AutomataPi raises ₹3 Cr led by Indian Angel Network

AutomataPi is a digital process automation platform that helps organizations to automate their business processes using a cloud-native, highly scalable, distributed model.



Mumbai, February 8th 2021: AutomataPi has raised a seed round of ₹3 Cr from Indian Angel Network (IAN), led by KRS Jamwal, Jaideep Mehta, Prashant Pahade and Nitin Jain, Prashant Pahade will join the company's board. This round of funding will enable the company to scale sales channel partners and further develop the product to cater to more 2 more geographies and distribution channels with an aim to build a global enterprise automation SaaS business out of India.

Co-Founded in April 2017 by technology professionals with over 150 person years of cumulative enterprise experience, the company is led by a complementary team of focused entrepreneurs. AutomataPi is a Digital Process Automation platform helping organizations to automate their business processes. Its cloud-native proposition allows for a highly scalable, distributed model. The technology is backed by AI, ML, and NLP which converts unstructured data set into structured entities required for processing and smooth integration with existing operational systems.

AutomataPi's unique Pay Per Use model, enables enterprises - big or small - to integrate their solution to their existing enterprise systems to quickly ready themselves for the digital world. The solution provided is categorized under various segments such as Digital Process Automation (Forrester) or Intelligent Process Automation (Gartner, IBM), etc. On average, AutomataPi is automating half a million processes with over 10 million events per month. It is one of the most apt solutions for a large industry segment to swivel themselves for the post COVID / Social Distancing era.

The company has successfully undertaken 30 projects and has a large customer base. The likes of Mahindra Holidays & Resorts Limited, Centrum broking Limited, Essar Ports Limited, IIFL Securities, Umm al Quainn FTZ (UAE) and Masscom Global(UAE), all major brands are part of AutomataPi's customer portfolio. AutomataPi is now expanding to new geographies such as the Middle East and ASEAN countries and has had early wins in there.

Speaking on the latest development, Devesh Rao, CEO & Co-Founder of AutomataPi said, "At AutomataPi, 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% client retention through COVID-19. 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."

Commenting on the investment, Lead IAN Investor Prashant Pahade said, "Based on long and deep experience in process automation, Devesh and his team has 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."

About Indian Angel Network

Indian Angel Network is India's first and world's largest business angel network with close to 500 members across the world, comprising the who's who of successful entrepreneurs and dynamic CEOs. With investors from 12 countries, IAN's presence spans 7 locations, which includes cities in India and the UK. The network is sector agnostic and has funded start-ups across 17 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor-members, for the last 11 years. Some of its marquee investee companies include Druva, Box8, Sapience Analytics, WOW Momos, Consure, Fareye amongst many others.

IAN has also launched the IAN Fund, an INR 375 crore fund, is a uniquely differentiated seed/early stage Fund which aims to transform India's entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech and hardware. With this, IAN has created the single largest platform for seed and early stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.