UCL startup Throxy has secured $6.2 million (£4.6m) in investment to scale up its artificial intelligence (AI)-assisted platform that helps businesses in different sectors find new clients.
Throxy was co-founded by UCL alumnus Pablo Jimenez de Parga Ramos (MSc Bioscience Entrepreneurship) alongside Bergen Merey and Arnau Ayerbe Garcia. The company is now based in London and San Francisco.
Throxy's solution combines AI agents with human experts to deliver highly bespoke sales campaigns. It handles all the outreach activities and books in carefully selected meetings with potential clients straight into the calendars of sales executives. It has the potential to transform traditional industries, including manufacturing and logistics, and is already working with major clients, achieving annual sales over $1.5m.
The latest $6.2m seed round is led by Base10 Partners with participation from Y Combinator (YC). Base10 is a San Francisco-based venture capital fund whose portfolio companies include Notion, Figma and Stripe. YC is a world leading business accelerator, which Throxy participated in, and has helped to launch the fortunes of companies like Airbnb, Coinbase and Reddit.
Rexhi Dollau, General Partner at Base10 Partners, commented: "Throxy isn't another AI sales tool. It's an execution layer for growth in industries tech often forgets. We're proud to be partnering with Throxy, a company delivering real outcomes, not just activity."
Throxy's co-founder Pablo spent four years in sales before realising many of the existing systems and processes for finding new clients were effectively 'broken'. Forbes estimates that around 65% of sales teams' time is not spent actually selling, but rather navigating multiple different inefficient and ineffective software tools and chasing dead leads.
With his co-founders, he therefore set about 'rebuilding sales from scratch' with a focus on companies selling into traditional industries like manufacturing, logistics, education, and finance.
For example, Throxy has partnered with Imnoo, a leading software provider for the manufacturing industry. Throxy is managing an outreach campaign, generating three to five qualified meetings per week consistently.
Niklas Gerlach, COO at Imnoo, commented: "The manufacturing industry is one of the toughest markets to crack, it's complex and relationship driven. With Throxy as our partner, we're starting real conversations with prospects we know will be interested, so our team can focus on closing deals."
