Hypersonix raises USD35 mn Series B funding

The series B investment round was led by existing investor, B Capital Group, with participation from Intel Capital, Firebolt Ventures, Magicus Ventures and Gokul Rajaram, among others, a statement said.

The US-based company has now raised over $50 million in capital, and the latest financing more than quadruples the valuation of its series A round ($15 million) in March 2020, it added. Now more than ever, AI is emerging as a key enabler for all commerce enterprises, offering business growth possibilities with the ability to adapt to customer preferences and navigate the dynamically evolving market landscape, Hypersonix co-founder and Chief Product and Data Officer Rama Rao said. “...We are planning to use the raised amount in accelerating and deepening our Commerce AI infrastructure while also focusing on expanding sales and marketing footprint globally,” Rao added.

This will enable the company to deliver more data driven business solutions and strategies for enterprises across commerce verticals, Rao stated. Hypersonix forayed into India in 2018 and since then has been growing at a steady rate.

The company currently employs over 100 employees in Bengaluru and Coimbatore and is planning to double it by FY 2022.