Lyzr’s AI agent looks like Sam Altman, and it’s raising $15m

Startups often like to test their products on their employees before rolling them out to users. But Lyzr, a startup based in India and the US, is taking that idea to a whole new level.

The company, which builds AI agents for enterprises, is using its own technology to raise a US$15 million series A round. It already has “soft commitments” from Accenture and BGV to participate in the funding.

Lyzr’s agent Sam / Photo credit: Lyzr

Instead of the usual founder-led emails, pitch calls, and investor decks, Lyzr has created an AI-powered fundraising agent that does most of the talking. It answers questions from potential investors, shares real-time business data, manages applications, and even hosts an AI avatar-led interview with the startup’s founders.

Fun fact: The AI agent is named Sam and looks like OpenAI’s CEO Sam Altman, but with a buzz cut.

Co-founded by Siva Surendira, Anirudh Narayan, and Jithin George in 2023, Lyzr claims to have over 90 paying customers including Accenture, AirAsia, KPMG, and NTT Data. The startup also says it has more than 50 agentic AI use cases deployed across hiring, sales, and marketing.

With US$1.5 million in annual recurring revenue (ARR) in June and a target to reach US$7 million by year-end, Lyzr wants to be “the AWS for AI agents.”

Lyzr’s AI agent for raising funds is not just a flashy experiment. Tech in Asia reviewed the AI interface and found that 30 investors including Accenture and BGV have already applied. Out of this figure, 10 investors have reached the due diligence stage.

The startup hopes to close its latest round by the end of July. It previously raised US$2.5 million in October 2024.

But can agentic AI really replace the human art of convincing investors to believe in your vision?

Fundraising at AI speed

For most founders, putting together a series A round is a slow, manual grind that involves sending cold emails, making pitch calls, preparing data rooms, and doing follow-ups. The process often takes three to six months; it’s even longer amid the tech winter.

Closing a funding round “typically used to take 10 to 15 hours a week over two to three months,” Lyzr’s Narayan tells Tech in Asia. “Now it’s more like 40 hours in total – we’ve cut it down to a tenth,” he says.

The process starts with a 12-minute video call where Agent Sam interviews Lyzr’s Surendira. The AI agent asks all the usual investor questions: revenue, customers, competitive edge, and go-to-market strategy.

The answers are drawn from Lyzr’s internal knowledge base and presented in natural conversation to investors.

Opens doors but can’t seal the deal