Pyxis Locks $17M In Series B Funding

Pyxis One has closed $17M in Series B funding. With total funding of $24 million, the tech startup plans to use this round of capital for investments in product development and to expand to new markets.

Celesta Capital and Premji Invest co-led the round with participation from previous investors Chiratae Ventures, pi Ventures, and Exfinity Venture Partners. “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. “Pyxis One stands out by helping consumer-first enterprises adopt AI for their marketing and business growth without having to disrupt the business at all.”

Pyxis One enables enterprises to scale accurate data-driven marketing. The startup’s codeless AI ecosystem comprises dozens of AI models deployed across different aspects such as targeting, optimization, creative recommendation, and consumer research, enabling a complete ecosystem that can help teams collaborate, and leverage capabilities enabled by the adoption of AI.

“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. “These capabilities are important for enterprises looking to benefit from next-generation marketing technologies. Pyxis One’s platform delivers on this promise, and we are delighted to back this team to realize this potential.”

The company is looking to add over 200 AI models to the AI infrastructure over the next two years. These AI models are trained with billions of cross-industry data points that brands from every industry can utilize. The platform also future-proofs AI structure and deployment to inherit new models and customize them without any rework.

"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," says Shubham A Mishra, Global CEO of Pyxis One. “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.”

The AI SaaS startup has witnessed a 550% growth since its inception in 2018 and has a customer base across different industries including retail, automotive, healthcare, finance, and food tech. These customers are witnessing at least a 30% increase in their marketing efficiency and consumer intelligence, on average.

APAC CEO, Neel Pandya shared, “The real clincher is that our ecosystem of products is completely codeless thereby easing the adoption of AI for our customers. Our series B funding will allow us to aggressively pursue the development of more AI models to strengthen the infrastructure and expand into newer markets.”

Adding on to the growth playbook for Pyxis One in 2021, Pandya added, "Our biggest strength is a strong, extremely talented, passionate and growth-oriented team. Every member of the Pyxis One family understands and contributes to our business growth. I know without an iota of doubt that we have excellent products which bridge some very real and crucial gaps in the business growth landscape. In addition to a talented team and excellent products, we also have solid support from our network of highly experienced and seasoned investors whom we never hesitate to utilize as our sounding boards.

I would say that our growth playbook majorly involves nurturing our talented team, giving them every opportunity to continue upgrading and innovating more excellent products, and leveraging our investors' knowledge and expertise to ensure we are growing and expanding in the absolute right direction."