Refold AI raises $6.5 Mn in seed round

Refold AI, an enterprise AI startup that provides an AI-driven platform to automate API integrations, has raised $6.5 million in a seed funding round co-led by Eniac Ventures and Tidal Ventures.

The proceeds will be used to grow the engineering team, enhance product integrations, and support its expanding enterprise customer base, Refold AI said in a press release.

The company emerged from the founders' previous venture, JustDoc, which was sold to Netmeds in 2018.

Co-founded in 2023 by Jugal Anchalia and Abhishek Kumar, Refold AI aims to replace traditional middleware and manual coding with AI agents that can learn system behavior, write and maintain integration code, and adapt to software changes.

The Bengaluru- and San Mateo-based startup seeks to reduce the $350 billion enterprises spend annually on manual integrations and consulting. Its platform is currently used to manage workflows such as ERP-to-CRM syncing, finance automation, and supply chain operations.

"Enterprise systems are often heavily customized. Even if two companies use the same ERP platform, their configurations and data structures can differ significantly. This means each integration must be built separately, even when the underlying ERP software is the same,” said Jugal Anchalia, CEO and co-founder of Refold AI.

The company serves over 30 enterprise customers and supports more than 1,500 active users, processing over 30 million API calls per month. It plans to deepen its integration catalogue and move toward seamless, low-friction deployment to support enterprises modernising their AI stacks.