Two startups, Nurix AI and Atlys, have raised a combined $47.5 million. These funds will boost AI development and improve visa processing globally.
Nurix AI, founded by Mukesh Bansal of Myntra and Cultfit, has raised $27.5 million. This is one of India's largest seed funding rounds. The funding, co-led by Accel and General Catalyst, will help Nurix create AI agents for enterprise services like sales and customer support.
Nurix AI is part of Bansal's Meraki Labs and has already partnered with financial firms. Their AI agents have improved efficiency by 25-50% and reduced costs. The company has a 20-person team and plans to grow.
Bansal believes AI will change enterprise workflows. "India’s services sector is in a strong position to benefit from AI, just like with Y2K and cloud adoption," he said. Nurix AI also plans to enter the US market through acquisitions.
Atlys, a visa processing platform, raised $20 million in its Series B round. Peak XV Partners and Elevation Capital co-led the round, with DST Global and Headline also participating. This brings Atlys’ total funding to $40 million.
In the past year, Atlys has grown 20x and expanded into markets like the US, UAE, and UK. The platform uses automation to process visas for over 150 destinations, cutting processing times to 55 seconds.
As India's outbound tourism grows, with 30 million travelers in 2023, Atlys is meeting demand for faster visa processing, especially in smaller cities. "Atlys is more than a visa platform. We aim to be a global travel services provider," said CEO Mohak Nahta.
Investors see strong potential for both startups. Subrata Mitra of Accel believes Nurix AI is solving key challenges in AI adoption. Shraeyansh Thakur of Peak XV Partners sees Atlys expanding beyond visas into broader travel services. Both companies are poised to lead in their fields.