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 affords 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 lift its oversubscribed seed spherical.

From PTO requests, expense studies, and reporting strains to assembly notes — there are a ton of assets workers have to do their jobs, and it may be troublesome to maintain monitor 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 an alternative landed a $10 million seed funding spherical co-led by Khosla Ventures and First Spherical Capital. Additionally collaborating 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 associate at ICONIQ Capital and Datadog board member.

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

Onyx may also full extra detailed analyses. If a consumer have been to ask why one gross sales course of was faster and extra profitable than one other, Onyx may search by way of firm information for that account, evaluate it to others, and supply suggestions for being extra environment friendly sooner or later.

“We’re the primary crew to construct agent-based search, our personal model of deep analysis, throughout inside paperwork,” Yuhong Solar, Onyx’s cofounder, informed BI. None of Onyx’s rivals have executed this but, he mentioned, which provides his startup an edge and means they’ll present the highest quality search and probably the most complete solutions.

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

Onyx can also be open-source, so enterprises can select their most well-liked LLM supplier, customise what their AI brokers can do, and get assist from a big developer group. This differentiates it from rivals like Glean, a closed-source startup providing the same, AI-powered office search operate.

Extra broadly, AI brokers are shaking up the enterprise world and automating varied office capabilities. Notable startups within the area embody Decagon, which is deploying AI brokers for buyer companies and has raised $100 million; 7ai, which is constructing a fleet of AI brokers to forestall cybersecurity assaults and has raised $36 million; and HeyGen, which makes use of AI brokers to supply dwell buyer assist through video and has raised $60 million.

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