Expanding Presence in India: EvoluteIQ Secures $53 Million in Funding to Enhance Operations
EvoluteIQ, a startup founded by Indian entrepreneurs, has secured $53 million in a funding round led by Baird Capital, the private investment arm of Robert W. Baird & Co. The funding, which also includes participation from Nordea Growth Fund, DCAP Select, and PH ventures, will be used to expand the company's operations, particularly in India, and invest in research and development (R&D) innovation in the agentic AI space.
Based in Bengaluru, India, EvoluteIQ orchestrates complete end-to-end business workflows through its enterprise-level automation platform. The platform, which operates in a low-code environment, enables end-to-end automation of processes and combines process orchestration, data integration, and GenAI-driven decision-making.
The London-based co-founder and CEO of EvoluteIQ, Sameet Gupte, expressed his gratitude for the support, stating, "India has been instrumental in our startup's journey, and we are excited to continue our growth here." The company plans a "significant expansion" of its operations in India, with plans to expand its R&D center in Bengaluru as part of its international expansion.
EvoluteIQ operates in various sectors such as banking and financial services, insurance, healthcare, telecommunications, and manufacturing. It has a presence in Bengaluru, Stockholm, London, New York, and Menlo Park, California.
The funds raised by EvoluteIQ will not only be used for expansion but also for hiring sales and marketing teams globally and driving acquisitions. This investment will undoubtedly propel EvoluteIQ forward in its mission to revolutionise business workflows through its innovative automation platform.
In the words of Sameet Gupte, "We are on a mission to automate the world, and this investment will help us get one step closer to achieving that goal." With its strong presence in India and its global expansion plans, EvoluteIQ is poised to make a significant impact in the world of business automation.
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