IIT ISM Dhanbad alumnus raises $55 million for his company

SUBHASH MISHRA

Dhanbad, March 1: Sambeet Parija, an alumnus of IIT ISM Dhanbad and co-founder of 73 Strings, has successfully raised $55 million in Series B funding for his financial technology (FinTech) company. Parija, who graduated in 2014 with a B.Tech in Mining Engineering, currently serves as the Chief Product Officer (CPO) at 73 Strings.

AI-Driven FinTech Solutions

73 Strings specializes in AI-powered data collection, monitoring, and valuation services tailored for the private capital industry. The company employs artificial intelligence to enhance asset analysis, valuation, monitoring, and transactions, ensuring greater efficiency and accuracy for its clients.

This funding round was led by Goldman Sachs, with participation from Blackstone, Golub Capital, Hamilton Lane, and Broadhaven Ventures. Speaking on the investment, Parija stated, “This investment accelerates our ability to push the boundaries of AI, delivering unparalleled speed, precision, and transparency for our clients.”

Parija emphasized that 73 Strings is redefining private capital markets with AI-driven valuation monitoring and data extraction solutions. “With Large Language Models and advanced portfolio intelligence, we are building the smartest, most adaptive tools in the industry,” he said.

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Career Journey and IIT ISM Connection

Before co-founding 73 Strings in 2018, Parija gained extensive experience in the financial and investment sector. He served as a student placement coordinator at IIT ISM Dhanbad and held various roles, including:

• Financial Analyst Intern at Private Equity Pro Partners (Oct 2014 – Jan 2015)
• Intern at an Indian Private Equity and Venture Capital Firm (Dec 2014 – Jan 2015)
• Trainee at American Appraisal (Feb 2015 – July 2015)
• Analyst at Duff & Phelps (Aug 2015 – Feb 2017)
• Senior Associate at Duff & Phelps (March 2017 – May 2018)

Alumni Reactions

Ashok Kumar, General Secretary of Pan IIT Alumni India, expressed pride in Parija’s achievement. “We are elated over the success of a company co-founded by one of our alumni. This accomplishment is a testament to the innovation and leadership that IIT (ISM) fosters in its students,” he said.