This Pitch Deck Landed AI Agent Startup Onyx a $10 Million Seed Spherical

• AI startup Onyx simply raised $10 million from Khosla Ventures and First Spherical Capital.
• The startup provides an open-source AI agent to go looking by way of all of an organization’s instruments and paperwork.
• Here is an unique take a look at the pitch deck Onyx used to boost its oversubscribed seed spherical.

From PTO requests, expense studies, and reporting traces to assembly notes — there are a ton of assets workers must do their jobs, and it may be troublesome to maintain observe of all of them.

That is why one startup created a “ChatGPT” to question firm paperwork and instruments, and it simply raised an oversubscribed seed spherical to convey its open-source tech to extra workplaces.

The startup, Onyx, got down to elevate $3 million and as a substitute landed a $10 million seed funding spherical co-led by Khosla Ventures and First Spherical Capital. Additionally taking part are Y Combinator (Onyx was a member of the accelerator’s winter 2024 batch) and angel traders Gokul Rajaram, a Coinbase and Pinterest board member, Dropbox cofounder Arash Ferdowsi, and Amit Agarwal, a accomplice at ICONIQ Capital and Datadog board member.

Based in 2023, San Francisco-based Onyx provides an AI assistant that connects to all of an organization’s instruments and paperwork — suppose Google Drive, Slack, Salesforce, GitHub, and extra. As an alternative of sifting by way of outdated messages to discover a piece of knowledge, customers can question Onyx, and its AI agent will use firm paperwork which might be obtainable to that particular person to search out a solution.

Onyx also can full extra detailed analyses. If a person had been to ask why one gross sales course of was faster and extra profitable than one other, Onyx might search by way of firm knowledge for that account, examine it to others, and supply suggestions for being extra environment friendly sooner or later.

“We’re the primary workforce to construct agent-based search, our personal model of deep analysis, throughout inner paperwork,” Yuhong Solar, Onyx’s cofounder, instructed BI. None of Onyx’s opponents have accomplished this but, he stated, which provides his startup an edge and means they’ll present the highest quality search and essentially the most complete solutions.

Solar added that Onyx is utilizing strategies to cut back hallucination charges in comparison with its opponents and that the workforce is constructing LLM-based information graphs and implementing RAG strategies, which make AI responses extra correct by retrieving knowledge from particular and related knowledge sources.

Onyx can also be open-source, so enterprises can select their most popular LLM supplier, customise what their AI brokers can do, and get assist from a big developer group. This differentiates it from opponents like Glean, a closed-source startup providing an identical, AI-powered office search perform.

Extra broadly, AI brokers are shaking up the enterprise world and automating numerous office capabilities. Notable startups within the house embrace Decagon, which is deploying AI brokers for buyer companies and has raised $100 million; 7ai, which is constructing a fleet of AI brokers to stop cybersecurity assaults and has raised $36 million; and HeyGen, which makes use of AI brokers to offer reside buyer help through video and has raised $60 million.

Here is an unique take a look at the nine-slide pitch deck Onyx used to boost its $10 million seed spherical.