California based Pyxis One will use the freshly raised funding in expanding new markets and strengthening & improving the product.
Silicon Valley based investment firm, Pyxis One has raised $17 million in a Series B funding round co-led by Celesta Capital, a Silicon Valley-based investment firm, and Premji Invest.
The funding round also saw participation from existing investors – pi Ventures, Chiratae Ventures, and Exfinity Venture Partners. Up till now the startup has raised $24 Million.
Pyxis One was founded by BITS Pilani graduates Vrushali Prasade, Hari V, and Shubham Mishra, in 2018. The startup provides codeless artificial intelligence platforms to marketers to scale their marketing initiatives. The firm provides accurate data as well.
Global CEO of Pyxis One, Shubham A Mishra, said “Because of AI’s agility and scalability, we bridge the gap between marketers and data scientists which enable them to make better decisions in making accurate and dynamic consumer insights. The freshly raised funding will help us to speed up our product development, hire new talents and expand our sales and marketing additional markets”.
“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.
Associated with India’s top brands i.e Pharmeasy, Swiggy, Lakme and HDFC Bank the startup claims that it has achieved 550 percent growth in last 3 years.
“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.