Business automation platform EvoluteIQ raises $20 Mn

EvoluteIQ, a business automation platform, has raised $20 million in equity and debt funding, led by Round2 Capital, with participation from Nordea Growth Fund, DCAP Select, and PH Ventures. According to a press release, the funds will be used to enhance EvoluteIQ's AI automation platform and support global expansion.

Founded in 2019 by Sameet Gupte, EvoluteIQ provides an AI-powered end-to-end automation platform through a low-code/no-code approach. The platform combines generative AI, intelligent data and event processing, process automation, RPA, web/mobile application development, and built-in connectors to simplify and accelerate enterprise digital transformation. EvoluteIQ helps organizations optimize workflows, reduce operational costs, and drive scalability across various industries.

EvoluteIQ aims to deliver a comprehensive, productivity-enhancing solution designed to minimize operational complexity and speed up digital transformation by integrating AI at its core. With a robust feature set, adaptability, and a user-friendly design, the platform enables businesses to implement automation initiatives seamlessly, even without extensive technical expertise.

The company reports strong momentum and a growing customer base across industries like Healthcare, BFS (Banking and Financial Services), and Insurance. EvoluteIQ’s EIQ platform has been rapidly adopted by F500 organizations globally, contributing to consistent growth in its annual recurring revenue (ARR) over recent years.