This New Jersey-based startup is leveraging tech to help pharmaceutical companies keep track of sales and marketing operations

In the realm of life sciences and pharmaceuticals, attracting top-tier talent and innovating in drug development are formidable challenges that the industry faces. The perception of the life sciences sector as an unattractive career path for software engineers and tech professionals exacerbates the talent acquisition problem. 

This issue is deeply rooted in the historical context of the industry, which has struggled worldwide, and particularly in India, to allure the brightest minds. The consequence is a talent gap that hinders innovation and growth within the sector. Companies are confronted with the daunting task of not only sourcing talent from a limited pool but also fostering the necessary skills and expertise in-house to drive forward their ambitious projects. 

The challenge is compounded by the need to transition from traditional consultancy models to more scalable, technology-driven solutions that can meet the evolving demands of pharmaceutical companies.

Moreover, the pharmaceutical industry's shift towards data-driven drug development presents another layer of complexity. As companies move towards vertical integration, the demand for sophisticated data analysis tools and platforms that can manage, normalize, and provision data for downstream applications is on the rise. 

This necessitates a paradigm shift in how data is handled, from extraction and storage to processing for actionable insights. The endeavour to fill this gap with cloud-based products and managed services is ambitious, aiming to equip pharmaceutical companies with the tools necessary for in-house data specialists to arrange and prepare datasets for scientific analysis. 

However, developing such complex solutions requires a blend of domain expertise, product innovation, and technological prowess, further emphasizing the critical need for skilled professionals. As plans to expand its workforce and delve deeper into product innovation, the challenges of talent acquisition, skill development, and technological advancement remain pivotal in shaping the future of drug development and the broader life sciences industry. 

This is the landscape within which Axtria operates, aiming to address these critical issues with innovative solutions.

Who is the founder? 

Jaswinder Chadha and Navdeep Chadha are the co-founders of Axtria. 

Jaswinder, who also serves as the CEO, holds a B.Tech in Mechanical Engineering from IIT Delhi and a Master of Science (MS) in Industrial Engineering. He is also a Ph.D. candidate (ABD) in Industrial Engineering & Operations Research. Jaswinder founded Axtria in 2009.

Before Axtria, Jaswinder and Navdeep established MARKETRX INC in 2000, where Jaswinder was the president and CEO. In 2007, MARKETRX INC was acquired by Cognizant Technology Solutions, leading Jaswinder to join Cognizant as the Head of Analytics Practice.

Jaswinder has engaged in several ventures outside of Axtria. He has been a board member of SpectraMedix since 2011 and took on roles as a member of the board of trustees and chair of the governance committee in 2012. He has been a board member of the Panjab Digital Library since 2012, joined the board of Ocular Therapeutix, INC in 2013, and served on the Advisory Council of the Federal Reserve Bank of New York in 2018.

Navdeep Chadha holds a Bachelor's degree in Electronics Engineering and a Master's degree in Computer Science. He worked as a managing consultant at Noblestar in 1996 and became the CTO of MARKETRX INC in 2000. Navdeep has been a co-founder of Axtria alongside Jaswinder since 2009.

How Axtria was founded?

Axtria's inception is a tale of vision and transformation led by Jaswinder Chadha, who, inspired by his mother's pioneering academic achievements, embarked on a journey that veered away from his initial military aspirations to the realms of technology and life sciences.

Recognizing the life sciences sector's lack of appeal to top talent, especially in India, Chadha was determined to change the narrative and make the industry more attractive to software engineers and data scientists. This mission laid the groundwork for Axtria, a company that would leverage technology to revolutionize the life sciences industry.

Axtria stands at the intersection of technology and life sciences, employing advanced software and technologies such as SQL, Python, machine learning, and artificial intelligence. These tools are pivotal in developing Axtria's suite of products, enabling pharmaceutical companies to harness data for insightful decision-making and operational efficiency. The company's commitment to innovation is evident in its development and application of cutting-edge solutions tailored to the unique needs of the life sciences sector.

Products offered by Axtria

Axtria has introduced a range of flagship products, including Axtria SalesIQ, CustomerIQ, and MarketingIQ, designed to optimize sales performance, enhance customer engagement, and evaluate marketing strategies.

Additionally, Axtria's DataMAX platform offers pharmaceutical companies a robust solution for data management, ensuring secure storage, quality examination, and actionable insights. These products, underpinned by Axtria's technological prowess, underscore the company's role as a catalyst for transformation in the pharmaceutical industry.

Investors and funding

According to CrunchBase, Axtria has raised over $206 million in funding from investors, including Bain Capital Tech Opportunities, Sparta Group, Helion Venture Partners, Amarpreet Sawhney, Farhad Khosravi, and Richard Braddock. 

In May 2021, Axtria raised $150 million in funding from Bain Capital Tech Opportunities at a pre-money valuation of $750 million. 

The startup is focused on developing cloud-based products for drug development. It also plans to hire 1,000 new employees in Pune and expand its footprint with a new office in Hyderabad.