Funding and Backers
Refold AI, a startup building AI “agents” to automate software integrations, has raised $6.5 million in seed financing. The round was co-led by Eniac Ventures and Tidal Ventures, with participation from Better Capital, Ahead VC, Karman Ventures, Z21, and several prominent angel investors.
How the Product Works
Instead of relying on traditional middleware or large integration teams, Refold deploys autonomous AI agents that learn how systems interact, generate and maintain integration code, and adapt as software changes. Early use cases include ERP-to-CRM synchronizations, finance automation, and supply chain workflows.
These AI agents are designed to reduce the heavy manual effort typically required for enterprise integrations, replacing months of consulting work with days of automated deployment.
Early Traction
Refold AI reports it already serves over 30 paying enterprise customers, including Incorta and Naehas, supports more than 1,500 active users, and processes over 30 million API calls per month. The company has achieved a seven-figure annual recurring revenue (ARR) and recently doubled its customer count within just two months.
Team, Locations, and Hiring
The startup is based in San Mateo, U.S., and Bengaluru, India with a team of 20 . It expects to grow to approximately 30 workers by the end of 2025 in order to grow engineering capability, help its product integrations, and support enterprise deployment.
Founders’ Background
Refold AI was co-founded in 2023 by Jugal Anchalia (CEO) and Abhishek Kumar (CPO). The duo previously founded telemedicine startup JustDoc, which was acquired by Netmeds in 2018. In 2020, Reliance Retail Ventures acquired Netmeds itself. With Refold AI, the founders of Netmeds were drawing from their experiences managing complex enterprise systems and knowing that sometimes even a slight change can lead to the high costs of integration and slowness in workflows because they are still dependent on complicated systems.
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Why This Matters
Enterprises worldwide spend hundreds of billions annually on connecting and maintaining their software systems. Industry research estimates the global system integration market was worth approximately $386 billion in 2023, making it one of the largest ongoing cost areas in corporate IT.
Refold AI’s approach seeks to shift this work from human consultants to autonomous software agents, enabling faster, cheaper, and more reliable integrations across customized enterprise systems.
Investor View
“Enterprise integrations are one of the most compelling use cases for agentic AI,” said Hadley Harris, founding general partner at Eniac Ventures, emphasizing that Refold is rebuilding the integration stack “from the ground up.”
Nicholas Muy, venture partner at Tidal Ventures, described integrations as “the most broken part of enterprise software,” adding that Refold’s agents “eliminate” rather than simply patch the problem.
What’s Next
With the fresh capital, Refold AI plans to:
- Expand its engineering team
- Broaden its integration catalog
- Move toward low-friction deployments for enterprises modernizing their AI stacks
Its three-layer architecture Workflow Code Agents, MCP Chains, and an Embedded Integrations Platform is designed to turn bespoke service work into reusable software, delivering production-ready integrations in a fraction of the usual time.
Overall, this funding represents an important moment for Refold AI and illustrates increasing investor confidence in AI-first automation, which ultimately shows we are moving toward a future in which enterprise software integrations require little to no human involvement.
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