Hypersonix, an enterprise AI platform for commerce, on Thursday announced the closing of a $35 million Series B funding round at a valuation of $200 million. The investment was led by existing investor B Capital Group with participation from Intel Capital, Firebolt Ventures, Magicus Ventures and Gokul Rajaram, among others.
Rama Rao, Co-founder and Chief Product and Data Officer at Hypersonix, said, “Being a leader in implementing state-of-the-art technology, we are planning to use the raised amount to invest in accelerating and deepening our commerce AI infrastructure while also focusing on expanding sales and marketing footprint globally. This will enable us to deliver more data-driven business solutions and strategies for enterprises across commerce verticals.”
The company has now raised over $50 million in capital, and the latest financing more than quadruples the valuation of its Series A round in March 2020.
Driving productivity and growth
Rashmi Gopinath, General Partner at B Capital Group, said: “Hypersonix has built a mission-critical commerce intelligence platform, which allows organisations to connect their various back-office operational systems and turn that into real-time intelligence across their enterprise to take proactive and adaptive actions, driving business growth.
“Various top brands and retailers like Giant Eagle, Intel, Armada, Global Partners today trust Hypersonix to help them on their AI journey, drive productivity, and unlock growth.”
Hypersonix recently announced the onboarding of Kumar Srivastava as Chief Technology Officer at the company. He will focus on leading the development team to roll out new offerings while overseeing the implementation of on-going improvements to existing products. He will also lead and manage India operations.
Hypersonix forayed into India in 2018 and currently employs over 100 employees in Bengaluru and Coimbatore. It is planning to double this number by FY22.
Detailing future plans for India, Rama said, “We built our AI platform here and are elated to be expanding our operations even further. India will remain a talent focus for Hypersonix as we scale up over the next few years. We are actively looking to expand our footprint here, and are looking for exceptional talent to join our team.”