EvoluteIQ Secures USD 20 Mn in Funding Led by Round2 Capital to Enhance AI-Powered Automation Platform The investment will drive enhancements to EvoluteIQ's automation platform and support its ambitious global expansion plans.
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EvoluteIQ, an AI-powered business automation platform, has raised USD 20 million in a funding round combining equity and debt, led by Round2 Capital, with contributions from Nordea Growth Fund, DCAP Select, and PH Ventures.
The investment will drive enhancements to EvoluteIQ's automation platform and support its ambitious global expansion plans, according to the company.
"EvoluteIQ has consistently proven its ability to deliver tangible value to enterprises through its robust automation platform," noted Christian Czernich, Co-founder and CEO at Round2Capital. "We are excited to support EvoluteIQ as they continue to push boundaries in AI and automation and drive exceptional outcomes for their global customer base."
Founded in 2019 by Sameet Gupte, EvoluteIQ offers a low-code/no-code AI platform integrating generative AI, intelligent data processing, process automation, robotic process automation (RPA), and application development. This combination helps enterprises streamline complex workflows, reduce operational costs, and accelerate digital transformation without requiring extensive technical expertise.
"We are humbled to have the continued support of our investors as we execute on our vision to drive the next wave of enterprise transformation," Gupte, Co-founder and CEO of EvoluteIQ shared.
EvoluteIQ's platform has gained traction across multiple industries, including healthcare, banking, and insurance, with its EIQ platform adopted by Fortune 500 companies. This traction has fueled consistent growth in annual recurring revenue (ARR), reinforcing the platform's value in helping organisations achieve scalability and enhanced productivity.
As noted by Hriday Ravindranath, Chief Digital and Information Officer at Orange Business, "The AI revolution is ushering in an unprecedented scale of change across industries worldwide. EvoluteIQ's unwavering commitment to simplifying and automating end-to-end processes positions it uniquely to drive impactful business transformation within accelerated timelines."
