India’s AI Revolution: Meet The Top Startups
5 min read
India is far from Silicon Valley, but it’s gaining momentum in the AI world with its incredible engineering talent. The country is home to a dynamic AI startup ecosystem, reminiscent of the early SaaS days. These startups are not only fixing local problems but also making waves globally.
Despite funding limitations, Indian AI startups are pushing boundaries. From creating large language models (LLMs) to making AI accessible in home kitchens, these companies are on a mission. This article dives into India’s biggest AI startups, based on their funding, and explores their unique innovations.
Krutrim: A Unicorn in AI
Leading India’s AI scene is Krutrim, founded by Bhavish Aggarwal. This startup achieved unicorn status with $50 million in funding. Krutrim aims to build a large language model (LLM) based on Indian languages and English.
Launched in December 2023, the startup introduced an AI chatbot earlier this year. Despite some backlash over its initial public beta launch, Krutrim claims that its AI model continuously improves through regular updates.
Sarvam AI: Versatile LLMs for Enterprises
Founded by Vivek Raghavan and Pratyush Kumar, Sarvam AI has raised $41 million. They focus on creating LLMs based on Indian languages. Sarvam AI emerged from stealth late last year and is gaining attention for its full-stack generative AI offerings.
In February, Sarvam AI partnered with Microsoft to develop voice-based AI tools. The startup’s Indic voice LLM is now available on Azure, making it easier for enterprises to develop GenAI apps.
Sarvam AI’s founders previously worked with tech veteran Nandan Nilekani on the AI4Bharat project. Their venture aims to contribute to open-source models and datasets, making generative AI more accessible.
Mad Street Den: Enterprise AI Solutions
Mad Street Den, co-founded by Ashwini Asokan and Anand Chandrasekaran, has bagged $67 million. Initially focused on retail, the company’s AI solutions now serve various sectors, including finance, healthcare, and logistics.
The Chennai-based startup seeks to make people worldwide ‘AI natives.’ Its computer vision technology offers tailor-made solutions for enterprise customers, enhancing efficiency and productivity.
Mad Street Den’s mission is ambitious: to extend beyond the Indian market and impact global enterprises. Their versatile AI platforms are designed to tackle complex challenges across multiple industries.
Wysa: Emotional Intelligence in AI
With $25 million in funding, Wysa leverages AI for mental health therapy. The startup’s chatbot, used by over 6.5 million people globally, helps users discuss their feelings.
Wysa was co-founded by Jo Aggarwal and Ramakant Vempati in 2016, inspired by Aggarwal’s battle with depression. The AI-enabled chatbot offers an emotionally intelligent response, managed by mental health professionals.
Besides its Bengaluru base, Wysa operates in Boston and London, reaching diverse age groups in more than 95 countries. Its innovative approach makes mental health support more accessible.
Neysa Networks: AI Infrastructure Specialists
Led by Sharad Sanghi and Anindya Das, Neysa Networks has raised $20 million. The Mumbai-based startup provides generative AI platforms and services to businesses.
Neysa’s Nebula platform scales AI projects using on-demand GPU infrastructure, while the Palvera platform offers multi-vendor and multi-input observability. Their Aegis platform focuses on AI/ML security.
The company aims to let businesses deploy AI and ML with ease. Neysa Networks stands out for its comprehensive approach, addressing various aspects of AI deployment and security.
Upliance AI: Revolutionizing Home Cooking
Upliance AI, founded by Mahek Mody and Mohit Sharma, has raised $5.5 million. The startup uses AI to help people cook over 500 new dishes at home.
The Bengaluru-based company plans to raise an additional $10 million to $15 million soon. Their AI technology brings convenience and variety to home cooking, making gourmet meals accessible to everyone.
Upliance AI is set to expand its market presence, aiming to revolutionize home kitchens with its innovative solutions.
Scribble Data: AI for Insurers
Founded by Venkata Pingali and Indrayudh Ghoshal, Scribble Data has raised $2.3 million. The company offers AI assistants for large North American and European insurers.
Headquartered in Bengaluru, Scribble Data also has a sales team in Toronto. Their domain-specific AI solutions help insurers scale back-end business capacities efficiently.
The company’s specialized AI assistants aim to transform the insurance industry, streamlining operations and enhancing customer service.
Expertia AI: Streamlining Recruitment
Expertia AI, co-founded by Kanishk Shukla and Akshay Gugnani, has garnered $1.3 million. This startup helps businesses automate recruitment processes using AI.
Based in Bengaluru, Expertia AI reduces hiring time to just 24 hours. Their technology covers sourcing, screening, engagement, and even scheduling interviews.
The startup uses proprietary deep-learning algorithms to make the recruitment process faster and more efficient. Expertia AI is currently in the process of raising another $3 million.
OnFinance: AI for Finance
OnFinance, founded by Anuj Srivastava and Priyesh Srivastava, has raised $1.1 million. This Bengaluru-based startup focuses on AI solutions for banks and wealth management companies.
Their AI co-pilots assist in equity research, compliance, and wealth advisory. The startup aims to enhance decision-making and operational efficiency in the finance sector.
OnFinance’s innovative solutions are designed to integrate seamlessly into existing systems, making them highly effective tools for financial institutions.
Helium: Boosting E-commerce
Helium, founded by Shray Arora and Sidharth Sahni, has raised $550,000. This Delhi-based startup helps e-commerce brands with AI-driven storefronts and direct-to-consumer web solutions.
Helium’s reactive headless storefronts offer a customizable shopping experience. The startup aims to boost e-commerce platforms by making them more responsive and efficient.
Their innovative approach is set to transform the online shopping experience, providing brands with the tools they need to succeed.
Soket Labs: AI Research and Development
Soket Labs, founded by Abhishek Upperwal, has raised $140,000. This startup focuses on AI research and has developed the Pragna-1B multilingual LLM.
Based in Bengaluru and Gurugram, Soket Labs plans to raise an additional $7 million soon. Their GenAI Studio facilitates AI research and development, contributing to the field significantly.
Soket Labs’ advancements in multilingual AIs aim to make AI technology more accessible globally. Their research-oriented approach sets them apart in the industry.
Kissan AI: AI for Agriculture
Founded by Pratik Desai, Kissan AI is based in Surat and the Bay Area. The startup focuses on AI solutions for agriculture using its GenAI platform, AgriCopilot.
Though currently bootstrapped, Kissan AI plans to raise $3 million to $4 million soon. Their domain-specific Agri LLMs, known as Dhenu, aim to revolutionize farming practices.
Kissan AI is poised to make a significant impact on agriculture, offering innovative AI tools to farmers and related sectors.
Shorthills AI: Custom AI Tools
Shorthills AI, founded by Pawan Prabhat and Paramdeep Singh, is based in Gurugram. The startup builds custom AI tools for enterprises in India and the U.S.
Founded in 2018, Shorthills AI has managed to make a mark with its tailor-made solutions. Their offerings address specific needs, making businesses more efficient.
The startup’s custom tools are designed to give enterprises a competitive edge, ensuring they can leverage AI technology effectively.
India’s AI startups are making significant strides in various sectors, from agriculture to mental health.
Despite limited funding, their innovative solutions are not only serving local markets but also gaining global attention.
These startups are a testament to India’s growing influence in the global tech arena.
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