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Business EconomyPosted at: Aug 9 2022 3:20PM


Kerala-based software firm to invest Rs 750 cr

Kochi, Aug 9 (UNI) Tapping into the huge potential of digital worker services for automating business processes, electronics company Kloudpad will set up the world’s biggest centre in the sector at Kochi with a proposed investment of Rs 750 crore in three years.
The facility will coordinate digital transformation services for more than 300 enterprise clients globally, especially from the US, the UK and Europe, a release said.
Kloudpad will cater to this requirement by automating business processes through software robots or virtual employees that are developed using cognitive automation technology platforms, Managing Director Aromal Jayaraj Shikky said on Tuesday.
“We aim to have 500 IT professionals and one lakh digital workers by 2025, by when the target is to raise the present investment to Rs 750 crore from Rs 20 crore,” he said.
Initially, the digital workers centre in Kerala will have 100 employees. The pioneering facility in the state will provide RPA (robotic process automatic) technology that makes it easy to build, deploy and manage software robots which emulate human actions while interacting with digital business systems.
The 2012-founded Kloudpad, in its efforts to go global, will open centres in London, Amsterdam and New York. “We are devising ways to mobilize public investments in the next three years,” Shikky said.
“We are holding last-round discussions on getting resources through Series A funding. During 2020-22, we received technology support and investments from Microsoft.”
While the global expenses towards RPA total $3 billion (Rs 24,000 crore), the worldwide market for hyper automation is estimated to be Rs 4.75 lakh-crore. “Making best use of this, we aim at making Kloudpad a unicorn (with a value of over USD 1 billion),” Shikky said.
Kloudpad’s centre has been recognized by Automation Anywhere as a ‘Centre of Excellence’ in automation, the two-decade-old American company that develops RPA.
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