Sequoia-backed MobiKwik buys into data science startup Pivotchain

Ltd has invested Rs 2 crore ($294,000) in Pune-based data science company Pivotchain Solutions Technologies Pvt. Ltd. MobiKwik said in a statement that the artificial intelligence and deep learning models built by Pivotchain will be instrumental for its lending products. Pivotchain is a predictive analytics company with expertise in machine learning and artificial intelligence. The statement didn't specify the size of the stake MobiKwik bought in Pivotchain or the valuation. MobiKwik is preparing to roll out digital lending solutions in partnership with banks and non-banking financial companies (NBFCs).