Artificial intelligence has opened a plethora of opportunities for automation startups to thrive in the tech-driven market. The global automation market is expected to hit US$300 billion in 2026 with a CAGR of 8%. Multiple automation startups have identified the core area of artificial intelligence that is automation— a key element to drive success. Automation is making a huge difference across the world with its smart functionalities in this fast-paced life. Let’s explore some of the recent funding in top automation startups for automation in Q3 and Q4 2021.
Top recent funding in automation startups
Fonoa is a tax automation startup in Dublin that raised US$25 million in funding for automation in Q3 and Q4 2021. It has determined to spend this funding in automation startup on expanding business tax compliance. It is well-known for offering API that analyzes whether customers and suppliers are taxable and applies calculation which taxes apply to their current transactions.
Infinitus Systems has received one of the top funding of automation startups worth US$30 million from Series B with a total of US$51.4 million in funding for automation. This automation startup works with the artificial intelligence automation space and created a Voice RPA system. It helps to automate phone calls for the healthcare service providers. It has decided to use this fund for investing in more staff, boosting product delivery, scaling the operations, and expanding sales and marketing teams.
A financial automation startup known as Aurelia has successfully raised US$3 million as the funding in automation startup from Blossom Capital for automation in Q3 and Q4 2021. It aims at small businesses that want to combine bank accounts with different financial tools. It is known for automating business tasks across third-party financial apps on a single platform efficiently and effectively.
SaaS Labs has recently raised US$17 million as a major funding in automation startups in Series A funding round from Base 10 Partners as well as Eight Road Ventures. The automation startup has decided to spend the funding on developing more products for sales, support, and marketing teams and accelerating the productivity of call centres. It is known as a software provider for business process automation with two main products known as Just call and Helpwise.
Strike Graph is popularly known as a compliance automation startup that has raised US$8 million as a part of Series A funding from Information Venture Partners. It helps companies to pass their cybersecurity audits with a scalable security programme. It is the first automation startup that builds an artificial intelligence offering to automate security questionnaires. Strike Graph has also launched an innovative system to automate compliance scoping as well as evidence collection.
Skit is known as a voice AI startup that has locked US$23 million as a part of Series B funding from WestBridge Capital. The voice automation startup has collected total funding in automation startup worth US$ 30 million. It provides a suite of speech and language solutions for automating call centre operations.