Private equity firm Confidus Investment Partners AB is acquiring an equity stake in EvoluteIQ Ltd., a privately held Intelligent Process Automation company, for an undisclosed sum.

As part of the transaction, Confidus co-founder Peter Dahlgren will join the company's board, according to a July 31 news release.

The company will use the investment to further invest in its research and development center in Bangalore, India, enhance its technology platform and increase sales and delivery operations.

London-headquartered EvoluteIQ is an intelligent automation company with a technology platform which accelerates the adoption of RPA & AI technologies across industries.