A $2 million seed round led by Kalaari Capital, with participation from Sunicon Ventures and Athera Venture Partners, was raised by Hyperbots, an AI startup for accounting and finance.
The money raised will go toward expanding Hyperbots’ go-to-market plan and developing new products, such as generative AI models for accounting and finance that are exclusive to the company.
Hyperbots, a 2023 startup founded by Rajeev Pathak, Niyati Chhaya, and Ram Jayaraman, provides end-to-end AI-powered tools for a range of tasks, such as processing expenses and accounts payable (AP) and accounts receivable (AR).
Hyperbots states that it has created exclusive AI assistants that mimic human intelligence and can automate strategic, analytical, and manual financial and accounting tasks.
Targeting companies with revenues between $50 million and $1 billion, the firm is growing in the US and focuses on mid-market companies. By integrating AI into every task for procedures like procure-to-pay, order-to-cash, and expense management, Hyperbots’ platform reduces human involvement by 80%.
