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Zvolv seals USD $2m fundraise led by Silverneedle Ventures
Fri, 8th Mar 2024

Zvolv, a hyperautomation platform based in Pune, India, is celebrating the successful closing of a USD $2 million fundraising campaign led by Silverneedle Ventures. Esteemed investors, including JSW Ventures and other notable backers, have fueled this latest fundraising for the company.

The company is focused on enabling businesses worldwide to create process automation applications efficiently. This is achieved through the use of advanced AI-driven intelligence via its Low-Code No-Code (LCNC) platform. With an injection of fresh capital, Zvolv is set to expand and reinforce its AI orchestration solutions while broadening its market reach in the United States through new collaborations and a direct business presence.

Zvolv's recent creation, the 'Z-wall' generative-AI trust orchestration engine, alongside the updated version of its LCNC Hyperautomation Microservices Platform, highlights the company's dedication towards offering top-of-the-line solutions. These innovations assist enterprises in deploying AI and automation elements speedily while ensuring secure usage.

Operating across India, the US, MEA, and ANZ, Zvolv formally announced the first closure of this round of funds on February 29, 2024. Silverneedle Ventures, along with JSW Ventures and existing investors, spearheaded the initiative.

Zvolv intends to use the new funds to advance its extensive LCNC Hyperautomation solutions by integrating a trust-based generative AI layer into advanced enterprise AI applications. By leveraging Zvolv's rapid application development and integration abilities, these future-proof capabilities aim to result in significant efficiency gains for businesses and reduce time to value.

Hardik Gandhi, the Chief Executive Officer of Zvolv, expressed his excitement in welcoming Silverneedle Ventures as partners in this venture. According to Gandhi, the investment stands as proof of the potential inherent in Zvolv and the traction it's gaining in the large enterprise sector.

Abishek Balendran, Partner at Silverneedle Ventures, praised Zvolv's efforts. He said, "Hardik and his team have constructed an exceptional AI product that holds clear potential to significantly accelerate the digital transformation journeys of enterprises."

Sachin Tagra, Managing Partner at JSW Ventures and member of Zvolv's board, added that this successful fundraising will significantly improve Zvolv's distribution capabilities. "Zvolv has proved its product capabilities over the last couple of years. With this fundraise, Zvolv will get the additional firepower to increase their distribution capabilities, which will cement their name as one of the top hyperautomation platforms for businesses not only in India, but across the globe," said Tagra. 

With over 100 solution accelerators spanning retail operations/expansion, supply chain management and HR/Finance operations, Zvolv aims to provide businesses with immediate solutions to operational inefficiencies at considerably lower costs and time.

According to industry estimates, nearly 70% of new applications developed by enterprises are projected to utilise low-code or no-code technologies by 2025. Consolidating its position within this growth trajectory, Zvolv, launched in 2018 by former Apple and Texas Instruments technologists Hardik Gandhi and Sujoy Chakravarty, already stands as a leader in the LCNC hyperautomation space in India.