JIFFY.ai, an enterprisetech incubator, has bagged $53 million in a Series B fundraising round. Along with Iron Pillar and R-Squared, Eight Roads Ventures led this investment round.

Nexus Venture Partners, Reaction Capital, and Rebright Partners were among the existing investors who took part in the investment round.

Eight Roads Ventures' Shweta Bhatia, partner and the head of Technology Investments India said, “The automation of business processes has become an integral pillar of the digital transformation agenda of enterprises, especially post pandemic. JIFFY.ai’s AI-driven approach to automation is unique with an integrated, modular, and intelligent solution that has proven superior alongside a faster and more sustainable ROI. We are thrilled to partner with Babu and his team in their mission to help enterprises reap the benefits of automation at scale.”

Paanini's JIFFY.ai will use the cash to expand its sales and marketing operations, as well as develop its hyper app platform, which integrates robotic process automation (RPA), intelligent document processing, no-code workflow management, and software creation.
IFFY.ai cofounder and CEO Babu Sivadasan remarked, “This funding will advance our mission to help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations.”

Paanini, a big data-based, AI-enabled intelligent and integrated platform for the modern-day digital enterprise, was founded in 2012 by Babu Sivadasan and a group of serial entrepreneurs. JIFFY.ai, the company's solution, leverages bots to automate operations that would otherwise be performed by workers in a company's daily workflow.

JIFFY.ai's cloud-native enterprise-grade platform gives corporate users access to AI, machine learning, natural language processing, and analytics. It enables them to provide end-to-end business process automation and lifecycle management solutions that increase efficiency, lower OPEX costs, and ensure faster ROI.

Sivadasan continued, “We are focusing on strengthening our intelligent automation platform which will enable organizations to compose, configure, monitor and maintain themselves as autonomous enterprises. Using the platform, they will be able to assemble automated business capabilities that can learn and adapt to changing needs with little or no additional resource and operational expenditure. This investment is validation for JIFFY.ai’s continued progress as a disruptor in the RPA and no-code space.”

According to the company's statement, JIFFY.ai collaborates with The Paanini Foundation to upskill and empower people for upcoming job opportunities that demand innovative human-machine collaboration, with the goal of creating a new productivity paradigm.

JIFFY.ai raised $18 million in a Series A financing headed by Nexus Venture Partners in 2020.

Along with software company Atlassian's CTO Sri Viswanath, wholesale corporation Costco's CFO Richard Galanti, automobile maker Nissan Motor's former CIO Tony Thomas, investment solution provider Assetmark CEO Charles Goldman, advisory firm Grant Thornton's former COO Jim Brady, and management solution Sungard Wealth and Retirement's former COO Bob Ward, Rebright Partners and W250 Venture Fund participated in the round.

The startup used the funds for product development, staff and customer base expansion, and product roadmap updates, among other things.