iTuring.ai, an enterprise-grade AI/ML platform focused on the Banking, Financial Services, and Insurance (BFSI) sector, has raised $5 million in a Series A funding round led by Dallas Venture Capital (DVC) and Mela Ventures.
This latest tranche follows a previous investment of $1.19 million in the same round, co-led by SenseAI and Pentathlon Ventures, with additional backing from Ghosal Ventures.
Founded in 2018 by Suman Singh, Amit Kumar, Mohammed Nawas, and Srivalsan Ponnachath, iTuring.ai enables financial institutions to automate every phase of AI/ML deployment—from data preparation to model development and governance—through a zero-code, audit-ready platform.
The fresh capital will be used to accelerate the global rollout of iTuring’s proprietary platform, which aims to bring transparency, compliance, and operational efficiency to financial organizations embracing data-driven decision-making.
“Our vision from day one was to empower financial institutions to automate the full lifecycle of AI model development, deployment, and governance with a transparent, explainable, and audit-ready solution,” said Suman Singh, Founder & CEO of iTuring.ai.
Operating in India, South Africa, and the United States, iTuring has also established a strategic partnership with a global payment platform in the US, helping them drive revenue growth and achieve significant cost savings.
The company claims that its BFSI clients have seen rapid project delivery, dramatic reductions in manual work, and measurable improvements in predictive performance by using its platform.
As regulatory scrutiny and digital expectations grow across the BFSI sector, iTuring.ai positions itself as a critical enabler of scalable, compliant, and intelligent automation.
