OrbitShift, an Artificial Intelligence-based enterprise software firm, has raised $7 million in a seed funding round led by Peak XV’s Surge and Stellaris Venture Partners, indicating rising investor interest on for AI SaaS startups.
OrbitShift plans to utilize the funding to expand its customer base and continue building newer AI based products for the sales ecosystem.
"We are going for investment right now to build on the momentum we’ve seen in the last 6 months, we are only 18 months old and we’ve seen great success. We want to double down on our expansion of the customer base in the US," Saurabh Mishra, cofounder and CEO of OrbitShift told Moneycontrol.
Founded in 2022, by Mishra and Swapnil Saykar, OrbitShift’s platform is created to enhance and assist the entire sales ecosystem of companies.
OrbitShift's products which use AI can be used across sales, pre-sales, sales operations, and marketing teams within enterprises and gain account insights and relevant actions, key account planning, and targeted pitch content generation which will help in driving a coordinated GTM motion.
"IT services is a pretty large industry, lots of companies in India but majority of them are in the US and western European market. Our focus first is on Indian heritage players but we want to double down in the other markets as well," Mishra said.
The firm is also looking to invest on the product side.
"We want to serve our customers with a larger product assortment. We’ve so far built accountOS, RFPos, PitchOs. We want to make this more robust to serve our client," Mishra added.
OrbitShift's investment comes at a time when investors are doubling down on the AI segment.
Last week, Clodura.AI raised $2 million (about Rs 16.6 crore) in a funding round led by Bharat Innovation Fund. Similarly, last month, Perplexity AI, a startup using artificial intelligence to build a search engine to compete with Alphabet Inc.’s Google, has raised about $63 million in a new funding round that values the company at more than $1 billion.
“We expect AI to transform all business functions. However, some functions, like enterprise sales, require more judgement and are therefore harder to tackle with AI. This complexity presents an opportunity to build a generational AI-native software business, and we believe OrbitShift is poised to do just that," said Alok Goyal, Partner at Stellaris Venture Partners.
OrbitShift claims to have reduced research and sales planning time by 40-50 percent, accelerating activities such as client outreach, creating high-quality Request for Information (RFI) responses, and building impactful content for client meetings.
"While we are at an early stage, we are a revenue making organisation. We’ve had significant traction. We would like to become the most preeminent AI service provider to the industry we’re catering to and get a significant wallet share from the players," Mishra said.
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