In an interaction with ET Online, Sameet Gupte, Co-Founder & CEO of EvoluteIQ, says the company provides businesses with an all-encompassing solution to enhance productivity, minimise operational complexity and accelerate digital transformation. He says the funding will support EvoluteIQ’s plan to enhance its AI automation platform. Edited excerpts:
ET: Please provide a brief overview of the specific goals the funding aims to achieve?
Sameet Gupte: We have been consistently growing since inception, with accelerated adoption of the EvoluteIQ platform among Fortune 500 clients globally in recent years. This funding will primarily fuel continued growth by expanding our reach with these clients. Additionally, a portion will be allocated to R&D, particularly in advancing agentic AI and end-to-end automation capabilities.
ET: How will this funding directly contribute to driving digital transformation for businesses across sectors?
SG: We are already collaborating with clients across various sectors, including healthcare, banking, insurance, telecom, manufacturing and logistics, to address complex challenges using digital solutions built on the EIQ platform. This funding will allow us to deepen our domain expertise.
For example, in healthcare, we are focusing on areas like care management and revenue cycle management, where our AI and automation platform will support solutions for symptom analysis, physician productivity and patient self-service tools. In insurance, we aim to integrate legacy platforms with generative AI for agentic workflows in claims processing, digital underwriting and more. In finance and accounting, our platform will enable transformation across the order-to-cash, procure-to-pay and record-to-report processes.
ET: What new technologies, solutions or capabilities will be developed or expanded with this funding?
SG: Beyond ongoing innovations across our technology stack, this funding will allow us to prioritise developments in generative AI and agentic AI.In generative AI, we are enhancing features for bias detection, transparency and explainability, which are critical for building user trust. For agentic AI, we are advancing multi-agent systems to enable AI agents to collaborate and achieve complex objectives. The EIQ platform already supports a low-code/no-code approach for deploying AI agents, and we will continue to refine these capabilities. Through agentic business process orchestration, we aim to automate end-to-end processes under established SOPs, allowing for human intervention as needed, while providing intelligent decision-making support.
ET: Will there be any geographical or market expansion enabled by this funding? If so, which regions or industries will benefit most?
SG: As our client base expands globally, we are investing in local operations to support this growth. We will be scaling up operations in the USA, India and the Nordics. We recently opened an office in Menlo Park, CA, which will serve as an R&D hub and customer support centre for North America. In India, the global capability centres (GCC) segment is growing rapidly, and we plan to continue investing in this area. From an industry perspective, we’re initially focusing on developing point solutions for healthcare, with plans to expand into insurance and TMT (technology, media, telecom).
ET: How will the investment contribute to improving operational efficiency, productivity or scalability for your clients?
SG: Businesses using the EIQ platform can unlock significant operational efficiencies, enhance productivity and gain agility to scale up in today’s fast-paced environment. Our low-code/no-code environment empowers clients to quickly deploy automation solutions without extensive coding or IT involvement.
AI-powered agents on the EIQ platform can manage routine inquiries, freeing human agents for more complex tasks. For instance, automating onboarding, performance reviews and benefits enrolment streamlines HR operations. These agents operate continuously, allowing businesses to extend service hours and meet customer demands more effectively.
Using an ‘agent-of-agent’ approach on the EIQ platform, we enable seamless inter-department communications, leading to automatic scaling up of business functions without increasing headcount.
ET: What steps are being taken to ensure that SMBs can also leverage the benefits of this funding? In what ways will this funding support SMBs in expanding and creating innovative digital solutions that are both affordable and efficient?
SG: Small and medium-sized businesses (SMBs) stand to benefit significantly from our integrated approach to business automation. EvoluteIQ addresses their challenges of limited technology resources by offering a subscription-based deployment model, providing the EIQ platform at an affordable and scalable price point.
Rather than investing in multiple tools like RPA, workflow automation and AI separately, SMBs gain access to all of these within our single integrated platform. This enables a quick rollout of new solutions, helping SMBs achieve efficiencies, cost savings and better decision-making.
Through EvoluteIQ-powered automation, SMBs can compete with larger enterprises by accessing advanced tools previously out of reach, including generative AI solutions.
ET: Are there any new offerings or tools specifically designed to address the unique challenges faced by SMBs?
SG: We are simplifying SMB onboarding with easy, swipe-of-a-card access to the EIQ platform. Additionally, we are developing flexible pricing models tailored for SMBs, such as subscription-based and pay-as-you-go options, making our solutions accessible without the scale requirements of enterprise plans.
By streamlining processes and enhancing efficiency, our automation solutions deliver a faster return on investment, empowering SMBs to reinvest savings into growth initiatives.
