Nurix AI Raises $27.5 Million in Seed-Series A Funding Co-led by General Catalyst and Accel
- ByStartupStory | September 24, 2024
Nurix AI, the latest venture by Mukesh Bansal, co-founder of Myntra and Cultfit, has secured $27.5 million in seed-Series A funding, split into two tranches. The round was co-led by prominent venture capital firms General Catalyst and Accel, with additional participation from Meraki Labs. Founded earlier this year, Nurix AI focuses on creating custom AI agents designed to boost productivity and enhance customer experiences for global enterprises through advanced human-like voice and reasoning abilities.
Mukesh Bansal announced the funding news in a LinkedIn post, expressing excitement about the journey ahead:
“Excited to announce the launch of Nurix and our successful fundraise of $27.5 million from General Catalyst, Accel, and Meraki Labs. Look forward to working closely with Deep Nishar and Subrata Mitra to build out the future of Enterprise AI. AI is at an inflection point, and India has some of the best AI talent globally, and we’re proud to be assembling the country’s leading AI team,” said Bansal.
Nurix AI’s core mission is to provide low-latency, high-accuracy AI solutions powered by generative AI (GenAI), with a particular emphasis on enhancing voice and reasoning capabilities. The company plans to use the funds to scale its technology, boost research and development (R&D), and expand operations to meet the increasing demand for custom AI solutions across Asia and North America. According to the company, the funding will also support its efforts to build long-term partnerships with AI hardware and product companies, allowing it to further establish its market presence.
In a statement, Nurix AI outlined the challenges businesses face when adopting GenAI technology. Enterprises frequently struggle with system integration, data handling, and scalability, all while maintaining security and operational precision. Nurix AI seeks to address these obstacles by delivering scalable, human-like AI solutions that integrate seamlessly with existing business workflows.
“Nurix AI is addressing the critical challenges enterprises face in adopting AI at scale—namely, the integration of customised AI solutions with existing workflows, while balancing the precision of AI with the empathy of human oversight,” said Subrata Mitra, Partner at Accel. “India has become the world’s services destination, and with the advent of GenAI, that trend is set to accelerate even further. At Accel, our partnership with Mukesh spans his remarkable successes with Curefit and Myntra,” Mitra added.
Nurix AI’s debut product is geared toward transforming the $300-billion BPO industry. By blending AI’s advanced capabilities with human oversight, the startup aims to create AI-driven, human-augmented customer experience solutions. These solutions will enable enterprises to engage with customers in more personalized and scalable ways while maintaining empathy and reliability—key aspects of customer interactions that human agents typically provide.
“AI is fundamentally reshaping enterprises, and the shift is happening rapidly. Enterprises need partners who deliver production-grade, customised AI solutions that are tailored to their unique needs,” said Deep Nishar, Partner at General Catalyst. “We believe that Nurix’s focus on practical, scalable implementations, combined with its entrepreneurial team’s proven track record, makes Nurix an essential partner for companies looking to harness the true power of AI,” Nishar added.
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