Latest news with #NiyatiChhaya
Time of India
09-07-2025
- Business
- Time of India
Making finance & accounting smarter and faster
Representative AI-generated image ➤ In 2023, Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak came together to make finance and accounting smarter, faster, and autonomous. Rajeev, who had worked at Wipro and founded a learning platform called Funtoot (acquired by Reliance's Embibe in 2019), had noted that clunky accounting processes had distracted him from building his business. And he kept coming back to one question: 'What if I can simplify these functions?' Niyati Chhaya ➤ Ram had grown up watching his father, a chartered accountant, struggle with outdated finance systems, and be buried in manual work. Ram too had been at Wipro, and had later joined Rajeev in Funtoot. Niyati had been an AI research scientist at Adobe for more than 10 years, and had then joined the faculty at IIIT Hyderabad. She wanted to do more than research papers – she wanted to see her ideas powering products, and creating real impact. Ram Jayaraman by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esse novo alarme com câmera é quase gratuito em Ibaté (consulte o preço) Alarmes Undo ➤ Their common vision around finance and accounting became Hyperbots . The venture is building AI co-pilots for finance teams – moving beyond task automation to autonomous execution across critical workflows like procure-to-pay (the end-to-end business process that manages the acquisition of goods and services, from initial request to final payment), order-to-cash (a business process that outlines the steps from when a customer places an order to when the business receives payment), expense management, reporting, and analytics. Hyperbots' agentic AI platform reads and understands any financial document – invoice, contract, or statement – regardless of format or template. It extracts, interprets, and posts the data directly into ERP systems, enabling straight-through processing. This slashes manual errors, reduces costs, and unlocks real-time cash flow visibility for CFOs. The AI agents also interpret accounting jargon and free text to provide alerts and insights around payment terms, and penalties. Rajeev says the accuracy level is 99.8%, and there's an 80% productivity gain. ➤ They have received $6.5 million in seed funding in a round led by Arkam Ventures. They currently sell only in the US. Rajeev says they have a few dozen customers. ➤ They are working towards building a large language model trained exclusively on finance and accounting data. This will enable the development of more co-pilots. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Cision Canada
13-05-2025
- Business
- Cision Canada
Agentic AI platform for finance & accounting, Hyperbots, raises $6.5M Series A co-led by Arkam and Athera Ventures
Funds will accelerate U.S. expansion, new co-pilot development, and help launch industry-first LLM – "HyperLM" – pre-trained with millions of data points & reasons for finance and accounting. DOVER, Del., May 13, 2025 /CNW/ -- Hyperbots, the agentic AI platform for finance and accounting, announced today that it has raised a $6.5 million Series A round co-led by Arkam Ventures and Athera Venture Partners. The round also saw participation from new investor JSW Ventures and existing investors, Kalaari Capital, Sunicon Ventures, and Darashaw & Company Sunicon Ventures, and Darashaw & Company. Hyperbots focuses on transforming finance operations for mid-market enterprises. The funds will accelerate U.S. go-to-market efforts and the development of new AI co-pilots, including the launch of HyperLM, the industry's first large language model trained exclusively on finance and accounting data. Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots automates finance workflows across procure-to-pay, order-to-cash, expense management, analytics, and reporting. Each co-pilot is built in collaboration with CFOs. The team worked with 25+ design partners in the U.S. over 18 months before launching its MVP. The co-pilots integrate with leading ERP, CRM, and finance systems. Since launch, Hyperbots has delivered over 80% straight-through processing, 99.8% document accuracy, and reduced manual intervention by up to 80%, driving faster cycle times and lower costs. Hyperbots is on track to serve 100+ U.S. clients this year across sectors including healthcare, media, manufacturing, retail, EV infrastructure, construction, oil & gas, pharma, and real estate. Rajeev Pathak, Co-founder & CEO, Hyperbots said, "We are entering a new era of finance-and-accounting transformation in the U.S. With our proprietary, domain-trained AI models and agentic workflow engine, we can finally automate the heavy, error-prone work that's been holding finance teams back. This round gives us the resources to deepen our R&D, accelerate go-lives, and build a GTM ecosystem that will let every mid-market CFO run world-class F&A operations—at a fraction of today's cost and effort." Bala Srinivasa, Managing Director, Arkam Ventures, said, "We were impressed by the accuracy and product breadth of the Hyperbots' agentic AI suite for such a young company. We are excited to back the Hyperbots team that combines deep AI expertise with a relentless focus on customer value and satisfaction." About Hyperbots Hyperbots transform F&A functions using proprietary AI agents that can read structured and unstructured data, process invoices, match and reconcile them, manage accruals, validate taxes, check payment terms, and recommend GL codes for ERP posting with zero to minimal human intervention. Multiple specialized AI co-pilots operate on top of a finance-specific foundational architecture that enables superior intelligence in an F&A context (language, vision, reasoning, interpretation, recommendation, prediction, redaction, exception handling etc.)
Economic Times
12-05-2025
- Business
- Economic Times
Finance automation startup Hyperbots raises $6.5 million from Arkam Ventures, Athera Venture Partners, others
ETtech L-R- Rajeev Patha, Ram Jayaraman, and Niyati Chhaya, cofounders, Hyperbots Hyperbots, which builds agentic AI co-pilots for finance and accounting operations, has raised $6.5 million in a Series A funding round co-led by Arkam Ventures and Athera Venture investor JSW Ventures and existing backers Kalaari Capital, Sunicon Ventures, and Darashaw & Company also participated in the round. The Bengaluru- and US-based startup will use the funds to expand its presence in the US, build new co-pilots, and launch HyperLM—a proprietary large language model pre-trained on vast amounts of finance and accounting data. Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots offers AI-powered tools that automate key finance and accounting tasks such as processing invoices, matching and reconciling entries, managing accruals, validating taxes and checking payment terms. 'There are use cases in finance and accounting where an AI agent can achieve straight through tasks with no human touch. We are transforming finance operations and freeing human bandwidths for doing higher order tasks,' said Rajeev Pathak, cofounder and CEO of Hyperbots. The startup currently employs around 55 people, with the majority based in its engineering team in Bengaluru. Hyperbots' platform, which he says has been trained on over 30 million finance-specific data points, is tailored for mid-market enterprises in the US. The company noted that while finance teams globally have embraced digitisation, many still depend on manual processes, siloed systems, and outdated reporting startup claims its AI co-pilots can reduce manual effort by up to 80% and deliver 99.8% accuracy in document processing, resulting in faster turnarounds and significant cost currently serves clients across sectors such as healthcare, media, EV infrastructure and retail, and is on track to onboard over 100 customers this fiscal year.'We were impressed by the accuracy and product breadth of the Hyperbots agentic AI suite for such a young company. We are excited to back the Hyperbots team that combines deep AI expertise with a relentless focus on customer value and satisfaction,' said Bala Srinivasa, managing director, Arkam Ventures.
