Zvolv, a hyper-automation company operating in India, the US, MEA, and ANZ, raised approximately $2 million from Silverneedle Ventures. Existing investor JSW Ventures also participated in the funding round.
Former Apple and Texas Instruments employees Hardik Gandhi and Sujoy Chakravarty launched Zvolv in 2018. It specializes in the LCNC (low-code/no-code) hyper-automation sector in India.
Zvolv intends to use the funds to enhance its LCNC Hyperautomation capabilities. The plan involves integrating a trust-based generative AI layer into enterprise AI applications.
These enhanced capabilities aim to enable enterprises to achieve substantial efficiency gains through Zvolv’s rapid application development and integration features, as per the company’s statement.
“We are extremely excited to bring on-board Silverneedle Ventures as partners, especially as we expand further into the US healthcare space,” said Gandhi, CEO of Zvolv.
Zvolv aims to broaden its presence in the US market by collaborating with resellers and establishing a direct presence.
“Hardik and his team have built an outstanding AI product with a clear potential to significantly accelerate the digital transformation journeys of enterprises,” said Abishek Balendran, partner, Silverneedle Ventures.
Given the substantial depth and space in the hyperautomation market, along with the innovative AI orchestration capabilities provided by Zvolv, the company sees its product suite as a significant game changer.
“With this fundraise, Zvolv will get the additional firepower to increase their distribution capabilities, which will cement their name as one of the top hyperautomation platforms for businesses not only in India, but globally,” said Sachin Tagra, managing partner at JSW Ventures and a Zvolv board member.
Industry estimates project that nearly 70% of new applications developed by enterprises will incorporate low-code or no-code technologies by the year 2025.
