[Funding alert] Digital automation platform AutomataPi raises Rs 3 Cr in seed round led by Indian Angel Network
Digital process automation platform AutomataPi on Monday announced that it had raised a seed round of Rs 3 crore from Indian Angel Network (IAN), led by KRS Jamwal, Jaideep Mehta, Prashant Pahade and Nitin Jain. Prashant Pahade will join the company’s board.
According to the official statement, this round of funding will enable the company to scale sales channel partners and further develop the product to cater to more geographies and distribution channels with an aim to build a global enterprise automation SaaS business out of India.
Speaking on the latest development, Devesh Rao, CEO and Co-Founder of AutomataPi, said, “Our automation platform enables enterprises to automate their complete lifecycle of business processes. During the COVID-19 pandemic outbreak, when several businesses were forced to switch to work from distributed locations, AutomataPi’s solution formed a hybrid bridge between the digital and enterprise ecosystems and I am glad to mention that we have had 100 percent client retention through COVID-19."
He added, "Going forward, our vision is to build a global enterprise automation SaaS business out of India. We are excited to have IAN and the angel investors on board and will leverage the capital raised to strengthen our platform in providing more cutting edge solutions to our clients.”
Co-Founded in April 2017 by Devesh Rao(CEO), Manjeet Khopkar(CTO) and Rahul Hattangdi(COO), the Mumbai-based startup is a digital process automation platform helping organisations to automate their business processes. The technology is backed by AI, ML, and NLP, which converts unstructured data sets into structured entities required for processing and smooth integration with existing operational systems.
Commenting on the investment, Prashant Pahade, Lead at IAN Investor, said, "Based on long and deep experience in process automation, Devesh and his team have reimagined and re-architected a solution leveraging AI/ML to help enterprises digitise and automate end-to-end processes. AutomataPI has quickly established a great product-market fit and we believe IAN can help them accelerate their growth trajectory."