AnotherAcquisition Acquires Indian AI Email Platform Nyxion.ai

London-based AnotherAcquisition has acquired New Delhi-based AI-powered email solutions provider Nyxion.ai for an undisclosed consideration.

AnotherAcquisition, a wholly-owned subsidiary of London-based venture capital (VC) firm Trapping Holdings, has acquired multiple companies in the email marketing segment and has had three exits in the space so far.

In a statement, AnotherAcquisition said the two companies will collaborate to gain a leadership position in the smart email solutions market.

Founded in 2021 by Siddhant Mohan, Nyxion.ai enables users to send marketing, transactional and blank email messages, focusing on user behaviour for optimising results, and leveraging AI to predict user sentiments. The SaaS platform offers automated email sending to unlimited contacts and several free email templates. The startup’s website reflects more than 11,320 marketers using its platform, including the likes of DocuSign, Dropbox, Brex, Bamboo HR and Pipedrive.

Mohan, a former IIT Mandi alumnus, will continue his involvement with Nyxion.ai as part of the transaction in an advisor capacity.

Mohan told Inc42 he will work to ensure that Nyxion.ai fulfils its vision to understand and anticipate user sentiments through AI while expanding its footprint in Asia.

“Nyxion.ai was born out of a vision to democratise AI-powered email marketing tools, focusing intently on user behaviour for optimising results, and uniquely leveraging AI to predict user sentiments. Our partnership with Another Acquisition not only accelerates our mission but also empowers us to build a more intuitive and sentiment-aware platform, driving superior marketing outcomes,” Mohan added.

Commenting on the acquisition, Alexander Gabriel, cofounder of AnotherAcquisition, said, “The strategic acquisition of Nyxion.ai by AnotherAcquisition marks an exciting milestone in our journey. Nyxion.ai is driven by the mission of democratising AI-powered, high-quality email marketing tools. This technology allows small businesses to compete with corporations that have large marketing and design teams.”

Nyxion.ai said the acquisition by AnotherAcquisition will help it tap into a wealth of knowledge, market insights, strategic guidance and business acumen.

The acquisition comes as the Indian startup ecosystem has seen a huge surge in mergers and acquisitions (M&As) over the past few years. According to Inc42’s ‘Indian Tech Startup Funding Report, H1 2023’, there were 67 M&A deals as against 72 in H1 2021. However, M&A activity slowed down significantly compared to 300 such deals in the entire 2022.

Update | August 11, 2023, 1:20 PM

An earlier version of the report erroneously cited Nyxion’s founding date as 2016. The same has been rectified to 2021.