AI company Metaforms, headquartered in Bengaluru, secures $9 million funding round led by Peak XV Partners.
Metaforms, a B2B AI startup based in Bengaluru, India, has announced that it has raised $9 million in a Series A funding round. The funding round was led by Peak XV Partners, with participation from Nexus Venture Partners and Together Fund, the co-founder and managing partner of which, Manav Garg, described Metaforms as a breakout example of the India-to-global play in AI.
Founded in 2022 by Akshat Tyagi and Arjun S., Metaforms builds AI agents that automate operational workflows for market research firms. The startup has signed on clients including Dynata, Savanta, and STRAT7, with the majority of its clients based in North America and Europe.
According to Akshat Tyagi, co-founder and CEO of Metaforms, the goal of the startup is to help research teams spend less time on firefighting and more on meaningful work. The AI agents are positioned as assistants that augment researchers' productivity, rather than replacing human workers.
Shailendra Singh, MD at Peak XV, expressed excitement about partnering with Metaforms and reimagining what a market research agency could look like in an AI-first world. He also mentioned that Metaforms is scaling rapidly by enabling some of the largest research agencies globally to automate workflows such as survey programming and data processing through their suite of AI agents.
The funding will be used to expand Metaforms' engineering and AI research team in India and open a new office in New York. In addition, the funds will be used 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.
Metaforms' platform now processes over 1,000 surveys per month, and the startup has begun commercial operations six months ago. According to Manav Garg, Metaforms is not just automating tasks but is rebuilding research infrastructure for the modern era.
Despite the success, the search results do not provide information on which customers of Metaforms have used the service for six months since the start of commercial operations. However, the company's rapid growth and impressive client list suggest that Metaforms is making a significant impact in the market research industry.
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