Bengaluru: Bengaluru-headquartered Avaali Solutions, a company that enables digital transformation for large enterprises, will invest as much as $8 million on expanding its footprint in India, UAE and Singapore, as well as Europe, according to a top company official.
Digital transformation involves using current technologies to create or modify processes and strategies to help organisations meet evolving business requirements. Avaali works with enterprises to automate the unstructured content and workflows in business processes, with technologies such as Robotic Process Automation, chat-bots, machine learning (ML), artificial intelligence (AI) and information management solutions.
Cloud-based solution providers such as Coupa and SAP Ariba also offer solutions in some of these areas.
The company will invest $5-8 million over the next two years, Srividya Kannan, founder-director, Avaali Solutions, told Mint over a phone call. "Our focus is on penetrating deeper within our existing customer base, existing geographies and in expanding into Europe," said Kannan.
Avaali is also looking to raise around $3 million in a Series A round, said the founder.
Avaali, which was bootstrapped with around $5 million in an initial investment six years ago, reported net revenue of $2.5 million in FY18. The company is yet to report its financials for FY19.
Avaali has nearly 120 employees in Bengaluru, and at its subsidiaries in UAE and Singapore, and plans to increase its headcount to 225, she added.
The company has "invested heavily" in building its Velocious framework, which uses multiple technologies to drive process transformation for clients at a faster pace, more accurately, and at lower cost. According to Kannan, Velocious can integrate with legacy platforms and will contribute to a lot of their expansion. "Velocious sits on top of their existing landscape, leverages what the organisation has already invested in and adds to it, to drive process transformation," she added.