How Onyx Secured $10 Million in Seed Funding with an Innovative AI Pitch Deck

Onyx's Impressive Funding Journey

Open-source AI agent startup Onyx has made headlines by raising $10 million in a seed funding round, significantly exceeding their initial target of $3 million. This funding round was co-led by Khosla Ventures and First Round Capital, with notable participation from Y Combinator, angel investors like Gokul Rajaram and Arash Ferdowsi, and Amit Agarwal of ICONIQ Capital.

Founded in 2023 and based in San Francisco, Onyx is revolutionizing workplace efficiency with its AI assistant that queries company documents and tools. This assistant integrates seamlessly with platforms like Google Drive, Slack, Salesforce, and GitHub. Instead of searching through endless messages, users can simply ask Onyx, which uses the relevant company documents to provide answers.

Unique Features of Onyx

Onyx stands out by offering:

• Agent-based search capabilities, enabling deep research across internal documents.
• The ability to conduct detailed analyses on company data, offering recommendations for improving efficiency.
• Techniques to reduce hallucination rates in AI responses, ensuring accuracy and relevance.
• An open-source model allowing enterprises to customize their AI agents and leverage a supportive developer community.

Competitive Edge

According to co-founder Yuhong Sun, Onyx is the first to implement agent-based search in this way, providing a competitive edge over rivals like Glean, which operates on a closed-source model. The startup’s innovative approach to AI agents is already shaking up the enterprise landscape, with other notable players like Decagon and HeyGen also making waves in the industry.

Discover the nine-slide pitch deck that helped Onyx secure its funding!