Top 10 Indian AI startups: For many of us, artificial intelligence is synonymous with voice assistants like Alexa or Siri. It’s this futuristic technology that we see in sci-to movies and tv shows, but the reality is AI is actually beginning to shape the world around us in ways that many of us don’t even realize, and this is true everywhere.
But its especially true here in India ,there is a lot of development right now happening specifically in the AI space ,startups are building novel solutions using AI and ML they are solving problems that would have been impossible to solve just a couple of years ago using this new technology and so in this article of backstage with millionaires we are going to talking about the Top 10 Indian AI startups.
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Table of Contents
So here is the list of Top 10 Indian AI startups.
#10 Staqu Technologies
We have Gurugram-based AI-powered audio and video analytics startup Staqu Technologies. Founded by Anurag Saini, Atul Rai, Chetan Rexwal, and Pankaj Kumar Sharma in 2015, Staqu Technologies is using their AI-powered flagship product, JARVIS, which is short for Joint AI Research for Video Instances and Streams, to monitor and identify criminal behavior through CCTV cameras. Once people involved in criminal activities are identified by JARVIS, it reports them to the police in real-time.
In 2020, India recorded 4.2 million cognizable crimes; these are crimes where you can be arrested for committing them. That’s more than 11,000 crimes a day, of which 80 per day were murders, but India only has 1 police officer for every 641 people; their resources are stretched thin, and so an AI-powered service like Staqu can really help to fill in the gaps. The learnings that they’ve acquired serving the police are now being used by startups in the private sector too, as they help companies ensure that their employees are complying with safety and security protocols.
We have a Bengaluru-based agritech startup that’s building AI-powered farming robots, TartanSense. Founded in 2015 by Jaisimha Rao, who is the former Vice President of New York-based Blackrock, TartanSense’s flagship product is their precision crop spraying robot, BrijBot. BrijBot autonomously drives through rows of crops and assesses each individual plant using computer vision to see if they need to be sprayed with pesticides. If BrijBot concludes that the answer is yes, it can spray that one individual plant without affecting any surrounding plants, which is a different approach from what farmers usually do without BrijBot.
Many farmers are forced to blanket spray. They just cover all of their crops in pesticides in order to increase their yield, but of course, pesticides cost money. Doesn’t Brijbot cost money too? The answer, of course, is yes, but Tartensense doesn’t actually sell individual robots. Instead, they rent them out to farmers at an affordable price of ₹1,500 ($20.42) per acre, and these robots can run for eight hours on a single charge with no human intervention. So far, TartanSense’s investors have poured in $7 million (₹51.4 crore) into the startup.
We have Bengaluru-based AI-powered digital onboarding solutions provider Signzy. Founded by Ankit Ratan, Ankur Pandey, and Arpit Ratan in 2015, Signzy enables banks and other financial institutions to quickly and easily onboard new customers with AI-powered video KYC. Now, normally, KYC verification and approval are handled by a human, meaning that the customer onboarding process might take several hours or days, which obviously isn’t ideal. With Signzy, though, information is extracted in real time from the prospective customer’s IDs, and this information is cross-referenced against the customer’s face and government databases.
Signzy’s computer vision also identifies ID forgeries and anomalies, which is something that the human eye often misses. Today, upwards of a hundred major banks, insurance firms, and asset management companies are using Signzy to onboard more than 150,000 users (1.5 lakh users) every month, which is why their investors have been happy to pour $12.6 million (₹92.6 crore) into the startup so far.
#7 Mad Street Den
We have California-based AI-powered experience management startup Mad Street Den Founded by husband-wife duo Anand Chandrasekaran and Ashwini Asokan, along with Costa Colbert, in 2013, Mad Street Den was founded in Chennai, and that’s where all of the R&D took place. Then, when it was actually time to roll out their first product, they shifted their headquarters to the United States in 2016 and launched Vue.ai, which monitors a shoppers’s behavior, what colors or styles they seem to be interested in, and how long they spend looking at a particular item on the e-commerce app or website, and then uses this information to recommend products that the customer might like.
Since 2016, they’ve piled on a bunch of other value-adding features that make Vue.ai an attractive proposition for fashion companies like Diesel, Nodstrom, and Tata Cliq, among others. Then, in June of 2021, Mad Street Den launched blox.ai, which helps companies become AI-native by giving them the tools to create and maintain data and customer experiences and to automate business processes. This new offering has seen a very positive response from customers like Stanza Living, Trell, Cars24, and Tata. So far, Mad Street Den’s investors have poured $21.2 million (₹92.6 crore) into the startup.
#6 Safe Security
We have a California-based startup that began its journey in India, this time in the cybersecurity space, called Safe Security. Founded by Rahul Tyagi, Saket Modi, and Vidit Baxi in 2012, Safe Security began its journey as Lucideus at IIT Bombay with the goal of helping businesses predict and prevent cyberattacks. They shifted their headquarters from India to the United States in 2019 and have built a framework called SAFE. That’s the Security Assessment Framework for Enterprises. This framework, which is completely automated and AI-powered, assigns each person, piece of technology, and policy in the enterprise a score between 0 and 5, with 0 being not safe and 5 being completely safe.
