2024/06/20 19:31 pm
OrbitShift, an Artificial Intelligence-based enterprise software firm, has raised USD 7 million in a seed funding round led by Peak XV’s Surge and Stellaris Venture Partners, indicating rising investor interest in 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.
Founded in 2022, by Saurabh Mishra and Swapnil Saykar, OrbitShift’s platform is created to enhance and assist the entire sales ecosystem of companies.
OrbitShift's products include accountOS, rfpOS, and pitchOS, which caters to the full sales lifecycle with its enterprise customers based in the United States, EU, and in the Asia-Pacific region.
The startup intends to use the funds to build an AI-native sales operating system for enterprise customers. The latest funding round follows a pre-seed round of USD 1.5 million, which brings the total funds raised by the company to USD 8.5 million.
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.
The firm is also looking to invest in the product side. OrbitShift's investment comes at a time when investors are doubling down on the AI segment.
Last week, Clodura.AI raised USD 2 million (about INR 16.6 crore) in a funding round led by the 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, raised about USD 63 million in a new funding round that values the company at more than USD 1 billion.
“We expect AI to transform all business functions. However, some functions, like enterprise sales, require more judgment 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%, accelerating activities such as client outreach, creating high-quality Request for Information (RFI) responses, and building impactful content for client meetings.
The ninth unit of Peak XV Partners’ scale-up programme for early-stage startups, Surge’s investments include Ethereal Machines, ZeroK, Australia-based Relevance AI and Singapore’s Pix.ai in the deeptech manufacturing and AI space.
Article Sources – OrbitShift (Press Release), MoneyControl