Hyperbots Bags $6.5 Mn To Automate Finance & Accounting Ops

SUMMARY

Additional investors participating in the round include JSW Ventures and existing investors such as Kalaari Ventures, Sunicon Ventures and Darashaw

The startup plans to deploy the newly raised capital into accelerating Hyperbots’ market reach in the US region

Last year Bengaluru-based Hyperbots raised $2 Mn in a seed funding round led by Kalaari Capital

Agentic artificial intelligence platform for finance, Hyperbots, has secured $6.5 Mn (around INR 55 Cr) in a Series A funding round co-led by Arkam Ventures and Athera Venture Partners.

The round also saw participation from JSW Ventures, along with existing investors, including Kalaari Ventures, Sunicon Ventures and Darashaw & Company.

The company plans to use the fresh capital to expand its market reach in the US, besides, building new AI co-pilots for finance teams, including the launch of its large language model (LLM) HyperLM, which is trained exclusively on finance and accounting (F&A) data.

“Securing this investment is far more than fresh capital. It is our springboard for a new era of finance and accounting transformation in the US mid-market,” said Rajeev Pathak, cofounder and chief executive of Hyperbots.

“With our proprietary, domain-trained AI models and agentic workflow engine, we can finally automate the heavy, error-prone work that’s been holding finance teams back. This round gives us the resources to deepen our research and development, and build a go-to-market (GTM) ecosystem,” he added.

Founded in 2023 by Pathak, Niyati Chhaya and Ram Jayaraman, Hyperbots has developed proprietary AI assistants, which have human-like intelligence, to automate manual, analytical, and strategic tasks in finance and accounting, reducing human involvement by 80%.

The company claims to have more than 100 clients in the current fiscal year, while serving clients in the US across industries, including healthcare, media, and mid-market enterprises in manufacturing, robotics, electric vehicle infrastructure, apparel and retail, construction, oil and gas distribution, pharma, as well as real estate.

The Bengaluru-based startup previously raised $2 Mn in a seed funding round led by Kalaari Capital, with participation from Sunicon Ventures and Athera Venture Partners, last year.

To note, Hyperbots was featured in Inc42’s monthly series “30 Startups To Watch In September 2024”.

Hyperbots competes with startups such as OnFinance AI, among others.