Kognitos Secures $20 Million to Enhance Its Generative AI-driven Business Automation Platform

Generative AI-Based Platform for Automation in Business Processes Kognitos Kognitos has accomplished a successful Series A funding round, securing $20 million led by Khosla Ventures, with additional investments from Clear Ventures, Engineering Capital, and Wipro Ventures.

The fresh infusion of capital will focus on enhancing Kognitos' product offerings, expanding partnerships, and ensuring better integration with third-party business applications, bringing the company’s total funding to $30 million.

The Kognitos platform boasts the capability to automate various tasks across different sectors and modalities, such as voice transcription, basic image modifications, QR code scanning, visualization of data, and filling out PDF forms.

By employing natural language processing automation (NLPA), Kognitos simplifies business processes using plain language, transforming English into a programmable 'code'. This scalable SaaS offers functionalities without relying on bots, managing processes across ERP, CRM, and ubiquitous applications.

Harnessing Generative AI for Streamlined Business Automation

Kognitos features a unique human-in-the-loop mechanism with patented conversational exception management, alleviating the usual burdens on IT related to handling exceptions in business. It adapts and learns from user interactions in real-time, thereby adding significant business value without the traditional heavy costs associated with software development. automation tools.

"A majority of businesses have numerous processes that necessitate meticulous document or email verification, validation enforcement, data processing, and updates of record systems such as ERP or CRM,\" stated Kognitos co-founder Binny Gill in an official release.

"The Kognitos platform is designed not just for process specialists who configure business workflows but also for regular employees who would otherwise perform these tasks manually. Anyone with basic technical skills can navigate Kognitos' interface without any prior coding knowledge,\" he further explained.

Founded in 2020 by a former researcher at IBM The product from Kognitos has already been embraced by various companies in manufacturing, logistics, consumer packaged goods, and retail sectors, including notable names like PepsiCo, Wipro, Century Supply Chain Solutions, and Norco Industries.

In terms of features, Kognitos finds itself in competition with existing robotic process automation (RPA) platforms such as Automation Anywhere and emerging challengers like Adept. UiPath Generative AI applied to business automation utilizes sophisticated algorithms to create smart, flexible systems that can independently manage intricate tasks and processes. By leveraging natural language processing and continuously learning from user interactions, these innovations significantly enhance operational efficiency and turn manual workflows into seamless, automated experiences.

This type of RPA, which employs software 'bots' to automate back-office activities, has the potential to render approximately 16% of job roles redundant by 2025.

In 2016, a Deloitte study predicted In a recent announcement, Parabola, a San Francisco-based startup focused on using AI to streamline back-office functions in logistics and e-commerce, revealed it has raised $24 million in a Series B funding round to further its development of AI solutions for automating workflow processes.

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