How NineBit is building an AI layer to help enterprises unlock value from their documents

Across large companies, documents flow in and out every day through purchase orders, invoices, regulatory files, and more. But most of this information stays locked inside traditional systems, making it hard to extract data, catch errors, or automate routine work. In sectors like logistics and finance, this slows down decisions and keeps teams dependent on manual checks.

Indore-based NineBit wants to change this with CIQ, an AI-powered intelligence layer that sits on top of an organisation’s existing document systems. The startup, founded in 2023, is building tools that allow enterprises to quickly prototype, automate, and analyse documents using large language models. “I wanted to build something that allows the business owner to do rapid prototyping on their own data,” says Co-founder and CEO Rajeev Jamaiyar. “That motivation shaped the platform we have today.”

From Silicon Valley to Indore

Jamaiyar studied computer science engineering at Manipal Institute of Technology before pursuing an executive MBA from IIM Calcutta. His career took him to Silicon Valley, where he worked at Apple on the first version of iCloud—“the same iCloud that helps you find your iPhone,” he says. He later joined SAP as an architect working on a data realisation product.

The pace of innovation in large companies felt slow, especially around AI, and he was increasingly interested in building independently. “Things were moving pretty slowly in corporate. I wanted to do something really interesting in AI and build something of my own,” he says. 

Jamaiyar teamed up with his Manipal batchmates, Anirban Adak (CTO) and Mohit Tripathi (head of marketing), to start NineBit. The company is headquartered in Indore, with its core operations and R&D team based there.

What NineBit builds

NineBit’s flagship product, CIQ, functions as an intelligence layer on top of enterprise content management (ECM) systems. Jamaiyar describes it as “a layer on top of the ECM that corporates set up,” designed to extract information, compare documents, identify gaps, and automate routine workflows.

At the heart of CIQ is its use of large language models, both paid and open-source, that can read documents, learn patterns, and extract useful information without manual effort. This helps companies spot errors and automate routine checks. Jamaiyar says the strongest demand comes from logistics and finance, where teams handle invoices, purchase orders, and regulatory documents daily. “They are looking for an AI solution that identifies gaps and flags discrepancies,” he says, especially in areas where people still compare documents manually.

How enterprises use CIQ

NineBit follows a B2B model. For pilots, the team hosts CIQ on AWS or Azure, depending on where a client keeps its data. Once the client signs on, NineBit deploys CIQ within the organisation’s own environment, offering development and deployment services. Some customers also require private hosting for security reasons.

The startup maintains its own data-centre-grade hardware to operate CIQ internally. “AI demands high cutting-edge hardware, and that is still costly,” Jamaiyar says. The early challenge was not just hardware, but also trust, as customers hesitated to adopt AI from a young startup.

Clients and revenue

NineBit pivoted from a small B2C experiment to a fully enterprise-focused product in 2023. In its early B2C phase, the team built niche tools, such as resume-sorting for a recruiter, but revenue caps made Jamaiyar reconsider the model. “B2C has limitations in terms of how much revenue you can generate,” he says.

Today, the startup has around five clients across the US and Australia, including customers in finance, HR, and real estate. Its first client came from Jamaiyar’s personal network, an Australian real estate firm looking to predict property valuation trends for its customers.

The startup charges between $10,000 and $20,000 per project in the US market. The SaaS platform serves as the entry point for pilots, while revenue comes from development and deployment within the client’s environment.

The startup remains fully bootstrapped, with an initial investment of Rs 20 lakh from the founder’s savings. “I am seeing a lot of traction in the US market. I want to go ahead for one more year before thinking about raising funds,” Jamaiyar says. The startup expects to reach break-even soon, with revenue already flowing in from Australia and ongoing discussions with Indian and US companies.

Competition and market

In the enterprise AI and document automation space, NineBit’s competitors include global players like Lexion, among others. But Rajeev believes the opportunity is far from crowded. Small and medium enterprises, he says, do not always have access to large consulting firms or expensive AI solutions, leaving a wide-open market for lean platforms like CIQ.

According to the GM Insights report, the CIQ-style “AI layer on documents” sits inside the Intelligent Document Processing (IDP) / Document AI market, which is about $3–4 billion in 2025 and projected to grow to roughly $30–50 billion over the next decade, at around 25–35% CAGR. Jamaiyar expects the startup to hit its first target of $100,000 in revenue early next year, followed by a long-term milestone of $1 million.

Pipeline and growth plans

One of the biggest milestones for the startup this year has been its participation in a national-level AI testing programme run by the National Technical Research Organisation at IIT Delhi. NineBit was selected in two out of three categories and got the opportunity to run CIQ on government data inside a secure data centre. “That is the level of validation we are getting right now,” Jamaiyar says. “It helps us go to customers with more conviction.”

In the coming year, NineBit plans to expand internationally, with its first overseas office expected in Dubai once the company crosses the $100k revenue threshold. The team is also focused on strengthening traction in the US and eventually re-entering the Indian market with a more mature product.