News on Medial

Hyperbots raises $2 Mn in seed round from Kalaari, others

Entrackr · 4m

Hyperbots, an AI startup for finance and accounting, has raised $2 million in its seed round led by Kalaari Capital with participation from Sunicon Ventures, and Athera Venture Partners. The proceeds will be used in expansion of Hyperbots’ go-to-market strategy and product development including the development of proprietary generative AI models for finance and accounting. Founded in 2023 by Rajeev Pathak, Niyati Chhaya, and Ram Jayaraman, Hyperbots offers end-to-end AI-powered tools for various functions, including accounts payable (AP), accounts receivable (AR), and expense processing. Hyperbots claims to have developed proprietary AI Assistants, with human-like intelligence to automate manual, analytical, and strategic tasks in finance and accounting. The firm is focused on US mid-markets and is gaining traction in the US, targeting firms with revenues between $50 million and $1 billion. Hyperbots’ platform embeds AI in all tasks for processes such as procure-to-pay, order-to-cash, and expense management, minimizing human involvement by 80%.