Pyxis One Raises $17 Mn Series B Round Co-led By Celesta Capital and Premji Invest

The tech startup plans to utilize funds in product development and to expand to new markets

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pyxis One—a California-based tech startup that aims to revolutionize marketing and consumer intelligence by providing an all-in-one, codeless AI platform—recently announced to have closed $17 million in Series B funding. Celesta Capital and Premji Invest co-led the round with participation from previous investors Chiratae Ventures, pi Ventures, and Exfinity Venture Partners.

Pyxis One

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.

"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 Mishra, chief executive officer, 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.”

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.

“The real clincher is that our ecosystem of products are 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,” shared Neel Pandya, Asia-pacific chief executive officer, Pyxis One.

“Every enterprise is either already rearchitecting themselves to adopt AI, or are dependent on one or more AI-driven platforms,” commented Atul Gupta, partner, 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.”

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.

“Modern businesses are looking to use advanced elements of artificial intelligence and machine learning to deliver targeted and effective marketing,” added Sriram Viswanathan, founding managing partner, 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 AI SaaS startup has witnessed a 550 per cent 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 per cent increase in their marketing efficiency and consumer intelligence, on average.