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Mukesh Bansal’s latest venture Nurix AI bags $27.5M from General Catalyst, Accel

Founded earlier this year, Nurix AI specialises in building custom AI agents with proprietary human-like voice and reasoning abilities to fuel productivity and enhance customer experiences. for global enterprises.

Mukesh Bansal’s latest venture Nurix AI bags $27.5M from General Catalyst, Accel

Tuesday September 24, 2024 , 3 min Read

Nurix AI, an agentic AI services company founded by Mukesh Bansal, the co-founder of Myntraand Cultfit, has raised $27.5 million in seed-Series A funding (divided into two tranches) co-led by General Catalystand Accel, with participation from Meraki Labs.

Founded earlier this year, Nurix AI specialises in building custom AI agents with proprietary human-like voice and reasoning abilities to fuel productivity and enhance customer experiences for global enterprises.

“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 on a LinkedIn post. 

Bansal added that the startup's AI research lab is enhancing voice and reasoning capabilities to provide low-latency, high-accuracy, and human-like solutions powered by GenAI, which are crucial for enterprise deployment.

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The funds will be used to expand the startup's technology and scale operations to meet the growing demand for custom AI solutions in Asia and North America, said Nurix in a statement. It will also be used to boost R&D and market presence and build long-term partnerships with AI hardware and product companies, it added.

While GenAI can enhance workflows and customer engagement, its implementation is frequently hindered by difficulties in system integration, data handling, and scalability. Businesses often face hurdles in securing systems, maintaining operational accuracy, and integrating AI into their existing infrastructure. Nurix AI aims to solve these challenges by delivering solutions built for large-scale deployment, ensuring better results and business impact.

“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," he added.

Nurix’s debut product aims to transform the $300-billion BPO industry by developing AI-driven, human-augmented customer experience solutions, which facilitate efficient and engaging conversations between enterprises and their customers. 

By blending AI's capabilities with human oversight, Nurix claims to enable personalised, scalable customer interactions while preserving the empathy and reliability that only humans can offer.

"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," he added.


Edited by Swetha Kannan