The year might have started on an ominous note with recession indicators flashing signs of an economic downturn, but the space of analytics has never looked more indispensable. With companies scrambling to pare costs, more data-driven decision-making will prove to be a simple yet effective proposition for these times.
In recent years, businesses have begun seeing value in capturing actionable insights from vast swathes of raw data. This had led to an upsurge in the number of startups entering the analytics space, some of which have left a lasting impact with their work and the potential they hold.
Like last year, we have compiled a list of some of the most promising analytics startups in India that offer exceptional solutions for data-driven organizations. Listed in alphabetical order, read about the top ten startups emerging in the space of analytics in India in 2020:-
Actify Data Labs, Founded in 2017
Team: Hindol Basu and Bijoy Khandelwal founded the startup, and were later joined by Bilal Arif.
Employee Strength: 47
Eureka Moment: The founding team believed that making data easier and efficient to implement AI is critical to leverage its power. This inspired them to create an agile data journey – one that promises value from data in less than 90 days.
About the company & its analytics solutions: The startup helps organizations leverage the power of data using its data platform ADAPTify and its dedicated digital lab. It comprises pre-built connectors to all databases, cloud storage, Big Data Storage, and enterprise Apps.
The platform provides pre-built drag-and-drop utilities for data quality assurance, data wrangling, creating data marts, visualization and building machine learning (ML) models.
The startup provides an end-to-end data platform and offers data integration, unstructured data management, explainable ML models and model deployment. It also leverages image and text data, as well as streaming data.
Differentiator factor: The startup’s platform-first approach allows organizations to address the entire data journey and show tangible results in less than 90 days – starting from data integration to model deployment.
Growth story: Having launched the platform in 2019, there are currently 8 implementations across BFSI, Manufacturing and Consumer Businesses. Key clients include India First Life, Aditya Birla Health Insurance, The Escorts Group, Starbucks India, Toyota Finance, Equifax, Ola Money, Tata Chemicals, and National Stock Exchange, among others.
Funding: It is funded by True North, one of the largest private equity funds in India.
Amlgo Labs, Founded in 2017
Team: The startup is founded by Ajay Yadav, who has over 12 years of experience in development of data and analytics, ML and RegTech solutions for global firms.
Employee Strength: 15
Eureka Moment: It believes that data analytics and AI can solve problems across all industries. With this vision, it has been working to improve businesses by providing insights to make smart data-driven decisions.
About the company & its analytics solutions: The startup builds innovative concepts and solutions to give an extra edge to businesses, and helps execute effective decision strategies.
What is more, it is not limited to a certain industry or technology. Instead, its analytics services cover all kinds of analytical solutions, and almost all latest data tools and technologies.
It has expertise in fraud risk analytics, regulatory and compliance analytics, customer analytics, and sales and marketing analytics, etc. The team also comprises experts across the data analytics landscape.
Differentiator factor: According to the startup, the main differentiating factor is their vision – “while others plan to win the race, this is an infinite game for us.” They are results-driven and their key pillars are anchored around quality, security, and speed.
Growth story: From two people working on a small assignment, to what the startup has accomplished today, it has come a long way. Some major clients include Macquarie Bank, Wolters Kluwer Financial Services, GCV Life and Instawork.
Funding: In terms of finance, the startup is stable and does not feel the need for funding at this stage.
Atlan, Founded in 2019
Team: The startup was founded by Prukalpa Sankar and Varun Banka, both engineers with deep experience in data science innovation.
Employee Strength: 65
Eureka Moment: The startup was incubated while building India’s national data platform. It was then stress-tested across 200+ data projects. It was during this time that the team built several data tools, that it eventually opened to the world and the startup was launched for commercial use.
About the company & its analytics solutions: Atlan’s data workspace helps bring reproducibility to data and analytics assets, with easily shareable data profiles, metadata and documentation, project templates, and more.
It empowers diverse data users to take control of their analytics pipeline by powering analysts to deal with large volumes of data, enabling users to rapidly prototype big data projects, and helping IT teams enforce enterprise-grade security.
Differentiator factor: The startup is cloud-native and focuses on building connective tissue that connects all best-of-breed tools, such that existing workflows are not impacted while providing new collaboration paradigms. It is also built using the best of open-source technologies that allows teams to scale their projects with minimal disruptions.
Growth story: Early customers have found that the startup’s DataOps-led approach is helping data teams become 6X more agile, and increasing their time-to-insight by up to 60X times.
Funding: Atlan has raised $2.5 million in a pre-Series A round led by VCl firm WaterBridge Ventures. Their investors and advisors include Ratan Tata and Rajan Anandan.
Bewgle, Founded in 2018
Team: The startup was founded by ex-Googlers with over 40 years of experience spanning consumer internet, enterprise software and ad tech products.
