Hyperbots is an AI startup that recently secured $2 million in its seed funding round as a part of a bigger funding round from Kalaari Capital. The funding round saw the participation of existing investors including Athera Venture Partners and Sunicon Ventures. The startup plans to use these fresh proceeds to meet market demand, scale its operations, enhance its platform, and for the general corporate purpose of the company.
The company secured $1.8 million during its seed funding round in January 2024. The round saw participation from its existing investors. The AI startup provides financial services-related tools for finance and accounting services. The platform offers services including AI assistant with automated manual, analysis, and strategic tasks. The application delivers personalized content for users with its advanced technologies. The startup offers automated accounting solutions using artificial intelligence.
The company also provides solutions for payment, transaction, and invoice management. The platform has services including deposit accounts, money transfers, bill payments, and expense management. The development came just when the AI startup saw increased interest from investors globally.
The Bengaluru startup targets companies that have revenues between $50 million to $1 billion. The company will use the investment to expand its services in the global AI market. Hyperbots use artificial intelligence for processes such as order to cash, and expense management to minimize human involvement by 80 percent. The startup provides AI assistance for finance teams and CFOs. The company has worked with more than 25 CFOs in just a year.
The firm focuses on solidifying its market presence in India and globally. The Co-founder of Hyperbots, Niyati Chhaya, highlighted the potential of creating human-like intelligence for accounting and finance purposes. The firm is working on models for processing documents like purchase orders, bills, contacts, and other data-driven automated prediction techniques for financial decision-making. The startup aims to change the finance operating processes in the US markets with the help of Kalaari Capital and other investors.
The partner at Kalaari Capital, Sampath mentioned that Hyperbots have a proprietary foundational IP and are focused on building a vertical finance model to change the finance and accounting ecosystem. The startup competes with other companies in the same segment.
Conclusion
Hyperbots is an Artificial Intelligence startup that secured $2 million from Kalaari Capital during its seed funding round with the participation of Athera Venture Partners and Sunicon Ventures. The company intends to use this fresh capital to enhance its AI capability, scale its operations, expand into the US market, and product development.
The platform provides AI-powered tools to offer financial and accounting services including accounts payable, expense processing, and accounts receivable. Hyperbots plans to target companies with revenue between 50 million USD to 1 billion USD. The company claims to have worked with over 25 CFOs in the past year. The startup has embedded AI in its tasks for processes such as expense management to reduce 80 percent human involvement.
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