Hyperbots, an AI startup specializing in finance and accounting, has raised $2 million in a seed round led by Kalaari Capital, with participation from Sunicon Ventures and Athera Venture Partners.
The funds will support the expansion of Hyperbots’ go-to-market strategy and product development, including the creation of proprietary generative AI models for finance and accounting.
Founded in 2023 by Rajeev Pathak, Niyati Chhaya, and Ram Jayaraman, Hyperbots provides end-to-end AI-powered tools for various functions, such as accounts payable (AP), accounts receivable (AR), and expense processing.
The company claims to have developed proprietary AI Assistants with human-like intelligence, designed to automate manual, analytical, and strategic tasks in finance and accounting.
Hyperbots targets the US mid-market segment, focusing on firms with revenues between $50 million and $1 billion. The platform integrates AI across all tasks for processes like procure-to-pay, order-to-cash, and expense management, reducing human involvement by 80%.
“We are excited to receive this support from our investors,” said Rajeev Pathak, co-founder of Hyperbots. “Our goal is to revolutionize the finance and accounting sectors with advanced AI solutions, making processes more efficient and less reliant on human intervention.”
The investment marks a significant step for Hyperbots as it aims to solidify its presence in the US market and continue its innovative advancements in AI technology for finance and accounting.
