EvoluteIQ Secures $53 Million for Global Expansion

EvoluteIQ, an AI-native automation platform based in Sweden, has secured $53 million in investment from Baird Capital. The funds will be used for global expansion, enhancing R&D innovation, and strategic acquisitions, particularly focusing on their Indian R&D center in Bengaluru.

EvoluteIQ, the AI-native automation platform, has announced securing $53 million in a minority growth capital round from Baird Capital. This significant investment is set to propel the Sweden-based company's global expansion, fuel R&D innovation, and support strategic acquisitions.

With over 70 percent of its workforce in India, EvoluteIQ is focusing on its Bengaluru R&D center to bolster its AI-powered automation capabilities across industries. The funding is expected to drive considerable growth in the company's Indian operations, reinforcing India as a vital component of EvoluteIQ's strategy.

The firm plans to utilize the capital to hire top-tier talent and expand its team in India, underlining its commitment to developing next-generation AI technology. EvoluteIQ's successful fundraising highlights the growing investor confidence in AI-driven transformation initiatives.

(With inputs from agencies.)