Mukesh Bansal’s Nurix AI Raises $27.5 Mn from General Catalyst, Accel and Others

Nurix AI, founded by Mukesh Bansal of Myntra and Cultfit, has raised $27.5 million (approximately INR 230 crore) in seed funding from Accel and General Catalyst.

Meraki Labs, which is owned by Bansal, also participated in the funding round.

According to a business release, this funding will be used to strengthen Nurix AI’s technology base and scale its operations in order to fulfill the growing demand for bespoke AI solutions in Asia and North America.

This involves expanding its R&D skills and building a stronger market presence, with an emphasis on forming long-term collaborations with AI hardware and product firms.

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Nurix AI, founded in 2024, provides enterprise customer interaction services using artificial intelligence solutions such as personalized virtual assistants to increase productivity and AI agents to automate workflow.

“AI is reaching an inflection point, with the potential to dramatically revolutionize how work is done in the industry. At Nurix, we envision a future in which AI agents, guided by human expertise, handle a significant portion of tasks, resulting in unprecedented increases in productivity and quality,” Bansal stated.

Nurix AI was founded in Bansal’s startup incubator Meraki Labs and now employs over 15 people, according to LinkedIn data. Bansal stated, “India has deep AI talent to be at the forefront of this transformation and we are super excited to build India’s leading AI team to drive this charter.”

His significant investments include the digital trading platform Groww, the spacetech startup Skyroot Aerospace, and the clothing label Virgio.

The launch of Nurix AI comes at a time when AI has proven to be the solution to solving every problem in the market across industries.

According to current data, aided by the arrival of AI, Indian seed-stage startup funding received a boost, increasing 23% YoY to $589 million across 229 agreements in H1 2024.

Earlier this year, Lyskraft, an omnichannel fashion firm founded by former Zomato senior executive Mohit Gupta and Bansal, raised $26 million (approximately INR 216 crore) in a seed investment round headed by Peak XV Partners.