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AI Automation Startup UnifyApps Raises $50 Million, Names Sprinklr Founder as Co-CEO

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UnifyApps, an AI automation startup that integrates enterprise systems to streamline routine business processes, has raised $50 million in a Series B funding round led by WestBridge Capital and appointed Sprinklr founder Ragy Thomas as its new chairman and co-CEO.

The fresh funding values the company at around $250 million, according to a source familiar with the matter. Investors including ICONIQ Capital also joined the round, bringing UnifyApps’ total funding to about $81 million since its launch in 2023.

Positioning itself as an “enterprise operating system for AI,” UnifyApps connects corporate software platforms such as Salesforce and Workday to large language models, helping businesses automate repetitive tasks like HR workflows, claims processing, and supply chain management.

Clients include Lowe’s, HDFC Bank, and Deutsche Telekom, which use UnifyApps’ technology to boost efficiency across departments. The company reported a sevenfold increase in annual revenue, though it did not disclose figures.

Thomas, who built Sprinklr into a billion-dollar customer experience firm, said UnifyApps’ edge lies in being purpose-built for AI—unlike older automation players such as UiPath and Automation Anywhere, which are retrofitting legacy platforms to include AI features. “We’re not layering AI on top of old systems—we’re rethinking the operating model around it,” he told Reuters.

Co-founder Pavitar Singh will continue to serve as co-CEO. The company plans to use the new funds to expand its 400-person workforce by over 100 employees, enhance its AI platform, and strengthen its presence in Europe.

The surge of investment reflects growing demand for enterprise AI integration tools, even as research from MIT shows that 95% of corporate AI projects have yet to deliver meaningful returns—underscoring the difficulty of translating hype into productivity.

German drone startup Quantum nears €150 million funding round, set to triple valuation

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German drone manufacturer Quantum Systems is nearing completion of a €150 million ($175 million) funding round that could triple its valuation to €3 billion, according to a report from Manager Magazin. The surge in investor interest follows heightened demand for drone defense technologies amid rising security incidents at airports and critical infrastructure sites.

Quantum’s latest model, the “Jaeger”, is specifically designed to intercept and neutralize hostile drones, addressing growing threats linked to unauthorized aerial activity — some of which European authorities suspect may be part of hybrid warfare efforts by Russia.

The Munich-based startup plans to use the fresh capital to expand through acquisitions of smaller technology firms and startups, strengthening its technological edge in autonomous flight, sensor integration, and drone countermeasures.

According to Manager Magazin, Quantum expects revenues of €300 million in 2025, rising to over €500 million in 2026, and is already planning a second, larger funding round in 2026 that could push its valuation up to €5 billion.

Founded in 2015, Quantum Systems has quickly become one of Europe’s leading drone technology firms, supplying military, defense, and security agencies. The company did not respond to a request for comment from Reuters.

The report coincides with Germany’s decision to grant police new authority to shoot down rogue drones, a move reflecting growing concerns over drone-related disruptions at European airports.

AI Startup Modular Raises $250 Million to Take On Nvidia’s Software Dominance

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AI startup Modular announced Wednesday it has raised $250 million in fresh funding, giving the company a valuation of $1.6 billion as it looks to loosen Nvidia’s grip on the AI computing ecosystem.

The round, which nearly tripled Modular’s valuation from two years ago, was led by the U.S. Innovative Technology Fund with participation from DFJ Growth and existing backers GV, General Catalyst, and Greylock.

Founded in 2022 by former Apple and Google engineers, Modular has built a platform that lets developers run AI applications across multiple types of chips without rewriting code for each one. Its clients include cloud providers such as Oracle and Amazon, as well as chipmakers Nvidia and AMD.

Nvidia’s dominance—holding more than 80% of the high-end AI chip market—is reinforced by its proprietary CUDA software, which locks in over 4 million developers worldwide. Modular positions itself as a neutral alternative, branding its approach the “Switzerland strategy.”

Co-founder and CEO Chris Lattner emphasized that Modular isn’t aiming to topple Nvidia directly. “What we’re focused on is not like pushing down Nvidia or crushing them. It’s more about enabling a level playing field so that other people can compete,” he said.

The company plans to sell its software directly to enterprises on a usage-based model and through revenue-sharing deals with cloud providers. Investors are betting that a multi-vendor AI hardware future is inevitable. DFJ Growth partner Sam Fort described Modular as “VMware for the AI era,” enabling workloads to move seamlessly across different chip vendors.

With around 130 employees, Modular plans to use the new capital to grow its engineering and sales teams and to expand beyond AI inference into the more demanding AI training market.