Employee Strength: 11
Eureka Moment: The startup was founded with the fundamental belief that there is rich information in reviews – what customers like and dislike, and what matters to them. However, customers do not understand why a product was rated high, and brands do not understand why products sell. Bewgle was founded to answer these questions.
About the company & its analytics solutions: The startup provides deep actionable insights from reviews using AI and NLP. Its analytics product provides insights across the product lifecycle, and is used by brands and marketing agencies worldwide.
Bewgle’s SaaS product and proprietary NLP models identify key customer experience attributes and provide actionable insights. It answers key questions such as which product attributes are important to customers, how satisfied they are with it, who its users are, and more.
It enables brands to compare the customer satisfaction of their product with competitors’, and can also be used to identify keywords for SEO/SEM and brand communications.
Differentiator factor: Its ML tech requires zero configuration to provide actionable insights for any vertical and a user can get started in minutes. Bewgle’s patent pending NLP software has been benchmarked better than Google’s NLP APIs by 10%+ for precision and recall in key categories as well.
Growth story: Bewgle counts brands like Nivea, Flipkart, and BigBasket among its clients.
Funding: Bewgle is backed by SAP and Techstars.
GainInsights, Founded in 2012
Team: Founders Sudhakar Balakrishnan and Mehul Desai together have deep industry experience in Data and Analytics, and Business Intelligence
Employee Strength: 330
Eureka Moment: The idea behind starting up was to provide innovative solutions that would help clients spend less time looking for answers, and more time on strategic decision-making. Today, the startup helps them manage end-to-end data – from acquisition to insights.
About the company & its analytics solutions: Led by strategic partnerships, the startup specializes in platform-based offerings for data-driven enterprises. It approaches every engagement with a keen understanding of where a business lies in the data maturity curve and proposes solutions to specifically advance their goals.
Its five flagship products include ‘Strait’, AI-driven Price and Promotion Modelling (PPM), Marketing Mix Modelling (MMM), Test and Go, and ‘GINIE’ for NLP-based insights. On the back on these products, it has witnessed steadfast growth of clientele across retail, consumer goods, financial services, manufacturing and life sciences.
Differentiator factor: The startup claims drastic reduction in time-to-insight with powerful AI/ML stack with optimal investments. According to the company, its analytics stack can drive predictions and insights at tremendous speed and scale for businesses.
Growth story: Over the last eight years, the startup has acquired more than 180 clients worldwide, including Godrej, ITC, Tata Motors, Carrefour, and CloudTail, among others.
Funding: The startup is self-funded.
HashedIn, Founded in 2010
Team: HashedIn was started by four colleagues from Trilogy – Himanshu Varshney (CEO), Anshuman Singh (COO), Sripathi Krishnan (CTO) and Sandeep Singh (Director of Technology). Kick-started in an apartment, today it has presence in the US, Canada, Australia, and Malaysia.
Employee Strength: 600+
Eureka Moment: Started as a product company to build e-commerce products for SMEs, it has emerged into a product development services company, building over 225 products for customers across the globe.
About the company & its analytics solutions: With nearly a decade of SaaS expertise, the startup has built solutions for over 165 clients worldwide. As an analytics consulting partner, it helps organizations derive insights via analytics by collecting, organizing, processing and visualizing huge volumes of data.
The key analytics solutions the startup offers include data ingestion and data pipeline solutions, data lake solutions, data visualization solutions, data warehouse, and IoT analytics.
Differentiator factor: HashedIn’s success in the analytics domain is the result of four major factors – mastery in data engineering (it delivers Well-Architected Analytics Solutions (WAAS)), expertise in visualization tools, new-age tech partners like AWS, Confluent, and Azure, and its products and Accelerators (it has developed open source tools like SQueaLy to accelerate the growth of an Analytics application).
Growth story: The startup has been growing at 2.5X for the last few years. Major clients include Aruba, Confluent, Aditya Birla Group, Utopus Insights, Mahindra, Sleeves UP- Sorted, Myntra, Honeywell, PathSpot and Safely You.
Funding: The startup is boot-strapped and self-funded.
Kyvos Insights, Founded in 2015
Team: Kyvos Insights was founded by a team of veterans from Yahoo!, Impetus, and Intellicus Technologies. The founding members include Praveen Kankariya, Ajay Anand and Rajesh Murthy.
Employee Strength: 175
Eureka Moment: With data growing by the day, organizations are struggling to consume it and use it to make effective data-driven business decisions. Kyvos was built to make this possible. The startup has built a BI acceleration layer to supercharge existing tools and makes them capable of generating insights at any scale.
About the company & its analytics solutions: The startup has developed and patented a breakthrough OLAP technology that enables users to visualize, explore, and analyze massive volumes of data on the cloud and on-premise data lakes with sub-second response times.
