The startup plans to utilise the fresh capital for product development and expansion in new markets
Tech startup Pyxis One has raised $17 million in its Series B funding. The round was co-led by Celesta Capital and Premji Invest, while previous investors Chiratae Ventures, pi Ventures, and Exfinity Venture Partners also participated in the round. The startup plans to utilise the fresh capital for product development and expansion in new markets. Moreover, the latest funding round brings total funding to $24 million, the company said in a statement. “The new funds will enable us to speed up product development, hire more AI experts and data scientists, and expand our sales and marketing to additional markets,” Shubham A Mishra, global CEO, Pyxis One, said.
“Marketing can become 10 times more efficient if every team that plays a role in appealing to consumers can collaborate and work together using precise AI-driven insights. With AI’s agility and scalability, we bridge the gap between marketers and data scientists, and enable them to make better decisions in the backdrop of accurate and dynamic consumer insights,” Mishra added.
While Pyxis One helps enterprises scale data-driven marketing, it plans to add over 200 AI models to the AI infrastructure over the next two years. These AI models, trained with billions of cross-industry data points, can be utilised by brands from every industry, the company said. Moreover, it claims to have witnessed a 550% growth since its inception in 2018.
According to Atul Gupta, partner, Premji Invest, every enterprise is either already rearchitecting themselves to adopt AI, or are dependent on one or more AI-driven platforms. Pyxis One stands out as it helps consumer-first enterprises adopt AI for their marketing and business growth without causing any disruption in business, Gupta added.
“Modern businesses are looking to use advanced elements of artificial intelligence and machine learning to deliver targeted and effective marketing. These capabilities are important for enterprises looking to benefit from next generation marketing technologies. Pyxis One’s platform delivers on this promise.” Sriram Viswanathan, founding managing partner, Celesta Capital, said.
As stated by Neel Pandya, APAC CEO, Pyxis One, the real clincher is that the startup’s ecosystem of products are completely codeless thereby easing the adoption of AI for its customers. The Series B funding will allow it to aggressively pursue the development of more AI models, Pandya added.