6.2 crores raised by Rubix data science, to be used in reducing financial risks

According to a report by business-standard.com, Rubix Data Science has raised about 6.2 crores of Indian rupees in total. Several family offices, high net worth individuals (HNIs), and the Cactus Venture partners were the ones to give the funds. The company highly appreciated the participation of these donors in the second round of funding of the Rubix data science. The company has thus promised to use the fund to better the technological world, that is, the world of data science, for a better tomorrow and fearless financial handling. 

The need for better technological development:

The company that raised the fund is a technology and analytics-based B2B Risk Management and Monitoring platform; that is, it works to handle the financial and technical advances, frauds, and several other factors that threat or challenge the industrial well-being and the well-being of the employees. In recent times, the economy of the world has been seen to collapse. There has been an advancement of the system that supports the “work from home” and the online payment options to maintain social distancing and stop the spread of infection from touching even the money. This online mode, in a way, has led to technological improvement and the advancement and making of several applications. If we consider the other way, we find several frauds due to these online platforms. Several hacking and other dreadful activities are going on through hacking. These cybercrimes need to be tracked to let an employee or an organization function smoothly without the fear of financial loss. 

The use of the fund:

The Rubix Data Science has promised to use the fund to improve the Rubix Automated Risk Management and Monitoring System (ARMS). The ARMS will now have a better technological and analytical update helping to trace, access, monitor, and solve the risks faced by the users. This advancement will again make the online mode easier and trustworthy for all of us.  

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