TLDR: Plexe, an AI firm co-founded by Vaibhav Dubey and Marcello De Bernardi, has successfully raised $2.1 million (₹19 crore) in seed funding. The London-based startup, backed by Y-Combinator, specializes in developing AI agents that create predictive machine learning models for businesses. With plans to expand its engineering team and establish an AI engineering lab, Plexe aims to grow its client base and achieve Series A funding within two years, with potential expansion into the US and India.
Plexe, an innovative artificial intelligence firm, has announced the successful closure of its seed funding round, securing $2.1 million (₹19 crore). The investment will fuel the company’s ambitious plans to expand its AI agents for enterprises and set its sights on a Series A funding round in the near future. The London-based startup, a graduate of the prestigious US accelerator Y-Combinator, was co-founded by Calcutta-born Vaibhav Dubey and Marcello De Bernardi.
Plexe’s core offering revolves around building sophisticated artificial intelligence agents capable of developing predictive machine learning models tailored for various organizations and enterprises. Co-founders Dubey and De Bernardi bring a wealth of experience, having previously collaborated at Expedia.
Vaibhav Dubey articulated the company’s unique approach, stating, “Simply put, we are using AI to build AI. Instead of using AI to build websites and software, we are using it to build small models that essentially work as a machine learning engineering team, that are task-specific and trained on the company’s own data.” He further elaborated on practical applications: “For example, a retail company or an e-commerce company could have data on consumers, their past purchases, and current products that could be relevant to them. Now, instead of relying on an individual to analyse Microsoft Excel and to figure out which customer to reach out to through marketing campaigns, it’s entirely AI-driven. We are building tools for enterprises that look at customers’ previous purchases and figure out what products they may like to purchase now, which are the high-value customers and how customer services can be improved.”
The efficacy of Plexe’s models has already been demonstrated, with Calcutta-based retail jeweller Senco Gold reporting encouraging results from their pilot programs.
Following this successful seed round, Plexe is poised for rapid growth. The company intends to significantly expand its engineering team and establish a dedicated AI engineering lab. These initiatives are aimed at accelerating product development and onboarding new clients. Dubey highlighted the company’s impressive early traction, noting, “With just my co-founder and me, we were able to reach six-figure annual contracts. So, there is a big scope for growth.”
The strategic roadmap includes reaching the Series A funding milestone within the next two years, with an optimistic outlook for achieving this sooner. Plexe identifies substantial growth opportunities across diverse sectors, including retail, e-commerce, banking and financial services (BFSI), and cybersecurity. The company has already engaged with approximately 15 clients and is actively in discussions with 10 more.
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While currently headquartered in London, Plexe has plans for international expansion, with San Francisco in the US being the next target, and a potential future presence in India. Data protection is a paramount concern for Plexe, especially given its work with corporate information. Dubey confirmed the company’s commitment to security, stating, “We are on track to get SOC 2 certification in the next one and a half months.”
