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Metaforms raises $9 mn to transform market research with AI automation
The capital will be used to triple the company's engineering and AI research teams in India and invest further in R&D. Metaforms will also expand into new use cases such as automated report generation and voice-based research.
'Metaforms is scaling rapidly by enabling some of the largest research agencies globally to automate workflows such as survey programming and data processing through their suite of AI agents,' said Shailendra Singh, managing director at Peak XV Partners.
Automating legacy research workflows
Founded in 2022 by Akshat Tyagi and Arjun S, Metaforms is addressing a key bottleneck in the $130 billion global market research industry. Large clients like Unilever, Procter & Gamble, and Tata often require fast, high-volume insights, but research agencies struggle to meet demand due to time-consuming manual processes.
'They're not just automating tasks — they're rebuilding research infrastructure for the modern era,' said Manav Garg, co-founder and managing partner at Together Fund.
Client growth and global traction
Since launching commercially six months ago, Metaforms has signed four of the world's top twenty research agencies — including Strat7 — and is serving Fortune 500 companies. Its platform now processes over 1,000 surveys per month and boasts a 100 per cent customer expansion rate, with every client adding more capabilities after initial adoption.
Metaforms plans to broaden its suite of AI agents to include voice-enabled research, automated report generation, and expanded language capabilities. The long-term goal is to process more than 100,000 surveys per year.
'We're not here to replace the humans in the loop. We're here to give them leverage,' said Akshat Tyagi, co-founder and CEO of Metaforms.
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Time of India
13 minutes ago
- Time of India
Electronics makers enter standby mode
Academy Empower your mind, elevate your skills Several electronics makers are reconsidering local expansion and scouting alternative overseas markets as the latest US tariffs negate India's earlier pricing edge over China, although key items – such as smartphones, tablets and laptops – remain exempted from the 50% levies announced so Industries, which makes lithium-ion cells for power banks in India, had inked a definitive agreement in January with US-based Anker to supply cells for power banks to be sold in the US. Munoth had earmarked a fourth of its capacity to supply 500,000-1 million cells a month to the US.'Currently, lithium cells are exempted from tariffs, but if Donald Trump puts tariffs on them, our US business may very well move out to other companies,' Jaswant Munoth, vice chairman, Munoth Industries, told said the US business offered a higher margin, almost double that at home, besides higher quality controls.'Losing the US would be a big loss for our financial projections, even if capacity remains utilised for domestic supply. Future revenue will surely come under question,' he US administration has levied a total of 50% (25%+25%) tariffs on imports from be sure, smartphones, laptops, tablets, servers, certain telecom equipment, integrated circuits, and flat panel display modules are among 17-18 HS codes exempted from the current tariffs. Industry estimates suggest exports of these items could be worth about $50 all other electronics products, including electric inverters, battery chargers, parts of transformers, etc., are among the 14 HS codes facing 50% leading local contract manufacturer Dixon Technologies , which had earlier said it expects a surge in mobile phone exports to the US by FY27 for its customer Motorola, is now in a wait-and-watch mode, a person familiar with the developments told ET.'Currently, there is nothing Dixon can do, honestly, but to wait,' said the person cited above. 'Nobody has an answer to this problem and companies cannot approach the government for help unless the tariff situation is definitively defined.'The person added, however, that once the US government announces its tariffs on mobile phones and other semiconductor-based products — likely by the third week of August — they will go to the government for at the Motherson group, which recently entered Apple's supply chain via a joint-venture with Hong-Kong based BIEL Crystal Manufactory, heaved a sigh of relief after they learnt that the additional $100 billion investment by Apple's partners in the US would not take away Motherson's orders.'Apple's supplier Corning will be making the cover glasses for iPhones and Apple Watches in the US going forward. We do the machining on the glass to fit the dimensions of the product. That part of manufacturing is not affected,' an executive aware of the developments told contract manufacturers, such as Amber Enterprises , said they are holding back on exports for now, and may target other regions in future.'The tariff action that is happening has obviously changed the outlook for the industry. Companies with significant export aspirations would be worried at this point due to the current geopolitical situations and tariffs,' said Jasbir Singh, chairperson, Amber said manufacturing would be needed in India with or without tariff arbitrage due to the massive domestic consumption.'The primary appeal for large multinational companies to come to India is its huge consumption potential, which is expected to continue for the next 15-20 years,' Singh said. 