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Microsoft-Backed Hrtech Startup Zinghr Invests In Saas Startup Lokibots

PRIVATEMar 18, 2023

Round Type

Funding Round

MilpitasInformation TechnologySoftwareArtificial IntelligenceEnterprise SoftwareSaaS

Description

HRtech startup ZingHR has made a strategic investment in Silicon Valley-based SaaS startup LokiBots.The investment will help ZingHR leverage its AI-based software bots, conversational AI and document AI to add capabilities and features to its human capital management (HCM) offerings. It would further help ZingHR to expand its AI-based products and services.ZingHR said the investment will also help it increase the efficiency of its HRtech products by 95-100%.The funding comes almost a year after ZingHR received $10 Mn from Tata Capital Growth Fund in exchange of 33% equity in the startup.Founded in 2014 by Prasad Rajappan, the Mumbai-based startup offers cloud-based human capital management (HCM) solutions including talent acquisition, talent management, payroll and alumni management, among others to small and medium-sized enterprises.ZingHR shared that it has added machine learning, deep learning and blockchain technology to its current products and enterprise offerings."Our aim with such strategic relationships is to set a new standard in speed, efficiency, and productivity in the HRtech industry and deliver unparalleled value to our clients. This can be also leverage by our customers for many of their non-HR processes like Accounting, Sales, Procurement and many others," said, Prasad Rajappan, founder and MD of ZingHR.The HRtech startup claims to have a client base of 1000 companies and offers services in 26 languages.LokiBots, on the other hand, is a four-year-old startup that helps non-tech savvy people create software bots and automate repetitive computerized tasks.LokiBots also enables digitization using ML-based forecasting and predictions, document AI and conversational AI."Our goal has always been to bring the power of intelligent automation to businesses of all sizes, and with ZingHR's vast clientele and financial support we will be able to strengthen our Go-To-Market initiatives. It will also enable us to accelerate our mission of democratising intelligent automation for businesses," said Srilatha Charuvu, cofounder and CEO of LokiBots.Contact:***@lokibots.comPhotos:https://www.prlog.org/12955896Press release distributed by PRLog

Quick answer

LokiBots raised an undisclosed amount in a Funding Round round, dated March 18, 2023. LokiBots is based in Milpitas, California, United States.

How much did LokiBots raise?
LokiBots raised an undisclosed amount in a Funding Round round on March 18, 2023.
What does LokiBots do?
LokiBots is a zero-code, business user friendly, collaborative platform, to automate mundane & repetitive computer tasks using Neural Networks and Deep Learning.
Where is LokiBots based and how big is it?
LokiBots is based in Milpitas, California, United States.
Who are the decision-makers at LokiBots?
Fundz holds 1 contact at LokiBots. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Enterprise Software and SaaS around the same time

Companies in the same sectors as LokiBots that raised within 45 days of this round, from Fundz verified event records.

  • Patri raised $2.4M (Seed) on April 11, 2023.
  • Quantexa raised $129M (Funding Round) on April 3, 2023.
  • Workera raised $24M (Series B) on March 23, 2023.
  • Wingspan raised $14M (Funding Round) on March 16, 2023.
  • Glider AI raised $10M (Series A) on March 7, 2023.
  • Certif-ID raised $1.8M (Seed) on May 2, 2023.

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Company Information

Company

LokiBots

Location

Milpitas, California, United States

About

LokiBots is a zero-code, business user friendly, collaborative platform, to automate mundane & repetitive computer tasks using Neural Networks and Deep Learning. It is a disruptive cloud-based SaaS offering for enterprise digital transformation. It helps business users to easily capture end to end process models and define dependencies/sequencing in them. It learns from user demonstration and tries to mimic human actions by logging, grouping & classifying the actions meaningfully. LokiBots is designed to simulate user actions, as a real user would. It tries to mimic human behavior, intelligence and intuition. It aims to think the same way a human would by using the recent advances in technology. Our approach is to integrate process modelling, process automation, process mining into a single framework and provide intelligent automation using ABCDi of emerging technologies (Artificial Intelligence, Blockchain, Cloud Computing, Data, IoT). This intelligent automation application is built on Google Cloud Platform using Python and Django. It uses Object Character Recognition (OCR), Object Detection, Computer Vision, Deep Learning, Neural Networks, Reinforcement Learning, Image Captioning, Learning By Demonstration to name a few to solve the most painful problems of current Robotic Process Automation systems. Our platform adds maximum value as it can be entirely operated by any business user in the company, with no extra technical skills necessary. We are a pre-seed stage startup looking for investors and partners. Please visit our website for list of customer use cases we automated.

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LokiBots raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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