AI company Metaforms, located in Bengaluru, secures $9 million in funding, with Peak XV Partners heading the investment round
Metaforms, a B2B AI startup based in Bengaluru, India, has raised $9 million in a Series A funding round. The funding was led by Peak XV Partners, with participation from Nexus Venture Partners and Together Fund.
Founded in 2022 by Akshat Tyagi and his team, Metaforms aims to make high-quality research more accessible to more companies by automating grunt work. The startup builds AI agents that automate operational workflows for market research firms, such as survey programming and data processing.
The funding will support the expansion of Metaforms' engineering and AI research team in India and facilitate the opening of a new office in New York. This move is expected to help the startup scale rapidly, enabling some of the largest research agencies globally to automate workflows and increase productivity.
Akshat Tyagi, co-founder and CEO of Metaforms, stated that the goal of the startup is to help research teams reduce time spent on firefighting and focus more on meaningful work. Manav Garg, Co-founder and managing partner at Together Fund, described Metaforms as a breakout example of the India-to-global play in AI.
Metaforms began commercial operations six months ago and has already signed on clients including Dynata, Savanta, and STRAT7. The startup's platform now processes more than 1,000 surveys a month.
Shailendra Singh, MD of Peak XV, expressed enthusiasm about partnering with Metaforms and reimagining what a market research agency could look like in an AI-first world. He also highlighted the early traction of Metaforms across global agencies.
Unlike other AI solutions, Metaforms' agents are designed to assist researchers and augment their productivity. Garg further stated that Metaforms is not just automating tasks, but rebuilding research infrastructure for the modern era.
The clients of Metaforms are primarily based in North America and Europe, reflecting the global appeal of the startup's services. However, the search results do not provide information about the founder and CEO of Metaforms.
Metaforms' funding round marks a significant milestone in the startup's journey towards transforming the market research industry. With the raised capital, Metaforms plans to grow the team, expand into new workflows like report generation and voice-based research, and deepen integrations with tools like Decipher, SPSS, and Confirmit.
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