This system allows Safe Security to find out how secure a company is at a micro and macro level, from a single individual to a small team to a department, and then, of course, the entire company, and using this knowledge, they’re able to recommend measures that the company can take to protect themselves, which is exactly what their customers are doing. So far, Safe Security’s investors have poured in $49.2 million (₹362.4 crore) into the startup, and while they haven’t yet disclosed their valuation, Saket Modi has said that they’re a soonicorn.
We have Bengaluru-based conversational AI startup Yellow.ai. Founded by Anik Das, Jaya Kishore Reddy, Raghu Ravinutala, and Rashid Khan in 2016, Yellow.ai, which was previously known as Yellow Messenger, provides chatbots and voicebots as a service to businesses that are trying to automate their customer experience, but instead of providing custom solutions on a case-by-case basis, Yellow.ai instead offers a scalable no-code platform that enables their customers to create their own chatbots.
Using ML, these chatbots are trained and improved using archived conversations, and they continue to get better the more they’re used. Recently, in June of 2021, yellow.ai also started providing voicebots to their customers, and today, more than 700 companies are using these AI-powered solutions to automate their customer experience in more than 100 languages. To date, their investors have poured in $102.2 million (₹752.7 crore) into the startup.
We have Bengaluru-based AI-powered healthtech startup Niramai. Founded by Geetha Manjunath and Nidhi Mathur in 2016, Niramai was founded after Geetha lost her cousin to breast cancer in 2015. This experience opened her eyes to how big of a problem breast cancer, which is completely curable if diagnosed early.
In India, one woman gets diagnosed with breast cancer roughly every 4 minutes, and every 13 minutes, one dies, and the sad thing is that many of these deaths could be prevented by a simple breast examination, but a lot of women don’t like the normal procedure of getting a mammogram done, as it involves the exposure and compression of that part of their body, which is where Niramai comes in.
They’re able to offer women a fully clothed, no-touch, radiation-free thermal screening solution that uses an AI-powered diagnostic engine called Thermalytix to detect breast cancer. This engine is completely automated and requires very little in the way of training to use. Today, more than 70 hospitals and diagnostic centers are using Niramai, and their investors have poured in $6.1 million (₹45 crore) into the startup so far.
We have Mumbai-based Emotix, a startup that’s making AI-powered personal robots for kids Founded by Chintan Raikar, Prashant Iyengar, and Sneh Vaswani in 2014, Emotix’s robots use computer vision and facial recognition to identify and remember a child’s face, understand their mood, interpret and respond to their behavior, and ultimately engage them in educational conversations. These conversations, of course, also require the robot to have sophisticated speech recognition AI, as children tend to be less coherent in their speech than adults.
What’s more, Emotix’s flagship product, the Miko 2, is capable of listening and speaking in English, Hindi, Arabic, and Spanish, which is how they’ve managed to attract customers from over 140 countries. To date, the startup has raised $50.4 million (₹370.4 crore) from its investors.
We have the Noida-based AI-powered delivery management platform FarEye. The idea for FarEye came to Gaurav Srivastava, Gautam Kumar, and Kushal Nahata while they were studying at Kalinga Institute of Industrial Technology. These were the early years of Indian e-commerce, between 2005 and 2009, and logistics was a huge headache for customers. You would get multiple calls from drivers asking you for directions, and sometimes, if they couldn’t find your house, they’d just give up.
Things only got worse in the coming years, and so in 2013, these three founders started FarEye as a SaaS-based solution to some of the problems they had seen. Today, FarEye helps e-commerce and delivery companies manage their supply chain and logistics from a single platform. Using AI-powered algorithms, companies can use FarEye to make real-time decisions on how many drivers they need in any given area, the most efficient routes for those drivers to take, and which packages should be bundled together for multiple deliveries in a specific area. Today, more than 150 companies across 30 countries are using FarEye, and their investors have poured in $150.7 million (₹1,110 crore) into the startup so far.
we have Singapore-based robotics startup GreyOrange Founded by Akash Gupta and Samay Kohli in Gurugram in 2011, GreyOrange’s robots are making warehouses around the world more efficient and less labor-intensive. Normally, to do this, robots execute a tightly controlled, pre-defined task over and over again, but GreyOrange’s robots are significantly more versatile than that thanks to their collective AI-powered hive mind.
GreyMatter, enabling a variety of different kinds of robots in a warehouse to communicate with each other, collaborate, and use their combined knowledge to make decisions as a group. Some of these robots pick things up, some of them move items from point A to point B, some sort of these items, but they’re all in constant, intelligent communication thanks to the power of AI.
GreyOrange’s autonomous robots are used across 48 sites in countries around the world, and the startup has raised $170 million (₹1,250 crore) from their investors. At the time we were writing this post, there were also reports that GreyOrange was looking to go public in the US through a SPAC at a valuation somewhere between $1.5 and 1.7 billion (₹11,025 and 12,495 crore).