PyxisPM, which operates an eponymous artificial intelligence (AI)-based marketing cloud startup in Bengaluru, has raised $7 million (Rs 52 crore) in a Series A funding round.
The round was led by Chiratae Ventures, Pi Ventures along with Pyxis’ existing investor Exfinity Venture Partners, the startup said in a statement.
“Our creative AI actions have increased by more than 500% in the last year. We plan to use the funding to expand our global presence and strengthen our artificial intelligence capabilities. In addition to that, we also want to start rolling out our integrated predictive marketing ecosystem which equips enterprises with self - serving social, creative and digital ads intelligence,” the founders of Pyxis said.
Founded in 2017 by three BITS Pilani dropouts Shubham Mishra, Vrushali Prasade, and Harikrishna Valiyath, the startup has developed an AI-based marketing cloud to automate creative management and generation at scale, along with detailed insights.
The company claims to have more than 50 clients including brands such as HDFC Bank, Bajaj Auto, Tata AIG, BookMyShow, and startups like Swiggy, Livspace, Cure.fit, MPL and MamaEarth.
With this deal, Venkatesh Peddi, executive director at Chiratae Ventures will join Pyxis’ board.
“The Pyxis team has leveraged AI in extremely innovative ways to address some very vexing problems faced by marketing teams universally. We believe, as the marketing function evolves in the modern age, solutions like Pyxis will become indispensable tools,” Peddi said.
According to the statement, Pyxis competes with established marketing-technology firms such as Sprinklr, Celtra, and Bynder. In India, it also competes with MoEngage.