Enterprise AI startup Hypersonix has closed its Series B investment round by raising $35 million at a valuation of $200 million. The round was led by existing investor B Capital Group with participation from Intel Capital, Firebolt Ventures, Magicus Ventures and Gokul Rajaram, among others, said the company.
“We are planning to use the raised amount 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,” said Rama Rao, Co-founder and Chief Product and Data Officer at Hypersonix.
The company said it has now raised over $50 million in the capital, and the latest financing more than quadruples the valuation of its Series A round in March 2020.
“Hypersonix has built a mission-critical Commerce Intelligence platform which allows organizations 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. Various top brands and retailers like Giant Eagle, Intel, Armada, Global Partners today trust Hypersonix to help them on their AI journey and drive productivity and unlock growth,” said Rashmi Gopinath, General Partner at B Capital Group
Hypersonix also recently announced the onboarding of Kumar Srivastava as Chief Technology Officer to lead its development team to roll out new offerings while overseeing the implementation of ongoing improvements to existing products.
Hypersonix forayed into India in 2018 and since then has been growing at a steady rate. The company currently employs over 100 employees in Bengaluru and Coimbatore and is planning to double it by FY 2022.