OrbitShift Nets $7 Mn To Help Businesses Streamline Sales

SUMMARY

As per ET’s report, the startup will use the fresh capital to scale up its customer base in the US as well as expand its technology and product team to diversify its product portfolio

Founded in 2022 by Mishra and Swapnil Saykar, OrbitShift is a software-as-a-service (SaaS) startup that helps businesses improve their sales processes

The startup claims to cut down the time companies spend on research and sales planning by 40-50% and increase sales productivity by 20-30%

AI-native sales operating system OrbitShift has secured $7 Mn (around INR 54.4 Cr) in its seed funding round led by Peak XV Partners, along with participation from existing investor Stellaris Venture Partners.

The startup will use the fresh capital to scale up its customer base in the US as well as expand its technology and product team to diversify its product portfolio.

Founded in 2022 by Mishra and Swapnil Saykar, OrbitShift is a software-as-a-service (SaaS) startup that helps businesses improve their sales processes.

It provides a variety of tools and insights to help sales teams in different ways like by offering account insights, actionable recommendations, RFP/RFI response generation, account planning, and targeted pitch content generation, thereby driving co-ordinated GTM motion.

“We are addressing the challenges faced by consultative enterprise sales & marketing teams dealing with a glut of data, research reports, and disparate tools that don’t suit their sales motions. This investment will fuel our mission by expanding our product footprint and geographical reach,” Mishra added.

“We expect AI to transform all business functions. However, some functions, like enterprise sales, require more judgement and are therefore harder to tackle with AI. Enterprise sales involve selling holistic solutions – a mix of products and services – with long sales cycles and multiple stakeholders. This complexity presents an opportunity to build a generational AI-native software business, and we believe OrbitShift is poised to do just that,” said Alok Goyal, Partner at Stellaris Venture Partners

The startup claims to cut down the time companies spend on research and sales planning by 40-50% and increase sales productivity by 20-30%. For this, it speeds up tasks like client outreach, and creating high-quality responses, among others.

Last year, OrbitShift raised pre-seed funding of $1.5 Mn from Stellaris Venture Partners and other angel investors. To date, it has reportedly raised $8.5 Mn.

It globally competes with Cognism, Komiko, and UpLead among others in the sales productivity software segment.

Peak XV, which led this round, also counts unicorns like CRED, Meesho, Groww, Info Edge, Mamaearth, Ixigo, and Unacademy, among other prominent startups in its portfolio. It has a portfolio of over 400 companies across 13 separate funds.

Among the portfolio of Stellaris Venture Partners are companies like Mamaearth, Whatfix, Propelld, Ayu Health, Kiwi, Turno, Rigi, and others.

This funding comes against the backdrop of the wider enterprisetech sector witnessing waning interest from the investors as the number of deals plummeted over 46% to 157 during 2023 from 292 in 2022.