The core solution of the startup, Kyvos BI Acceleration Platform, delivers the fastest time-to-insights. Furthermore, it bridges the gap between BI tools and modern data platforms, helping users explore all their data to discover new possibilities for their businesses.
Differentiator factor: The startup’s OLAP technology eliminates the barriers of traditional BI architecture and delivers unmatched BI performance and limitless scalability for thousands of users across the enterprise.
Growth story: The same year as it was launched, Kyvos was listed among the ‘10 Coolest Big Data Startups of 2015’ by CRN Magazine. Over the years, it has won several awards and today, some of the top Fortune companies across the globe use its technology to transform their businesses.
Funding: The startup is self-funded.
MoEngage, Founded in 2014
Team: The startup was incorporated by Raviteja Dodda and Yashwanth Kumar, both alumni of IIT Kharagpur.
Employee Strength: 280+
Eureka Moment: The founders saw an opportunity in the explosion of mobile adoption and built a fast-scaling global business with MoEngage – a platform that helps digital businesses engage and retain their users.
About the company & its analytics solutions: With AI-powered automation and optimization capabilities, it combines both analytics and user engagement needs of a brand to make actionable analytics.
Some of the key features offered include behavioral trends, funnel analytics, cohorts, open analytics, custom dashboards, traffic source analysis, and automate segmentation with RFM analysis.
Today, Fortune 500 brands across 35+ countries such as McAfee, Samsung, and Vodafone use MoEngage to engage and retain users on their mobile.
Differentiator factor: The startup allows customers to get insights into their user behavior and act on the insights from the same platform. Furthermore, its open analytics helps customers get a centralized view of users across touchpoints.
It also integrates with BI tools to provide limitless data visualization capabilities and facilitate collaboration across product, marketing, and data teams.
Growth story: MoEngage saw early success with rapid adoption from mobile-first brands like Snapdeal, and Gaana. Today, it has amassed hundreds of customers and is serving more than 400 million active users each month.
Funding: MoEngage had raised three rounds of funding – Series A of $4.25 million, Series B of $9 million and $25 million in the latest round.
Marax AI, Founded in 2016
Team: The startup’s lead members – Prateek Gupta, Raman Shrivatsava and Sumant Subrahmanya – collectively have experience in game design, AI, user retention and product design.
Employee Strength: 11
Eureka Moment: Marax AI started with the sole mission of promoting user habit formation via individualized incentive loops, while considering business constraints like budget.
About the company & its analytics solutions: Marax AI focuses on mobile-first commerce sectors like food delivery and grocery. Under the umbrella of CustomerGlu SaaS, it offers habit formation constructs like a multistep program.
This feature presents a personalized user interface to the end-user. It nudges users to complete critical activities and win a dynamic reward. A combination of other activities completes the individualized incentive loops and supports long-term user habit formation.
Differentiator factor: CustomerGlu takes care of business constraints like budget and retention goals. It strikes the right balance between personalizing the outputs for the end-user, while considering the business constraints.
Growth story: Marax AI launched the MVP of CustomerGlu in 2019. With offices in Palo Alto, California, and Bangalore, India, it started working with Rapido to prove a 30% uplift on the number of transactions per rupee spent on incentives, against control for new user activation and resurrection use cases.
Funding: The startup was seed-funded by former head of Google search, Amit Singhal, SmartStart fund, Palo Alto and Zeroth AI, Asia’s first ML/AI based accelerator program.
testAIng, Founded in 2019
Team: The company is founded by a set of veterans from the IT industry with a track record of decades of experience focussed on AI and testing. Vipul, CEO of testAIng, is a veteran in testing with over 25 years of experience.
Employee Strength: 15
Eureka Moment: The idea of launching a focused AI testing solutions company originated from the team’s conversations with IT professionals who took AIUnited certification on AI Testing. That feedback helped consolidate their offerings in the form of testAIng (pronounced as tAI).
About the company & its analytics solutions: The startup helps customers by testing AI systems using tools – its own as well as third parties’ – to support the testing processes, including automation.
Additionally, it has been investing heavily into researching and creating state-of-the-art techniques, patent-backed tools and technologies. The startup has combined its experience in testing along with AI to create a unique and one-of-its-kind proposition for testers who want to either use AI in their testing processes, or get their AI systems tested.
Key features include a set of innovations in testing for modern AI systems including verification, pseudo oracle based techniques and automation.
Differentiator factor: The startup has brought together top thought leaders in AI and in the testing space. Its patent pending frameworks for AI testing is another key differentiating factor.
Growth story: It has been working with multiple clients in areas of edutech, e-commerce and gaming since its inception last year.
Funding: The startup is bootstrapped.