TLDR: Swedish AI firm EvoluteIQ has successfully raised $53 million in minority growth capital, led by Baird Capital. This significant funding round is earmarked to accelerate the company’s global expansion and further enhance its cutting-edge agentic AI platform, which is designed to automate complex business processes across various industries.
Stockholm-based EvoluteIQ AB, a prominent artificial intelligence business automation platform, announced on September 17, 2025, that it has secured $53 million in minority growth capital. The funding round was spearheaded by global private investment company Baird Capital, with the primary objective of fueling the company’s global expansion and reinforcing its leadership in enterprise-grade agentic AI automation.
Founded in 2019 by Sameet Gupte, Sanjay Koppikar, Deepak Kinger, Arun Hiremath, and Naveen Prabhu, EvoluteIQ has developed the EIQ platform. This platform is engineered to automate intricate business processes using proactive AI systems. At its core, the company leverages large language models and AI agents as part of its proprietary Agentic Mesh Architecture (aMa) and AI Workbench. This architecture enables users to define processes, event flows, and automate decisions by seamlessly connecting to enterprise data and software tools.
Sameet Gupte, Co-founder and CEO of EvoluteIQ, emphasized the transformative nature of their technology: “The agentic AI market represents a fundamental shift from reactive automation to proactive, intelligent orchestration.” He further added, “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.”
Agentic AI, as deployed by EvoluteIQ, refers to AI systems that transcend traditional generative AI chatbots. These autonomous agents are capable of breaking down complex tasks and achieving user-prescribed goals by operating with predefined objectives and leveraging an understanding of enterprise data to execute actions on behalf of users. Business users can define goals, event flows, and exceptions using a no-code drag-and-drop interface and plain language, such as ‘Auto-approve loans if credit score over 700.’ Advanced users can also define complex workflows in a collaborative low-code workspace, exploring data connectors, software tools, and automation processes.
The EIQ platform provides the necessary scaffolding for business automation across diverse sectors, including banking and financial services, insurance, healthcare, telecommunications, and manufacturing. EvoluteIQ’s approach distinguishes itself from established players like UiPath and Automation Anywhere by offering a unified low-code/no-code platform that integrates process orchestration, data management, and generative AI decision-making, thereby eliminating fragmented toolchains.
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This latest funding round follows a previous $20 million investment led by Round2 Capital less than a year prior. With the fresh capital, EvoluteIQ plans to prioritize its expansion in India, where it operates its largest research and development center in Bengaluru. The company also intends to scale its international operations and make a significant expansion in India, with plans to recruit additional talent. Baird Capital’s Daina Spedding and Mark Donnelly will join EvoluteIQ’s Board of Directors, bringing their expertise to guide the company’s growth trajectory.
