Hyderabad September 25, 2023: DMX, a London-based SaaS company having its development center in Hyderabad has secured Rs. 2 crore seed funding, letting it enter into an Rs. 200 crore valuation company.
DMX Automation Limited is founded and led by Srahanj Golla. On Monday, the Software company announced that it had successfully completed its seed funding round and secured Rs. 2 crore investment for the exchange of 1 percent equity.
DMX (Documatrix) is India's First Generative AI Workflow Automation Software company. According to the company authorities, the funding has been provided by DA Fleet Management Services, an Australian-based company led by Elloise Gee, who is the Primary investor.
Mr. Srahanj Golla, CEO and Founder of DMX, expressed excitement about the company's future: "We are thrilled about DMX's potential to transform the landscape of workflows through intelligent automation and effective management. The support from DA Fleet Management Services, with Elloise Gee as a key investor, will enable us to reach new heights and offer our innovative solutions to a broader audience."
Adding further, the CEO highlighted the Global scenario of Automated systems and AI markets and revealed that the global automation systems market, valued at approximately $22.89 billion in 2021, is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.5% from 2021 to 2026, quoting the statistics from "Markets and Markets."
The global generative AI market size was valued at USD 29.00 billion in 2022. The market is projected to grow from USD 43.87 billion in 2023 to USD 667.96 billion by 2030, exhibiting a CAGR of 47.5% during the forecast period according to Fortune Business Insights, observed Golla.
The CEO further says that this dynamic market presents substantial opportunities for DMX's growth and expansion. Talking about the DMX Business Revenue Model, Mr. Srahanj Golla says that DMX's revenue model is diverse, relying primarily on a tiered subscription system. Additional income is generated through premium features, enterprise customization, API integrations, and non-intrusive advertisements for freemium users. This diversified approach ensures both financial stability and sustainable growth.