[Funding alert] Codeless AI-platform Pyxis One raises $17M from Celesta Capital, Premji Invest
California-basedhas raised $17 million in a Series B funding round co-led by Celesta Capital, a Silicon Valley-based investment firm, and Premji Invest, according to a release shared by the company.
The round also saw participation from existing investors - pi Ventures, Chiratae Ventures, and Exfinity Venture Partners.
Pyxis One will use the funds from the round to develop the product and expand in new geographies. So far, the startup has raised $24 million.
Founded in 2018 by BITS Pilani graduates Vrushali Prasade, Hari V, and Shubham Mishra, Pyxis One provides codeless artificial intelligence-led platform to marketers, among other creative professionals, to scale their marketing initiatives. The firm provides accurate data as well.
“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. 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," said Shubham A Mishra, Global CEO of Pyxis One, in the release.
"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," said Shubham A Mishra, Global CEO of Pyxis One, in a release shared by the firm," he added.
The firm claims to have seen a 550 percent growth since it was founded three years ago, and caters to companies across industries, including automotive, retail, healthcare, finance and food tech. Pharmeasy, Swiggy, Lakme and HDFC Bank are a few firm in Pyxis One clientele.
"Every enterprise is either already rearchitecting themselves to adopt AI, or are dependent on one or more AI-driven platforms,” said Atul Gupta, Partner at Premji Invest.
Marketing has also become one of the most important aspect as most consumer-facing companies are scaling online.
“Modern businesses are looking to use advanced elements of artificial intelligence and machine learning to deliver targeted and effective marketing,” said Sriram Viswanathan, Founding Managing Partner at Celesta Capital.