How is this New Jersey-based Startup Using Tech to Transform Pharmaceutical Sales and Marketing Operations?

In the life sciences and pharmaceuticals industry, attracting top-tier talent and driving innovation in drug development present significant challenges. The perception of the sector as an unappealing career path for software engineers and tech professionals exacerbates the talent acquisition problem.

Historically, the industry has struggled globally, and particularly in India, to attract the brightest minds. This has resulted in a talent gap that stifles innovation and growth. Companies face the daunting task of sourcing talent from a limited pool and fostering the necessary skills and expertise in-house to advance their ambitious projects.

Compounding the issue is the need to transition from traditional consultancy models to scalable, technology-driven solutions that meet the evolving demands of pharmaceutical companies.

The industry’s shift towards data-driven drug development adds another layer of complexity. As companies move towards vertical integration, the demand for sophisticated data analysis tools and platforms that manage, normalize, and provision data for downstream applications is increasing.

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

Developing such complex solutions demands a blend of domain expertise, product innovation, and technological prowess, underscoring the critical need for skilled professionals. As companies plan to expand their 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 in which Axtria operates, aiming to address these critical issues with innovative solutions.

Who Are the Founders of Axtria?

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

Jaswinder Chadha, 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 a Ph.D. candidate (ABD) in Industrial Engineering & Operations Research. Jaswinder founded Axtria in 2009.

Before establishing Axtria, Jaswinder and Navdeep founded MARKETRX INC in 2000, where Jaswinder served as president and CEO. In 2007, MARKETRX INC was acquired by Cognizant Technology Solutions, and Jaswinder subsequently joined Cognizant as the Head of Analytics Practice.

Jaswinder has also engaged in various 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. Additionally, he has served as 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. Since 2009, Navdeep has co-founded Axtria alongside Jaswinder.

How Was Axtria Founded?

Axtria’s founding is a story of vision and transformation, spearheaded by Jaswinder Chadha. Inspired by his mother’s pioneering academic achievements, Chadha shifted his focus from a potential military career to the dynamic fields of technology and life sciences.

Chadha recognized the life sciences sector’s struggle to attract top talent, particularly in India. Determined to alter this perception, he set out to make the industry more appealing to software engineers and data scientists. This mission was the catalyst for the creation of Axtria, a company designed to leverage technology to transform the life sciences industry.

Positioned at the nexus of technology and life sciences, Axtria utilizes advanced software and technologies such as SQL, Python, machine learning, and artificial intelligence. These tools are crucial in developing Axtria’s suite of products, enabling pharmaceutical companies to harness data for insightful decision-making and enhanced operational efficiency. Axtria’s dedication to innovation is showcased through its development and implementation of cutting-edge solutions tailored to the unique demands of the life sciences sector.

Products Offered by Axtria

Axtria offers a suite of flagship products designed to drive business excellence: Axtria SalesIQ, CustomerIQ, and MarketingIQ. These solutions are tailored to optimize sales performance, enhance customer engagement, and assess marketing strategies.

Furthermore, Axtria’s DataMAX platform provides pharmaceutical companies with a comprehensive data management solution, ensuring secure storage, quality analysis, and actionable insights. Backed by Axtria’s technological expertise, these products highlight the company’s pivotal role in transforming the pharmaceutical industry.

Investors and Funding

According to CrunchBase, Axtria has secured over $206 million in funding from prominent 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 from Bain Capital Tech Opportunities at a pre-money valuation of $750 million.

Axtria is dedicated to creating cloud-based products for drug development. The company also plans to hire 1,000 new employees in Pune and expand its operations with a new office in Hyderabad.