'Exports will be a bonus on top of the domestic market.'But industry associations, which represent the top manufacturer and electronics brands in India, remain concerned.'About 80% of our electronics export to the US is mobile phones-related, primarily fueled by Apple. They may not have to face the tariff impact after setting up manufacturing in the US,' said Ashok Chandak, president, India Electronics and Semiconductor Association (IESA). 'But other electronic products, such as medical electronics, telecom equipment, and industrial products would get significantly impacted by the duty. Optic fiber cables are also expected to attract tariffs.'Chandak said a key strategy among electronics companies involves looking for alternative markets and recalibrating export plans beyond the US. This could include Asia, Europe, and even Russia.'The overall picture is not going to be positive even after the semiconductor tariffs are announced. It will be a troublesome scenario for our sector,' he India Cellular and Electronics Association (ICEA) has projected electronics exports to touch $46-50 billion by the end of the current fiscal, from $12.4 billion in the June quarter.'The export projections do not take into account the impending sector-specific tariffs on semiconductor goods imports into the US. That said, India is unlikely to be specifically impacted with the semiconductor tariffs because imports from every other country will face the same tariffs,' said Pankaj Mohindroo, chairman, ICEA.
Mint
13 minutes ago
- Mint
AU Small Finance Bank has to fulfil one precondition to become universal lender
Mumbai: Having received the Reserve Bank of India's (RBI) in-principle approval to transition to a universal bank,AU Small Finance Bank Ltd's founder and managing director Sanjay Agarwal said the lender's next focus will be creating a holding company and rebranding. 'My shareholding has to be shifted to the NoFHC structure, where we need to figure out the process and the modalities," Agarwal said. 'We just got it (the approval) last night, so it takes some time, but it should not be so complex in my opinion. Also, we need to change our name from AU Small Finance Bank Limited to AU Bank Limited." A non-operating financial holding company (NoFHC), a precondition for becoming a full-service bank, is a regulatory requirement that ensures lenders are managed independently without conflict of interests. RBI has given AU Small Finance Bank 18 months to set up the holding company. 'The universal tag, we'll only get when we do all these things. It will not be universal from tomorrow. What we need to do and how it will be done, it will be discussed with the regulators," he told Mint on the sidelines of an event to announce the RBI approval. While this will have tax implications, there is a provision allowing a dispensation for such regulator-mandated company structures, Agarwal said, adding that the bank will discuss with RBI to figure out the transition, as a universal bank licence has not been granted in over a decade. 'We need to rewind that whole process and see how it can be done," he said. 'But on the face of it, it is a more pragmatic and progressive structure where they safeguard the bank's interest as well as the promoter's interest." Agarwal said he has no plans to venture into other areas of business until he heads the bank, but could consider other financial services after retirement. 'Till I remain a CEO of a bank, there is no other plan. I want to completely focus on this franchise. Of course, post my retirement (I might look at it). The bank can do a lot many things, but at my personal level, I will only do once I get free from the bank," he said. Agarwal has headed the Jaipur-based small finance bank for eight years since it started its journey in 2017, transitioning from the original company Au Financiers established in 1996. RBI has capped the tenure of private sector bank heads at a maximum of 15 years. Agarwal said while he will 'make his case" with the RBI for a full 15-year tenure, he is unlikely to get it. 'I will apply for it that way, that you should give me my 15 years from the date of universal (bank licence). I will push my case," Agarwal quipped at the conference. 'But if you ask me, in spirit I am already in the eighth year as MD and my tenure of 15 years should complete by 2032 on the universal bank platform. I don't expect that RBI will be giving me another 15 years." Perception change The biggest advantage Agarwal sees coming from the universal bank tag is the change in customer perception as most people still do not completelytrust a 'small finance bank' or understand how it works differently than a universal bank. 'SFB, as such, is a brilliant model because they allowed people like us to transit from NBFC (non-banking financial company) to SFB. But I think in the longer run, it is difficult to explain to the public at large what 'small finance' means and whether you are allowed to take deposits and you are a normal bank or whether it is a safe bank," he said. Deposit mobilization at lower or competitive rates has been the biggest challenge for small finance banks, given that their rates are around 100 basis points higher than universal peers. 'If you can establish that you are more secure, people can also trust you more, and you can build a brand and retail deposits at lower cost, then your sustainability is cemented. We need to work on those parameters now," he said. Lower cost of funds Agarwal said the bank aims to bring the cost of funds below the prevailing repo rate in the next five years. Cost of funds for the lender decreased to 7.08% in first quarter of FY26 from 7.14% in the previous quarter. Cognizant of the fact that the bank has to grow its unsecured loan book, Agarwal said the focus will be more on segments such as personal loans and credit cards 'in a more measured manner", given some asset quality stress seen in these segments over the past year. 'We have to increase our unsecured book portfolio, but the cap (on share of unsecured loans) we have maintained as of now is around 15% and right now we are around 8%," he said. Unsecured loans typically attract higher rates of interest owing to the lack of collateral offered by the borrower and the higher risk for the lender. AU, despite operating largely in secured loan segments so far, has a relatively higher yieldon advances–what the bank effectively earns on loans–compared with peers, due to the customer segments it operates in. But this will normalize to an extent as the portfolio grows, Agarwal said. Yield on gross advances declined by 27 basis points to 14.1% in Q1 FY26 from 14.4% in the prior three months. 'My cost of money will go down, my yield will go down. That's why my growth will happen. Over the period of time, I believe that our NIM (net interest margin) should be well protected because of this whole balancing around cost of money and the yield," he said, adding that in the longer run, the aim will be to maintain return on assets of around 2%. NIM for the last reporting quarter was at 5.4% compared with 6.0% a year earlier. Asked if he is feeling the pressure of competing with larger banks after becoming a universal lender, Agarwal said in the conference that the business model of pricing deposits at higher rates and lending at higher rates puts it against NBFCs more than banks. 'I think honestly, for them we are threatening," he said, adding that given the choice, AU would want to use the universal bank license to make the loan pricing more competitive and keep operating in these markets, which give a higher yield and allow secured lending. 'Our competition is more with NBFCs than a bank…so ideally I want to be in this market till this (model) allows me."
Mint
42 minutes ago
- Mint
Law firms bill clients by the hour. AI is beginning to reshape that model
For years, law firms have billed their services by the hour. Artificial intelligence is reshaping this model as the technology has shrunk the time taken for routine legal tasks. That is starting to change how much clients pay. Artificial intelligence (AI) has reduced the time for research and documentation by 20-30%, and even more in big cases, according to law firms. Even clients have started demanding clarity on the use of AI-powered tools. 'Consider an arbitrator or a lawyer with 10,000 pages in a case, needing a chronology of events. Previously, this might have consumed a month. With Jurisphere (an AI tool), it takes under ten minutes," said Varun Khandelwal, founder of the Greater Noida-based platform offering AI services to law firms. 'With generative AI, the fundamental impact extends to 40–60% of daily legal workflows, and this figure will rise as AI capabilities deepen," Khandelwal told Mint. 'We have seen adoption skyrocket, both among the largest law firms in India and at the Supreme Court level." Jurisphere's clients include MZM Legal, Burgeon Law, Wadia Ghandy and IndusLaw. Such tools use generative AI, which can create text or images based on patterns and data fed to it during training. AI is primarily used in law firms for legal research, document review, organizing and summarizing large volumes of documents, tabulation, compliance reviews, and drafting standard contracts or letters. It automates manual and time-consuming tasks. However, complex legal analysis, negotiations, and final legal judgments still require extensive human oversight and expertise. The larger law firms are prepping for 'hybrid billing", a mix of fixed or flat fees for AI-driven work regardless of the time spent and hourly billing for more complex legal advice. 