Bengaluru-based startup Hyperbots has successfully raised $6.5 million in a Series A funding round aimed at enhancing its development of AI-driven co-pilots designed for finance operations.
This investment was co-led by Arkam Ventures and Athera Venture Partners, with participation from new investor JSW Ventures alongside existing backers such as Kalaari Capital, Sunicon Ventures, and Darashaw & Company.
Innovating Finance Operations
Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots focuses on automating critical yet routine finance tasks. Their AI platforms tackle various functions, including invoice processing, reconciliation, accrual management, tax validation, and compliance checks.
These innovations aim to alleviate manual workloads and improve operational accuracy, particularly for mid-market enterprises in the United States.
Rajeev Pathak, co-founder and CEO of Hyperbots, emphasized the startup’s mission to revolutionize finance operations. “We are freeing human bandwidth for higher-order tasks,” he stated. The company’s proprietary AI models and workflow engine are designed to facilitate “straight-through” processing, significantly reducing the need for human intervention in tedious, error-prone tasks.
Expansion Plans and Future Innovations
The funds raised will be allocated toward expanding operations in the U.S. market and launching HyperLM, a proprietary large language model (LLM) that has been pre-trained on extensive finance and accounting data. HyperLM is expected to allow for more precise automation within complex finance workflows, setting Hyperbots apart in an increasingly competitive landscape of enterprise AI solutions.
Currently, Hyperbots boasts an impressive 99.8% accuracy in document processing and can reduce manual effort by up to 80%. The platform seamlessly integrates with existing enterprise resource planning (ERP), customer relationship management (CRM), and financial systems, aiding clients in modernizing their legacy operations.
With a workforce of approximately 55 engineers primarily based in Bengaluru, Hyperbots anticipates onboarding over 100 customers this fiscal year.
Bala Srinivasa, managing director at Arkam Ventures, expressed confidence in Hyperbots, noting their impressive accuracy and product range for such a nascent company. He highlighted the startup’s deep AI expertise combined with a strong focus on customer satisfaction as key factors for their backing.
