EvoluteIQ Secures $53M to Expand Agentic AI Platform for Enterprise Automation

Key Takeaways

EvoluteIQ, an AI-powered business automation platform, has closed a $53 million minority growth capital round led by global private investment firm Baird Capital, the company announced on September 17, 2025.

The investment positions the Stockholm-based company to accelerate its global expansion and strengthen its leadership in enterprise-grade agentic AI automation.

As part of the transaction, Baird Capital's Daina Spedding and Mark Donnelly will join EvoluteIQ's board of directors.

Shifting from reactive to proactive AI automation

Founded in 2019 by Sameet Gupte, Sanjay Koppikar, Deepak Kinger, Arun Hiremath and Naveen Prabhu, EvoluteIQ develops the EIQ platform, which automates complex business processes using its proprietary Agentic Mesh Architecture and AI Workbench.

The platform delivers measurable outcomes across mission-critical operations in sectors such as banking and financial services, healthcare, telecommunications and manufacturing.

"The agentic AI market represents a fundamental shift from reactive automation to proactive, intelligent orchestration," said Sameet Gupte, Co-founder and CEO at EvoluteIQ.

"Baird Capital's expertise in scaling technology companies, network, and global resources will help us accelerate our journey, as we focus on driving transformative growth through outcome-driven agentic models."

The platform can be applied to end-to-end business workflows in banking and financial services, insurance, healthcare, telecommunications and manufacturing, and is currently used by Fortune 500 companies.

Strategic investment in India and global markets

With over 70 percent of its workforce in India, EvoluteIQ is focusing on its Bengaluru R&D center to bolster its AI-powered automation capabilities across industries. The company plans to expand its team and hire top-tier talent as it develops next-generation AI technology.

"India has been instrumental in our journey, providing the technological backbone of innovation for our global success," said Sameet Gupte.

He noted that over the last six or seven quarters the company has seen massive growth in its US and UK business, with healthcare and insurance standing out as key sectors.

The investment will support the expansion of operations in India, with plans to recruit additional talent and grow the team. The company will also invest in its centre at Menlo Park in the US.

Building on momentum from previous round

In October 2024, EvoluteIQ raised $20 million in equity and debt led by Round2 Capital, with participation from Nordea Growth Fund, DCAP Select, and PH ventures.

At that time, Gupte stated that EvoluteIQ had achieved growth with a 135% CAGR over the past few years, nearly doubling its ARR each year.

The latest funding round reflects growing confidence in companies that combine traditional automation with advanced AI capabilities to deliver autonomous decision-making systems.

Investor perspective

"The investment demonstrates our excitement for AI and reshaping automation," said Daina Spedding, Director in Baird Capital's Global Private Equity team.

"EvoluteIQ has earned its place alongside other automation trailblazers, bringing deep expertise and addressing a critical AI need across the enterprises they serve. We are delighted to welcome EvoluteIQ into Baird Capital's portfolio."

EvoluteIQ will also look at some strategic mergers and acquisitions, though these will be very specific, targeted and impactful as the main focus remains on continuously growing the organic business.

Read more: