Eight Roads Ventures led a $53 million fundraising round for Jiffy.ai, a business-to-business (B2B) automation platform. The funds will be used to expand the company’s sales and marketing operations, as well as advance its HyperApp platform.
Iron Pillar, R-Squared, and current investors Nexus Venture Partners, Reaction Capital, and Rebright Partners all participated in the round, according to the company.
Jiffy.ai raised $18 million from investors led by Nexus Venture Partners in June 2020. Paanini Foundation, a non-profit organisation, is the company’s largest stock shareholder.
“This funding will help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations,” said Babu Sivadasan, cofounder and chief executive, Jiffy.ai.
The company, which was launched in 2018 as the go-to-market brand from its parent Paanini Inc., is focusing on strengthening its intelligent automation platform. The platform helps clients assemble automated business capabilities that can learn and adapt to changing needs with little or no additional resource and operational expenditure.
“The automation of business processes has become an integral pillar of the digital transformation agenda of enterprises, especially post pandemic,” said Shweta Bhatia, partner & head of technology investments in India at Eight Roads Ventures.
