Zvolv, a SaaS startup founded by ex-Apple and Texas Instruments employees Hardik Gandhi and Sujoy Chakravarty in 2018, has secured INR 16 Cr ($2 Mn) in a strategic funding round led by Silverneedle Ventures, with participation from JSW Ventures.
The funding will enable Zvolv to enhance its low-code/no-code (LCNC) capabilities through the deployment of generative AI tools. The company plans to expand its offerings and footprint in the US market by collaborating with resellers and establishing a direct presence.
Zvolv's platform enables enterprises to automate their processes, particularly in sectors like retail, HR operations, and supply chain management, helping businesses address operational inefficiencies. Some of its clients include Swiggy, Lenskart, and Titan.
Hardik Gandhi, Zvolv's CEO, expressed excitement about the partnership with Silverneedle Ventures, highlighting their expansion into the US healthcare space. Abishek Balendran, partner at Silverneedle, believes that Zvolv's product suite, combined with new AI orchestration capabilities, will be a game-changer in the hyper-automation market.
Operating in India, the US, the Middle East, and Australia, Zvolv previously raised $1.5 Mn in 2021 from JSW Ventures and Riso Capital. The startup competes with established players such as UiPath, Happiest Minds, and Automation Anywhere in the automation solutions market.
India's SaaS market is witnessing significant growth, with over 1,100 funded enterprisetech startups raising capital exceeding $15 Bn between 2014 and 2023. The homegrown SaaS market is projected to reach $25 Bn by 2025, showcasing the potential for Indian startups to offer affordable solutions globally.
