Jaswinder Chadha, the founder of New Jersey-based Axtria, had no plans of becoming an entrepreneur. Instead, he wanted to join the army like his father early on. One term into the course, he quit and joined IIT Delhi, following his mother Tarvinder Chadha, the first woman to get a Ph.D. in Mathematics from IIT Delhi in 1968.
His progress has been remarkable. “You don’t choose life sciences or New Jersey; they choose you,” he says, wearing an Axtria t-shirt and laptop bag.
Jaswinder, known as Jassi, considers life sciences “unsexy,” as most software programmers don’t want to work there. “The life sciences industry, historically worldwide but particularly in India, has never attracted the best talent,” adds. I cannot rely just on employing market talent.In fact, there is an issue.”
Axtria developed curriculums with educators and trainers to address this. Axtria Institute (AI) was founded in 2013 to train staff. It employs over 400 trainers and has issued over 50,000 SQL, Python, machine learning, AI, and Power BI certificates.
“When you see the in-classroom training we do, it’s like going to a university to get a degree,” Jassi adds.
Axtria, a pharmaceutical sales consultant, wanted to stand out through software and technology. This is when it switched to a SaaS model in 2013 and debuted Axtria Sales IQ, its flagship product.
It has five flagship products: Sales IQ, which helps pharmaceutical companies track sales rep performance and calculate incentives; Customer IQ, a customer engagement platform that uses AI-ML analytics to improve engagement; and Marketing IQ, which tracks promotional activities and ROI.
“We are aware of every data that exists in this industry; we have the ability to ingest it, normalize it, manage it, and actually provision it for all downstream applications,” says.
In addition, it develops technologies that enable pharmaceutical businesses organize and analyze their data. Axtria’s cloud-based DataMAX platform can assist pharmaceutical businesses harvest data from their operations, store it securely, assess its quality, and analyse it for actionable insights.
Over 12% of the company’s workforce—engineers, data scientists, product managers, and domain experts—is involved in product creation and development.
The corporation claims these goods generate 50% of its income.
Axtria currently sells managed services that include software licenses and dedicated staff from businesses. These staff help clients integrate their procedures onto its cloud platform.
What’s ahead?
Axtria wants to expand its data models and establish a cloud-based platform for data-driven medication development to differentiate itself from its competitors.
He believes vertical integration, where medical corporations have in-house data professionals who need tools to cleanly sort and prepare datasets for scientists to discover new treatments, is the future of drug research.
“We’re in the business of selling picks and shovels to pharmaceutical companies, thinking about actually having digital platforms,” Jassi adds
Axtria is hiring 1000 individuals for its new Pune location, many of whom will concentrate on product-related tasks including developing new use cases and improving existing ones. Another Hyderabad office is being opened.
Bain Capital Opportunities Fund gave Axtria $150 million in 2021. This was its first institutional funding. Jassi says no investors have left.
Conclusion:-
New Jersey-based Axtria helps pharmaceutical businesses track sales and marketing and accelerate drug development. According to Axtria founder Jaswinder Chadha, the life sciences industry is typically unattractive and needs to recruit top people. Axtria works with educators and trainers to design curriculums, which already have over 400 trainers and 50,000 certificates in SQL, Python, machine learning, AI, and Power BI.
Axtria Sales IQ, its main software, enables pharmaceutical businesses track sales rep performance, rewards, and promotions. DataMAX, a cloud-based platform, can gather data from processes, store it securely, assess its quality, and analyse it to provide actionable insights for pharmaceutical businesses. Product innovation and development account for 50% of the company’s revenue, and over 12% of its personnel is involved.
