Every large company runs on documents. Purchase orders, invoices, contracts, compliance files. They move in and out every day. Yet most of this data remains stuck inside systems, spreadsheets, or PDFs, waiting for humans to manually read, verify, and compare.
That is the gap NineBit wants to solve.
Founded in 2023, Indore-based NineBit is building an AI-powered intelligence layer called CIQ that sits on top of an enterprise’s existing document systems. Instead of replacing tools, CIQ works with them, helping businesses extract data, detect errors, and automate routine document-heavy work.
The idea came from founder and CEO Rajeev Jamaiyar’s own experience.
Jamaiyar studied computer science at Manipal Institute of Technology and later completed an executive MBA from IIM Calcutta. He worked in Silicon Valley at Apple on the first version of iCloud, and later at SAP as an architect. While working in large organisations, he noticed a pattern. Innovation around AI was slow, and document workflows were still heavily manual.
“I wanted to build something that allows business owners to rapidly prototype on their own data,” he says. That thought became the foundation of NineBit.
He teamed up with his Manipal batchmates, Anirban Adak as CTO and Mohit Tripathi as head of marketing. While the company operates globally, its core team and R&D remain based in Indore.
NineBit’s product, CIQ, acts as an AI layer on top of enterprise content management systems. It uses large language models, both paid and open-source, to read documents, learn patterns, extract information, compare files, and flag gaps or discrepancies.
This is especially useful in sectors like logistics and finance, where teams deal with hundreds of invoices, purchase orders, and regulatory documents every day. Much of this work still depends on manual checks. CIQ automates those comparisons and highlights issues before they turn into costly mistakes.
NineBit follows a B2B model. During pilot projects, CIQ is hosted on cloud platforms like AWS or Azure, depending on client preferences. Once a deal is finalised, the platform is deployed within the client’s own infrastructure. For organisations with strict security needs, private hosting is also supported.
Building AI products was not easy in the early days. High-performance hardware is expensive, and convincing enterprises to trust a young startup took time. “Trust was a bigger challenge than technology,” Jamaiyar admits.
The company initially experimented with a B2C model, building niche tools like resume-sorting software. But revenue potential was limited. In 2023, NineBit made a clear shift to enterprise-focused solutions.
Today, the startup has around five clients across the US and Australia, spanning finance, HR, and real estate. Its first client came through Jamaiyar’s personal network, an Australian real estate firm that wanted AI-driven insights for property valuation.
NineBit charges between $10,000 and $20,000 per project in the US market. The SaaS platform helps onboard customers, while most revenue comes from customised development and deployment.
The startup is fully bootstrapped, funded with an initial investment of ₹20 lakh from the founder’s savings. With revenue already flowing in, NineBit expects to reach break-even soon. Fundraising is not an immediate priority.
Competition exists, with global players offering document AI solutions. But Jamaiyar believes there is still a large underserved market, especially among small and mid-sized enterprises that cannot afford big consulting firms.
Industry estimates place the document AI market at $3–4 billion today, with rapid growth expected over the next decade. NineBit’s short-term goal is to cross $100,000 in revenue, followed by a longer-term milestone of $1 million.
One major validation came when NineBit was selected for a national AI testing programme run by the National Technical Research Organisation at IIT Delhi. The startup tested CIQ on government data within a secure environment. “That kind of validation builds confidence with customers,” Jamaiyar says.
Looking ahead, NineBit plans to expand internationally, with Dubai likely to be its first overseas base. The team is also preparing to re-enter the Indian market with a more mature, enterprise-ready product.
In a world drowning in documents, NineBit is betting that the real value lies not in storing them, but in finally understanding them.
