July 23, 2025: iTuring.ai, previously branded as Cyborg Intell, an enterprise-grade AI/ML platform for the Banking, Financial Services & Insurance (BFSI) sector, has raised $5 million in Series A funding led by Dallas Venture Capital (DVC) and Mela Ventures. The investment will accelerate the rollout of iTuring.ai’s proprietary, zero-code platform, which enables banks and insurers to automate every stage in the deployment of data science and machine learning.

The platform addresses the sector’s complexity by integrating advanced automation for data preparation, feature engineering, model development, deployment, and ongoing monitoring - all within a unified environment that meets the sector’s demanding regulatory and audit requirements. The company delivers its AI/ML platform to clients across India, South Africa, and the United States. In the U.S., it has established a strategic partnership with one of the world’s leading payment platforms, enabling them to drive customer revenue growth and realize significant cost savings

DVC Advantage Program will connect iTuring.ai to a global network of advisors, partners, and new market opportunities, while Mela Ventures brings deep enterprise expertise and hands-on guidance in scaling operations and business development. Together, these partnerships are set to amplify iTuring.ai’s proven impact, accelerating innovation and expanding the reach of its compliant, explainable AI solutions across the financial sector.

Speaking on this, Gokul Dixit, Partner, DallasVenture Capital shared, “At Dallas Venture Capital, we are inspired by founders who marry deep domain expertise with the vision to re-imagine how software is built and consumed. The iTuring.ai team is doing exactly that—compressing months of data-science effort into hours. They are doing it through a true no-code, enterprise-grade AutoML and decision-AI platform. We believe this ‘AI-as-a-decision-fabric’ theme will define the next decade of enterprise software and we are thrilled to partner with iTuring. Through the DVC advantage program, we aim to assist them accelerate their global expansion and help every enterprise turn data into trusted decisions in real time.”

“At Mela, we believe some of the most valuable AI companies of the next decade would differentiate themselves on vertical specialization, being deeply embedded in workflows, solving high-impact & domain-specific problems. The BFSI sector’s complexity, regulatory intensity, and data richness make it the perfect proving ground for domain-trained AI systems. Powered by AI-ML, the iTuring platform provides a secure, scalable data infrastructure layer for the BFSI sector.,” added ParthasarathyNS, Managing Partner at Mela Ventures.

The new capital will be directed towards advanced product development, expansion of the US team, and scaling the platform’s autonomous AI capabilities for mission-critical BFSI applications.

“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. “This funding allows us to accelerate our mission and bring AI-driven ROI to our clients faster. We are now focused on building autonomous, agentic AI to solve last-mile challenges in customer acquisition, collections, underwriting, and fraud prevention.”

iTuring.ai clients in the BFSI sector have reported rapid project delivery and significant reductions in manual effort, with measurable gains in predictive performance. With this new investment, iTuring.ai will not only benefit from additional capital but will also leverage the strategic support of Dallas Venture Capital and Mela Ventures.

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About Dallas Venture Capital

DVC is a Dallas TX, US and Hyderabad, India based venture capital firm investing in Enterprise software product startups. In addition to providing capital and financing needs, our investment philosophy centers around guiding business development, product, and technology strategy for our portfolio companies through the ‘DVC Advantage’ program to achieve successful outcomes.Operating from both the US and India, DVC creates a bridge that connects two of the largest start-up ecosystems in the world. DVC is co-founded by Dayakar Puskoor, a pioneering Dallas based venture capitalist with a record of investments in 40+ companies.

For more information on DVC, please visit www.dallasvc.com

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About Mela Venture

Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for early-stage companies. With a goal to build next-gen entrepreneurs, the fund focuses on building a portfolio in areas, such as Enterprise Tech and AI, Climate Tech, and Deep Technologies. Mela Ventures was founded by Industry veterans, Krishnakumar Natarajan and Parthasarathy NS who have co-founded Mindtree and taken it from a startup to a multi-billion-dollar revenue enterprise. For more information, visit https://www.melaventures.in/

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About iTuring.ai

iTuring.ai is a zero-code enterprise AI software company focused on the BFSI sector. Our next-generationAI platform streamlines the entire lifecycle of data science and machine learning, enabling organizations to rapidly develop, deploy, manage, govern, and operationalize AI applications at scale—ethically and responsibly. iTuring.ai is built to deliver transparency, accountability, compliance, and reliability across every phase of model development, deployment, and operation.

iTuring.ai is founded by Suman Singh, Amit Kumar, Mohammed Nawas & Srivalsan Ponnachath. For more information, visit www.ituring.ai.

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