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Pixis raises $100 million funding from SoftBank, others

California-based technology company Pixis (formerly known as Pyxis One) on Thursday said it has raised USD 100 million (about Rs 743.8 crore) in funding, led by SoftBank Vision Fund 2.

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California-based technology company Pixis (formerly known as Pyxis One) on Thursday said it has raised USD 100 million (about Rs 743.8 crore) in funding, led by SoftBank Vision Fund 2.

The Series C round also saw participation from new investor General Atlantic, and existing investors Celesta Capital, Premji Invest, and Chiratae Ventures, a statement said.

This round has enabled Pixis' early investor Exfinity Venture Partners to make a partial exit, it added. In a separate statement, Exfinity Venture Partners announced the sale of 2.54 per cent of its holding in Pixis to existing institutional investors.

"Exfinity has earned a stellar multiple of 37x from Pixis and are returning close to 30 per cent of the total corpus of their fund. With the partial exit, Exfinity will continue to maintain significant holding in Pixis," it added.

Pixis, which had closed a USD 17 million Series B round four months ago, has raised a total of USD 124 million to date. Pixis will leverage the fresh funds to help the company rapidly scale its AI platforms and plugins, as well as accelerate expansions across North America, Europe, and India, the statement said.

Founded in 2018, by Shubham A Mishra (Global CEO), Vrushali Prasade (CTO) and Harikrishna Valiyath (CBO), Pixis provides codeless AI infrastructure to enable customers to scale accurate data-driven marketing. It has a team of over 300 professionals.

The company's customers include HDFC Bank, Swiggy, ITC, Van Heusen, Star India, Epigamia, GIVA, Pharmeasy, UTI, Tata Consumers Limited, Welspun, Livspace, Bajaj, DBS and others. Mishra said the web is going cookieless, in conjunction with decreasing access to the depth of data that was previously available, is a worrisome situation for marketers.

Pixis aims to add over 200 customisable self-evolving AI models to the infrastructure it offers and has already introduced close to four dozen AI models since its last funding.

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