TLDR: Bengaluru-based Metaforms has successfully raised $9 million in Series A funding to bolster its AI infrastructure platform and accelerate its adoption within the global market research industry. The funding will primarily support the expansion of its Indian workforce and investment in AI research, aiming to help market research agencies scale operations and handle more projects efficiently.
Metaforms, a Bengaluru-founded company, has announced a significant milestone with the closure of a $9 million Series A funding round. This investment is earmarked to enhance its AI infrastructure platform, designed to empower global market research agencies. The round was spearheaded by Peak XV Partners (formerly Sequoia India), with additional contributions from Nexus Venture Partners and Together Fund.
The market research sector is currently experiencing a boom, yet many agencies face operational bottlenecks due to outdated systems, leading them to decline potential projects. Metaforms was established in 2022 by Akshat Tyagi and Arjun S to address this critical challenge, enabling research teams to expand their capabilities without succumbing to burnout. The company’s AI agents are built to help top market research agencies manage a tenfold increase in projects, and it has already secured four of the top 20 global players as clients.
The newly acquired capital will be strategically deployed to triple Metaforms’ engineering and AI research teams based in Bengaluru. Furthermore, the company plans to broaden its service offerings to include new workflows such as report generation and voice-based research. Deepening integrations with industry-standard tools like Decipher, SPSS, and Confirmit is also a key objective.
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Shailendra Singh, MD, Peak XV Partners, expressed enthusiasm for the partnership, stating, ‘We’re thrilled to partner with Akshat and Arjun as they reimagine what a market research agency could look like in an AI-first world. Metaforms is scaling rapidly by enabling some of the largest research agencies globally to automate workflows such as survey programming and data processing through their suite of AI agents.’ This funding marks a pivotal step for Metaforms in its mission to revolutionize the $130 billion global market research industry through advanced AI solutions.
