About Evolute
Evolute is a company based in Mumbai (India) founded in 1970 by Amit Mehta, Ramachandra Babu Hanumanthappa, and Amitha Mehta. It operates as a FinTech, and Direct-to-Consumer (D2C). Evolute has raised $240.67 thousand across 2 funding rounds from investors including Vertex Financial Solutions. Evolute offers products and services including Fintech Innovations, Cleantech Solutions, Industrial Electronics, and Digital Payment Solutions. Evolute operates in a competitive market with competitors including Ezetap, Presto, Mswipe, ITAB and Innoviti, among others.
- Headquarter Mumbai, India
- Founders Amit Mehta, Ramachandra Babu Hanumanthappa, Amitha Mehta
- Stage Minicorn
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Sectors
RetailFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Evolute Group
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$240.67 K (USD)
in 2 rounds
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Latest Funding Round
$45.09 K (USD), Unspecified
Oct 31, 2011
- Investors
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Employee Count
Employee Count
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Products & Services of Evolute
Evolute offers a comprehensive portfolio of products and services, including Fintech Innovations, Cleantech Solutions, Industrial Electronics, and Digital Payment Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Solutions for payments and biometric authentication are provided.
Energy storage and alternative energy systems are developed.
Components for IoT and automation are manufactured here.
Merchant acquiring and retail digitization solutions are offered.
Funding Insights of Evolute
Evolute has successfully raised a total of $240.67K across 2 strategic funding rounds. The most recent funding activity was a Unspecified round of $45.09 thousand completed in October 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Unspecified — $45,091
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First Round
First Round
(12 May 2010)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2011 | Amount | Unspecified - Evolute | Valuation | Vertex Financial Solutions |
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| May, 2010 | Amount | Unspecified - Evolute | Valuation | Vertex Financial Solutions |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Evolute
Evolute has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Vertex Financial Solutions. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Evolute
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Evolute
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Evolute Comparisons
Competitors of Evolute
Evolute operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ezetap, Presto, Mswipe, ITAB and Innoviti, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based mPOS software and hardware solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Drive-through automation solutions for restaurants are provided using AI.
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| domain | founded_year | HQ Location |
Point-of-sale machines, soundboxes, and merchant payment solutions are offered.
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| domain | founded_year | HQ Location |
Self-checkout solutions are provided for retail businesses worldwide.
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| domain | founded_year | HQ Location |
Integrated online and offline payment solutions are provided for businesses.
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| domain | founded_year | HQ Location |
App-based self-checkout is enabled for offline retail stores.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Evolute
Frequently Asked Questions about Evolute
When was Evolute founded?
Evolute was founded in 1970 and raised its 1st funding round 40 years after it was founded.
Where is Evolute located?
Evolute is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Evolute a funded company?
Evolute is a funded company, having raised a total of $240.67K across 2 funding rounds to date. The company's 1st funding round was a Unspecified of $195.58K, raised on May 12, 2010.
What does Evolute do?
Evolute, based in India, is established as a prominent electronic technology conglomerate. Operations are focused on fintech, cleantech, and industrial electronics sectors. Solutions in digital payments, biometric authentication, energy storage, and power management are developed to serve diverse ecosystems, including remote areas globally. A commitment to the triple bottom line of people, planet, and profits is maintained through indigenous technology. Growth strategies under Vision 2025 are being implemented to achieve long-term goals across brand, culture, and digital transformation.
Who are the top competitors of Evolute?
What products or services does Evolute offer?
Evolute offers Fintech Innovations, Cleantech Solutions, Industrial Electronics, and Digital Payment Solutions.
Who are Evolute's investors?
Evolute has 1 investor. Key investors include Vertex Financial Solutions.
What is Evolute's valuation?
The valuation of Evolute is $5.69M as of Oct 2011.
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