Refold AI raises USD 6.5 mn in a funding round led by Eniac Ventures, Tidal Ventures

New Delhi, Aug 13 (PTI) IT startup Refold AI has raised USD 6.5 million, about Rs 57 crore, in a funding round co-led by Eniac Ventures and Tidal Ventures, the company said on Wednesday.

Better Capital, Ahead VC, Karman Ventures, Z21 and some angels also participated in the funding round.

"Refold AI, a new startup rethinking integrations from the agent up, is coming out of stealth with USD 6.5 million in funding and a platform that replaces outsourced service work with AI-native infrastructure," the company said in a statement.

The company plans to use the new capital to expand its engineering team, deepen product integrations, and support its growing enterprise customer base.

"We were spending more time managing chaos than building software," Refold Co-Founder and CEO Jugal Anchalia said.

Refold AI claims to be working with over 30 paying enterprise customers, including Incorta and Naehas, has grown two times in two months, supporting more than 1,500 active users. PTI PRS TRB