AI startup Metaforms raises $9M led by Peak XV Partners

Metaforms, a tech startup that automates processes for consumer marketing firms through AI agents, has raised $9 million in a Series A round of funding led by Peak XV Partners, with participation from Nexus Venture Partners and Together Fund.

Founded in 2022 by Akshat Tyagi and Arjun S, Metaforms will utilise the funding primarily towards hiring of talent who will work on projects like report generation and voice-based research.

According to a statement, Metaforms claimed that its AI agents automate survey programming, data processing, and vendor coordination. This allows the marketing agencies to handle more projects.

Metaforms launched its product six months ago and claimed that it has signed four market research agencies. The platform processes over 1,000 surveys per month.

The startup said the big challenge for market research agencies, given the growing demand for their services, is rising expectations from their clients in terms of faster turnarounds, competitive pricing, and diverse capabilities. Their current systems, which are manually driven, are often unable to meet the customers’ requirements.

On the investment into Metaforms, Peak XV Partners MD Shailendra Singh said, “Metaforms is scaling rapidly by enabling some of the largest research agencies globally to automate workflows such as survey programming and data processing through their suite of AI agents."

“They're solving a major pain point for the entire industry. That focus and ability to deeply understand customer needs and address that using generative AI is the hallmark of the Metaforms team,” said Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners.

As part of its future plans, Metaforms plans to add newer capabilities to its AI agents, which include voice research, automated report generation, and expanded language support. The goal is to process over 100,000 surveys per year.