Agentic AI startup Composio has raised $24 million in its Series A funding round from investors, including LightSpeed India, Elevation Capital, and Together Fund, sources have told Moneycontrol.
The funding reflects the growing trend of investors backing AI-driven SaaS startups.
Founded in 2023 by IIT-Bombay graduates Soham Ganatra and Karan Vaidya, Composio focuses on simplifying complex enterprise workflows through AI-driven automation.
It helps businesses automate complex workflows using artificial intelligence (AI) agents that can independently make decisions, take actions, and optimise processes across different software systems.
The firm offers customers to connect various tools such as GitHub, Jira, Sendgrid, and PostHog to AI agents in less than five minutes. A company gets thousands of customer emails daily. Instead of manually reading each one, AI agent can read the email and detect urgency, check past customer interactions to understand context and either auto-reply with a solution or escalate the issue to the right department.
Composio helps developers integrate AI agents into various tools seamlessly.
The firm competes with global players like Stack AI, Dify AI and Deepset.
Together, Elevation and LightSpeed did not respond to Moneycontrol queries, while Composio declined to comment.
In 2024, the firm raised $4 million in its seed round led by Together Fund and Elevation Capital.
Several startups have recently secured significant funding, reflecting a growing investor interest, particularly in AI-driven solutions.
Whatfix, a software adoption technology startup founded in India in 2014 , secured a $125 million investment led by Warburg Pincus, with participation from SoftBank Group. This investment aims to enhance R&D capabilities, especially in AI technology, and support geographic expansion.
A report by Bessemer Venture Partners in 2024 highlighted that nearly 92 percent of Indian SaaS startups have integrated AI features into their products over the past year. This widespread adoption of AI technologies such as machine learning and natural language processing enhances software capabilities, making them more intuitive and capable of automating complex tasks.
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