A Russian company developing solutions for automating routine workflows, ElectroNeek, has attracted $20 million in investments.

According to Kommersant with reference to ElectroNeek, the investment round involved funds YellowRockets.vc, Dragon Capital, I2BF, Angelsdeck, Softline Venture Partners, business angels Sergey Dashkov, Anton Litvyakov and other investors and was led by Baring Vostok. Including investments, ElectroNeek's valuation exceeded $100 million.

ElectroNeek plans to use the proceeds to expand its teams in North America, Latin America, Europe, the Middle East, and India, as well as to improve and expand the product's functionality.

As clarified on the company's website, ElectroNeek was founded in 2019 by automation experts Sergei Yudovsky, Dmitry Karpov, Mikhail Rozhin and Alexei Astafiev. Drawing on their experience and technological expertise, they proposed a solution whose main mission is to democratize robotic process automation (RPA) technology for small and medium-sized businesses.

Made in Russia

Author: Karina Kamalova