AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners
June 20, 2024
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.
Use of Funds
The proceeds will support expansion efforts in the US market and technology investments. OrbitShift also intends to strengthen its product and technology teams to broaden its offering.
CEO Statement
Co-founder and CEO Saurabh Mishra noted the company has experienced strong traction, stating "we have seen phenomenal traction over the last 18 months with some of the leaders in the industry being our clients."
Company Overview
Founded in 2022, OrbitShift operates as a comprehensive platform serving pre-sales, sales operations, and marketing functions within technology and IT services sectors. The platform uses specialized AI models and large language models, primarily targeting large enterprises across the US, EU, and Asia Pacific regions.
Funding History
This represents the company's second institutional funding round. A $1.5 million pre-seed round occurred in 2023 from Stellaris Venture Partners and angel investors, bringing total capital raised to $8.5 million.
Performance
The company reports reducing research and sales planning time by 40-50% for enterprise clients, accelerating outreach, response generation, and content creation.
Investor Commentary
Alok Goyal from Stellaris Venture Partners emphasized that "AI can make a massive impact" on large businesses while highlighting the technical challenges of achieving high accuracy standards. He expressed confidence that enterprise processes will be reimagined through AI, driving new startup creation in the space.