EvoluteIQ raises USD 53 million from Baird Capital

New Delhi, Sep 17 (PTI) AI-native automation platform EvoluteIQ has raised USD 53 million (about Rs 465 crore) in a minority growth capital round from Baird Capital and plans to direct the funds towards global expansion, R&D innovation, and strategic acquisitions.

The Sweden-headquartered firm has over 70 per cent of its employees in India.

This fresh funding will help EvoluteIQ accelerate its global growth, deepen investments in its Bengaluru R&D Centre, and strengthen its position in AI-powered automation across industries, the company said in a statement.

"India continues to be at the core of EvoluteIQ's growth strategy, housing the company's largest R&D centre in Bengaluru. The funding will enable significant expansion of the Indian operations, with plans to hire top talent and scale the team as the company builds next-generation technology for AI-led transformation," it said. PTI ANK MR