The cutting-edge AI company, Hyperbots that specialises in finance and accounting solutions announced on 7 August that they have successfully raised $2 million in seed funding round. 

This round of funding was led by Kalaari Capital and saw significant participation from thera Venture Partners and Sunicon Ventures. 

The company said that it will use this fund to fuel the company’s go-to-market strategy and product development, focusing on creating proprietary generative AI models for finance and accounting.

Hyperbots was founded in 2023 by industry veterans Niyati Chhaya, Rajeev Pathak, and Ram Jayaraman and has quickly established itself as a leader in AI-driven automation for the finance sector.

Through collaboration with 25 CFOs, the company has developed AI Assistants that mimic human intelligence to automate manual, strategic, and analytical tasks in finance and accounting. This AI-powered solution aims to reduce human involvement by 80% in processes such as Order-to-cash, Procure-To-Pay, and Expense Management. 

Co-founder Niyati Chhaya emphasised the transformative potential of their technology: “We envision Hyperbots’ transformer-based proprietary models for processing documents like invoices, bills, purchase orders, contracts, and data-driven automated prediction techniques for financial decision making, will help achieve over 80% straight-through-processing of otherwise completely human-operated processes. With the support of our partners like Kalaari, Sunicon, and Athera, we are poised to revolutionise the finance operations for US mid-markets.”

The company’s AI platform is trained on millions of accounting documents and transactions and is poised to enhance its capabilities in other finance functions.

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