BusinessWire India
Stockholm [Sweden], September 19: EvoluteIQ, the enterprise-grade, AI-native automation platform, today announced the successful close of a $53 million minority growth capital round. This investment is led by Baird Capital, a leading global private investment firm. This strategic infusion of capital will enable EvoluteIQ to supercharge its global expansion, deepen investments in its Bengaluru R&D Centre, and cement its leadership in the agentic AI-powered automation space across varied industries.
Founded in 2019, by a group of tech visionaries - Sameet Gupte, Sanjay Koppikar, Deepak Kinger, Arun Hiremath, and Naveen Prabhu, EvoluteIQ redefines automation of complex business processes through its breakthrough platform (EIQ), underpinned by its proprietary Agentic Mesh Architecture {aMa} and the AI Workbench. The platform delivers measurable outcomes across mission-critical operations in Banking & Financial services, Insurance, Healthcare, Telecommunications, and Manufacturing by orchestrating complete end-to-end business workflows.
EvoluteIQ's differentiated approach addresses the enterprise market's most pressing need: moving beyond fragmented AI tools to comprehensive, autonomous business process management. The EIQ platform sets the standard for agentic automation, enabling Fortune 500 enterprises to build autonomous, resilient, and future-ready systems that drive lasting growth.
Strategic Investment for Global Expansion
With support from Baird Capital's global platform, EvoluteIQ plans to scale its established business internationally while maintaining its strong Indian foundation. Baird Capital's Daina Spedding and Mark Donnelly will join the EvoluteIQ Board of Directors.
"The investment demonstrates our excitement for AI and reshaping automation," said Daina Spedding, Director in Baird Capital's Global Private Equity team. "EvoluteIQ has earned its place alongside other automation trailblazers, bringing deep expertise and addressing a critical AI need across the enterprises they serve. We are delighted to welcome EvoluteIQ into Baird Capital's portfolio."
Strong India Focus Drives Global Growth
India continues to be at the core of EvoluteIQ's growth strategy, housing the company's largest R&D centre in Bengaluru. The funding will enable significant expansion of the Indian operations, with plans to hire top talent and scale the team as the company builds next-generation technology for AI-led transformation.
"India has been instrumental in our journey, providing the technological backbone of innovation for our global success," said Sameet Gupte, Co-Founder & Chief Executive at EvoluteIQ. "We are privileged to partner with Baird Capital for EvoluteIQ's next phase as a company. The Agentic AI market represents a fundamental shift from reactive automation to proactive, intelligent orchestration. Baird Capital's expertise in scaling technology companies, network, and global resources will help us accelerate our journey, as we focus on driving transformative growth through outcome driven agentic models."
Major Industry Recognition and Market Leadership
EvoluteIQ's innovative approach has garnered significant industry recognition across multiple leading analysts across the industry, a few amongst them are:
- Gartner Recognition in the BOAT (Business Orchestration and Automation Technologies) market segment
- Gartner MQ in 2025 for RPA
- Everest PEAK Matrix for Low-Code Platforms as a "Major Contender"
- Everest Group's 'Innovation Watch' for Agentic AI Products
- Featured in Celent's Report on Generative AI in Insurance
- Recognized in Everest Group's Agentic AI in HR study
- Included in IDC's Unified AI and Agentic AI Platforms in Asia report
Strategic Fund Utilization
The investment will be strategically deployed across three key areas:
- Global Expansion: Hiring sales and marketing teams globally to accelerate growth and scale operations
- R&D Innovation: Continued investment in research and development to maintain leadership in the Agentic AI space
- Strategic Acquisitions: Identifying and acquiring complementary technologies and capabilities
Future Vision
EvoluteIQ's long-term vision centres on enabling organizations to automate their processes through the EIQ agentic AI platform at scale. The company believes the future lies in AI ecosystems where customers purchase outcomes through integrated platforms, with intellectual property encompassing not just technology but comprehensive enablement capabilities.
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