A US-headquartered start-up secured $650 million in seed funding it stated would drive its work to employ agentic AI to tackle a hefty annual bill enterprises face to connect APIs.

Refold AI stated the funding brings it out of stealth mode and enables it to expand its engineering staff and product integrations to tackle the estimated $350 billion enterprises pay consultancies and systems integrators to handle API processes.

Eniac Ventures and Tidal Ventures led the round, with Better Capital, Ahead VC, Karman Ventures, Z21 “and other notable angels” also participating.

Refold AI’s proposition involves using the technology to provide enterprises with autonomous agents which can learn how their software systems work and interact.

“We’re not building another workflow tool. We’re replacing the consultant economy with agents that learn and scale,” Refold AI co-founder and CTO Abhishek Kumar (pictured) said.

Hadley Harris, founding general partner at Eniac Ventures, explained the company is an attractive investment because “enterprise integrations stand out as one of the most compelling and valuable use cases” of the agentic AI era.

“For years, companies have burned billions on brittle, bloated workflows.”

In play
Current customers are employing Refold AI’s system to synchronise enterprise resource planning with customer relationship management, automate finance processes and control mission-critical supply chain flows.

Refold AI explained its platform employs an architecture comprising workflow code agents, a natural language interface and an integration platform for user interface components.

The code agents enable engineers to “generate, test and maintain integration logic without boilerplate” and the interface handles definitions of workflow outcomes for the AI agents.

Refold AI pitched an ability to make “every edge-case request into a repeatable, productised agent” as its unique selling point, one which tackles the hourly rates typically levied by consultancies and systems integrators.