'The introduction of AI-powered legal research tools has not yet changed the way the firm bills clients. But we can clearly see we're headed in that direction," said Suchorita Mookerjee, chief technology officer at MZM Legal. This Mumbai- and Delhi-based law firm, which has expertise in white collar crime cases, saw a 25% drop in research efforts, though it had to increase quality checks. According to a Mumbai-based senior partner at one of the top three law firms, clients have started asking them how much of the work is done by AI. 'We have to disclose the quality and the quantity of work done by our in-house AI tool," said the partner who did not wish to be named. 'The billing is getting decided only after that. In case a law firm chooses not to come forth, there is always a risk that the client may find out from its own checks and balances." Open to using AI Smaller law firms, especially those that work on a fixed fee, were among the first to try out new AI tools. 'We have not reached a stage where cost-efficiency through AI can be passed on to clients," said a partner at a Mumbai-based boutique firm. 'Small-to-medium-sized law firms bleed on fixed fee mandates, and the legal AI research tool can operate to save the leakage by minimizing it." Two tools came close to their needs: LegitQuest for deep corporate research, and Jurisphere for more basic, chat-based work. 'These tools are being increasingly used in diligence and other tasks where workflows can be engineered and firms can issue SOPs for the same," said the partner. 'But today, most firms are still experimenting and focused on internal efficiency, not reworking bills to clients." Legal consulting firm Lawfinity Solutions found that law firms and their clients are now open to using AI tools. 'Across 50+ firms that we consult, most have not fundamentally changed their billing models yet, but there is significant pressure building," said Prachi Shrivastava, founder of Lawfinity Solutions. 'The progressive firms are beginning to experiment with value-based pricing for research-heavy matters." Of the 67 lawyers interviewed by Lawfinity, about 60% still use traditional hourly billing, but 40% are experimenting with flat fee or milestone-based models. 'Lawyers working with fintech, healthtech, and SaaS clients are more likely to offer fixed fees for routine legal research, largely because these tech-savvy clients expect predictable pricing structures similar to what they see in software," Shrivastava said. Some law firms are using the time saved with AI to offer more in-depth analysis to their clients. That may keep the billing rates unchanged for some time. 'AI is not replacing the lawyer; it is making the lawyer sharper and faster. We still rely on our legal judgment, but AI helps us get to the relevant information quicker," said Rohit Jain, managing partner at Singhania & Co. 'There is definitely a 20–30% dip in time for things like case law research or jurisdictional comparisons". Legora, a Stockholm-based collaborative AI that helps lawyers review, research and draft faster, recently partnered with Indian law firm Cyril Amarchand Mangaldas. 'After an extensive pilot period following CAM's vision to become an AI-first organization, Legora was rolled out firmwide," a spokesperson at Legora told Mint. 'The pilot captured real-life use cases and measured ways it saved time and improved accuracy, while addressing existing challenges." Cyril Amarchand Mangaldas did not respond to Mint's queries. Cautious adoption Some law firms are still evaluating AI. 'Bespoke AI tools for drafting complex transactional work are still maturing, and AI 'hallucinations' mean cross-checking is necessary," noted Satish Kishanchandani, managing partner, Pioneer Legal. A bespoke AI tool is a tailormade, customized application that helps solve unique challenges more effectively than generic solutions. AI hallucination occurs when it generates misleading or incorrect resuts. 'It is still too early to clearly quantify the tangible benefits and efficiencies derived from AI," cautioned Haigreve Khaitan, senior partner at Khaitan & Co. 'Our billing models are aligned with industry standards, and we remain flexible to adapt to our clients' specific requirements and objectives." Adil Ladha, partner at Saraf & Partners, agrees that generative AI may lead to greater efficiencies, but its impact on billing models may not always be direct and proportional in the Indian market. Venkatesh Raman Prasad, partner at JSA Advocates & Solicitors, however, emphasized that human insight remains essential. "While AI tools can reduce the time spent on routine, document-heavy tasks, the reduction in client bills depends on permissible use under engagement letters and the complexity of the matter," Prasad said. 'AI's efficiencies may be shared as quicker turnarounds or improved quality, not always through lower fees." Still, Shrivastava of Lawfinity Solutions expects AI to shake up billing models. 'Firms that properly train teams report 30–40% time savings," she said. 'But AI is forcing a more pertinent question: if research that used to take four hours now takes one, what exactly are clients paying for?"
