Metaforms Secures $9M to Enhance AI Market Research Automation

Metaforms has raised $9 million in a Series A funding round led by Peak XV Partners, with participation from existing investors Nexus Venture Partners and Together Fund. The funding will be used to enhance its AI-driven platform for automating market research processes.

The Bengaluru-based startup plans to use the capital to triple its engineering and AI research teams in India, focusing on expanding its capabilities in survey programming, data processing, and vendor coordination. Metaforms also aims to introduce new features such as automated report generation and voice-based research.

Founded in 2022 by Akshat Tyagi and Arjun S, Metaforms addresses the bottleneck in the $130 billion global market research industry by automating repetitive tasks, allowing agencies to handle more projects efficiently. Since its commercial launch six months ago, the platform has partnered with four of the world's top twenty research agencies, including Strat7, and processes over 1,000 surveys per month.

The company plans to broaden its suite of AI agents to include voice-enabled research and expanded language capabilities, with a long-term goal of processing over 100,000 surveys annually. Metaforms' approach aims to enhance the efficiency of research agencies without replacing human expertise.