Metaforms, an AI startup catering to market research operations, has secured $9 million in Series A funding to enhance its AI infrastructure platform and speed up adoption in the $130 billion global market research sector.
The funding round was led by Peak XV Partners, with contributions from Nexus Venture Partners and Together Fund.
The company said the funds will mainly support Metaforms’ hiring initiatives in India. It plans to triple its engineering and AI research teams based in Bengaluru, delve into new tasks such as report creation and voice-driven research, and improve integration with platforms like Decipher, SPSS, and Confirmit.
The Bengaluru-based startup is creating AI agents to assist major market research firms globally, overseeing ten times the number of projects.
Founded in 2022 by Akshat Tyagi and Arjun S, Metaforms’ AI agents streamline tasks like survey programming, data processing, and vendor coordination, allowing research agencies to handle increased project loads while upholding quality standards.
“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,” said Shailendra Singh, managing director at Peak XV Partners.
Since its commercial launch six months ago, Metaforms has onboarded four of the world’s top 20 research agencies, including Strat7. The company processes over 1,000 surveys each month and reports a 100% customer expansion rate, with every initial user adopting additional AI agents.
By reducing turnaround times and costs, Metaforms helps agencies assist clients they might otherwise decline, from startups testing ideas to global brands launching multi-country trackers.
“They’re solving a major pain point for the industry,” said Jishnu Bhattacharjee, managing director at Nexus Venture Partners. “The team’s ability to deeply understand customer needs and solve them with generative AI stands out.”
The company supports Fortune 500 clients and mid-sized agencies alike, helping them reduce costs and improve turnaround times. This efficiency enables research firms to take on projects that might otherwise be unviable.
Metaforms said it further aims to enhance its agent capabilities, including voice research, automated report generation, and broader language support, with the goal of processing over 100,000 surveys each year.
