Artificial intelligence-powered sales-intelligence startup OrbitShift has raised $7 million in a seed-funding round led by Peak XV Partners' Surge scale-up programme and Stellaris Venture Partners.
The proceeds will be used to increase investments to expand the company’s presence and customer base in the US. OrbitShift also plans to invest in its technology and product teams to widen its product portfolio.
“We are at an interesting juncture, where we have seen phenomenal traction over the last 18 months with some of the leaders in the industry being our clients,” OrbitShift cofounder and chief executive Saurabh Mishra told ET.
Founded in 2022, OrbitShift is a one-stop platform that empowers the entire sales ecosystem, including pre-sales, sales operations, marketing insights for technology and IT services companies. The platform leverages purpose-built models and large language models, catering primarily to large enterprise customers that have users based in the US, European Union and Asia Pacific.
This is OrbitShift’s second institutional funding, following a pre-seed funding of $1.5 million in 2023 from Stellaris Venture Partners and other angel investors, bringing the total funds raised to date to $8.5 million.
“The OrbitShift team is targeting some of the largest businesses in the world and there is no doubt that AI can make a massive impact on them and therefore on their customers," said Alok Goyal, partner at Stellaris Venture Partners.
"But you need to meet a bar for accuracy which is very high and building a product and the underlying technology stack for that is therefore non-trivial and costs money,” he said.
OrbitShift operates on a subscription-based model, charging clients based on the duration of the deal and various parameters such as users and accounts created.
The company claims to reduce research and sales planning time for enterprise customers by 40-50%, accelerating activities such as client outreach, creating high-quality responses, and building content for client meetings, enhancing productivity and client relationships.
“We believe that pretty much every enterprise process that we know of will be rethought or will be reimagined and therefore, we are massive believers of a lot of new great enterprise application startups being created,” Goyal added.
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.