Hypersonix, an enterprise AI platform for commerce, has raised $35 million as part of its Series B funding round led by existing investor B Capital Group, with participation from Intel Capital, Firebolt Ventures, Magicus Ventures and Gokul Rajaram, among others.
The round values the company at $200 million.
The firm has now raised more than $50 million. The latest financing more than quadruples its valuation from its Series A round in March 2020, when it raised $11.5 million led by Intel Capital, taking its total funds raised to $15 million last year.
Founded in 2018 by Prem Kiran and Rama Rao in San Jose, California, Hypersonix entered India the same year and has been growing at a steady rate. It has over 100 employees in Bengaluru and Coimbatore and is planning to double that by the end of this financial year.
Hypersonix has built a commerce intelligence platform which allows organisations to connect their various back-office operational systems and turn that into real-time intelligence across their enterprise to take proactive and adaptive actions, driving business growth. Its current clientele includes brands and retailers such as Giant Eagle, Intel, Armada and Global Partners.
“Now more than ever, AI is emerging as a key enabler for all commerce enterprises, offering business growth possibilities with the ability to adapt to customer preferences and navigate the dynamically evolving market landscape,” Rao, who is also its chief product and data officer of the company, said.
“We are planning to use the raised amount to invest in accelerating and deepening our Commerce AI infrastructure while also focusing on expanding sales and marketing footprint globally. This will enable us to deliver more data-driven business solutions and strategies for enterprises across commerce verticals,” he added.
Detailing its India plans, Rao said, “We built our AI platform here and are elated to be expanding our operations even further. India will remain a talent focus for Hypersonix as we scale up over the next few years. We are actively looking to expand our footprint here and are looking for exceptional talent to join our team.”
Source: economictimes.indiatimes.com
