seed funding round, with which to expand its conversational analytics platform and help client firms find insights in their data.

Lumi says business spend billions on Business Intelligence tools but 'still struggle with slow, manual analytics processes', and therefore miss valuable financial opportunities buried in complex ERP data (enterprise resource planning). The firm's AI platform features a chat module through which users can simply explore data, generate visuals and extract tailored insights, using plain language. The platform is powered by a proprietary analytics engine and features multi-agent applications designed to streamline routine data tasks. Lumi says it can 'cut time-to-insight from 7 days to 30 seconds'.

The seed round was led by West Coast supply chain solutions VC firm AgFunder, with participation from B2B SaaS investors Forum Ventures, Abu Dhabi sovereign wealth fund ADQ, Qora71 syndicate and other angel investors. Lumi AI will them to expand its engineering and customer success teams, accelerate feature development, and support a growing client base which includes mid-sized CPG and third party logistics businesses as well as major corporates.

'We founded Lumi AI to break down the barriers between businesses and their data' says Co-founder and CEO Ibrahim Ashqar (pictured). 'With this funding, we're accelerating our mission to help companies democratize access to intelligence and transform decision-making at scale'. He adds: 'AgFunder's expertise in supply chain innovation makes them an ideal partner to help us empower businesses globally to unlock the full potential of their operational data'.

The firm is online at www.lumi-ai.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.