TL;DR:
- Pixis, a martech startup, has raised $85 million in Series C1 funding led by Touring Capital.
- Existing and new investors, including Grupo Carso, General Atlantic, Celesta Capital, and Chiratae Ventures, participated in the funding round.
- Pixis, founded in 2017, offers a codeless AI infrastructure for marketing and a full-stack AI-powered product suite.
- The startup has more than 200 proprietary AI models and provides AI solutions from campaign optimization to creative asset generation.
- Funding will support global expansion, enhance AI capabilities, invest in R&D for a generative AI-powered creative studio, and build strategic partnerships.
- Pixis has successfully beta-tested its generative AI-powered creative studio and introduced new products for cross-platform growth marketing.
- The Indian martech sector is poised for substantial growth, with projections reaching $35 billion to $50 billion by 2026.
Main AI News:
Pixis, the cutting-edge martech startup, has just locked in an impressive $85 million in funding during its Series C1 financing round, spearheaded by the visionary Touring Capital. Notably, both established and fresh investors have rallied behind Pixis, including esteemed names like Grupo Carso, General Atlantic, Celesta Capital, and Chiratae Ventures.
Founded in 2017 by the brilliant minds of BITS Pilani dropouts Shubham Mishra, Vrushali Prasade, and Harikrishna Valiyath, Pixis has carved a niche for itself as a premier codeless AI infrastructure provider tailored exclusively for the marketing sector. The company’s comprehensive suite of AI-powered products empowers enterprises to elevate various facets of their marketing strategies and fortify their decision-making capabilities.
Distinguished by its codeless infrastructure, which boasts an impressive arsenal of over 200 proprietary AI models, Pixis offers a plug-and-play array of AI solutions. These encompass everything from campaign optimization to the seamless generation of creative assets, making it a go-to choice for forward-thinking businesses.
The newly secured funds will be instrumental in propelling Pixis onto the global stage and further enhancing the platform’s AI prowess. A significant portion of this capital injection will be channeled into research and development (R&D) efforts, with the imminent launch of a generative AI-powered creative studio already in the beta phase. Additionally, Pixis plans to leverage these resources to foster strategic partnerships and develop innovative products that will shape the future of marketing.
In a landmark achievement this year, Pixis conducted successful beta testing of its generative AI-powered creative studio and introduced a range of new products geared towards cross-platform growth marketing. The company also initiated the live deployment of its AI solutions tailored specifically for B2B enterprises in 2023, positioning itself as a game-changer in the industry.
Shubham Mishra, one of Pixis’ co-founders, expressed his enthusiasm about the company’s growth trajectory, stating, “This is shaping up to be an exciting year for Pixis as we welcome Touring Capital as investors… With this capital raised, we will continue to concentrate on strategic channel partnerships with renewed vigor and invest heavily in our R&D efforts.“
Nagraj Kashyap, Cofounder and General Partner at Touring Capital, shared his perspective on the funding round, saying, “We passionately believe in the power of generative AI to transform enterprise software use cases. We see Pixis as a pioneer in this category and have been thoroughly impressed by the platform’s powerful technical capabilities translating into rapid customer adoption…“
With this latest funding injection, Pixis has now secured a grand total of $209 million in capital since its inception. The company takes pride in its collaboration with over 200 esteemed global and domestic brands, including industry giants such as DHL, Carsome, JOE & THE JUICE, Kavak, HDFC Bank, and many others.
As India experiences an unprecedented surge in digital outreach due to the growing prevalence of smartphones and internet usage, martech tools are rapidly becoming indispensable for brands striving to achieve precision in their digital marketing endeavors. Intriguingly, while global spending on martech solutions typically accounts for approximately 25% of the total marketing budget, Indian enterprises currently allocate less than 15% of their budgets to this segment, according to the Mirum India MarTech Report.
This statistic underscores the tremendous growth potential within the Indian martech industry. Projections indicate that by 2026, the Indian martech sector is poised to achieve a remarkable market size ranging from $35 billion to $50 billion. Pixis, armed with its innovative AI-driven solutions, stands primed to play a pivotal role in shaping the future of this dynamic landscape.
Conclusion:
Pixis’ latest funding round demonstrates strong investor confidence in the potential of AI-driven martech solutions. With substantial capital and a commitment to innovation, Pixis is well-positioned to lead in the rapidly growing Indian martech sector, where businesses are increasingly recognizing the importance of digital marketing tools. This investment not only boosts Pixis but also reflects the broader trend of technology-driven marketing transformations, setting the stage for a dynamic and competitive market landscape in the coming years.
