Stockholm and London-based EvoluteIQ, an AI-powered intelligent business automation platform, has secured $20M (approximately €18.5M) in equity and debt funding.
The round was led by Round2 Capital and saw participation from Nordea Growth Fund, DCAP Select and PH ventures.
Hriday Ravindranath, Chief Digital & Information Officer at Orange Business and Board Advisor of EvoluteIQ, says, “The AI revolution is ushering in an unprecedented scale of change across industries worldwide. To effectively navigate this transformative landscape, enterprises must select AI-driven technologies capable of delivering authentic, impactful business transformation within accelerated timelines.”
“Over the years, I have observed EvoluteIQ’s unwavering commitment to its vision of simplifying and automating intricate end-to-end processes to achieve precisely these outcomes.”
Capital utilisation
The raised capital will support EvoluteIQ’s plan to enhance its AI automation platform and expand operations globally.
Sameet Gupte, co-founder & CEO of EvoluteIQ, says, “We are humbled to have the continued support of our investors as we execute on our vision to drive the next wave of enterprise transformation. We remain committed to delivering disruptive, scalable solutions that streamline the automation journey for our clients.”
Democratising enterprise digital transformation
Founded in 2019, EvoluteIQ aims to transform business automation through advanced use of data and AI. Driven by a vision to simplify enterprise software, the company developed the EIQ Platform, offering a reimagined approach to automation. EIQ enables organisations to automate tasks without needing advanced technical skills.
Rather than integrating existing technologies, EvoluteIQ aimed for a complete overhaul, introducing “absolute automation” as its guiding principle.
EvoluteIQ offers an AI-driven platform for end-to-end automation, designed to help businesses improve processes, cut costs, and grow efficiently.
The company’s low-code/no-code platform combines tools like AI, data processing, automation, and app development to make digital transformation easier for companies in fields like healthcare, finance, and insurance.
EvoluteIQ’s platform, EIQ, is popular with large companies worldwide, including many Fortune 500 organisations, and is showing “strong growth” in revenue.
Brief about the lead investor
Vienna-based Round2 Capital is a pan-European growth investment firm managing €180M. Since 2017, it has specialised in revenue-based finance and growth equity investments, supporting digital and sustainable business models across Europe, including the DACH region, Nordics, and the UK.
Speaking about the investment in EvoluteIQ, Christian Czernich, co-founder & CEO at Round2 Capital, says, “EvoluteIQ has consistently proven its ability to deliver tangible value to enterprises through its robust automation platform.”
“We are excited to support EvoluteIQ as they continue to push boundaries in AI and automation and drive exceptional outcomes for their global customer base.”
Round2 Capital has invested in 37 software and tech scale-ups across nine European countries.
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