According to AIMResearch, Indian AI startups raised $836.3 million in 2020, the largest funding outlay in the last seven years at a 9.7% year-on-year growth. The same year, Indian government increased the outlay for Digital India to $477 million to boost AI, IoT, big data, cybersecurity, machine learning and robotics. In the 2019 Union Budget, Finance Minister Nirmala Sitharaman said the government would offer industry-relevant skill training for 10 million youth in India in technologies like AI, Big Data and robotics.
To wit, India’s AI ecosystem is seeing explosive growth with a lot of inventive startups entering the space. Analytics India Magazine comes with a list of 10 exceptional startups leading the AI race every year.
Here are the lists from previous years: 2020 | 2019 | 2018 | 2017 | 2016
Below, we have corralled the top AI startups in India in 2021.
(The list is in no particular order)
Myelin Foundry
Incorporated in 2019, Myelin Foundry is a deep tech product startup founded by Gopichand Katragadda, Ganesh Suryanarayanan, and Aditi Olemann. The Bengaluru-based startup helps transform industry outcomes by building artificial intelligence algorithms on video, voice and sensor data.
Myelin Foundry helps enterprises leverage the power of advanced neural compute in the shopfloor, automating decisions on reliability, availability and maintainability of plant equipment.
Its solutions include:
- Myelin Edge AI Platform
- Providing real-time analytics and insights
- Edge AI to take decisions and actions on remote equipments and user devices
- Video and Sensor Data
Myelin Foundry is backed by marquee investors including Endiya Partners, Pratithi Investments, and Beyond Next Ventures. It has been a part of Microsoft for Startups, NVIDIA Inception Program, and Netapp Excellerator. The startup also won the NASSCOM Emerge 50 Awards 2020 in the enterprise category.
For more information, click here.
Source: Google Cloud’s website
Nextbillion AI
Founded by Ajay Bulusu, Gaurav Bubna and Shaolin Zheng in 2020, Nextbillion AI is headquartered in Singapore, with offices in Bengaluru, Hyderabad and Beijing. The startup’s northstar is to build the world’s most easy-to-use, cost-effective and advanced hyperlocal AI solutions.
Nextbillion AI is a mapping platform for enterprises. Nextbillion AI helps enterprises address all the map-related requirements– last-mile optimisation, navigation, managing road restrictions, and finding the best-suited route for vehicles.
One year into its inception, Nextbillion AI has mapped more than two lakh kilometres of roads, managed more than one lakh restrictions and handled two lakh million API Calls. Going forward, Nextbillion AI aims to be the global leader in artificial intelligence-powered hyperlocal solutions.
The startup is backed by Lightspeed Venture Capital, Falcon Edge Capital and Microsoft’s venture fund M12.
For more information, click here.
Wysa
Founded in 2015 by Ramakant Vempati and Jo Aggarwal, Wysa helps users self-manage stressors by blending AI-guided listening with provisional expert support. The Bengaluru-based startup has developed an AI-powered chatbot that leverages evidence-based cognitive-behavioral techniques to make the user feel heard.
The solution has powered 100 million conversations. Regular users have shown a 40 percent improvement in self-reported symptoms of depression, the startup has claimed.
Wysa is a part of the Google Assistant Investment programme. It was awarded the Best App of 2020 award by Google Play. The startup is backed by Boston’s W Health Ventures, pi Ventures and Kae Capital.
For more information, click here.
Emotix
Mumbai-based Emotix (short for emotional intelligence) was founded by IIT Bombay alumni Sneh Vaswani, Prashant Iyenger and Chintan Rajkar, in 2015. The startup has developed a companion robot Miko to help parents keep their children occupied.
The startup leverages AI, robotics, and Internet of Things to identify moods, initiate conversations and learn from its surroundings to engage with a child. Miko does so by using computer vision to identify, remember and recollect known faces and objects.
The startup is backed by IvyCap Ventures, Chiratae Ventures, and YourNest Capital.
Going ahead, Emotix aspires to bring its solutions to 20 million homes across verticals childcare, elderly care etc.
For more information, click here.
Ziptrax Cleantech
The Delhi-based startup leverages AI-based engine and IoT enabled hardware to make lithium batteries last for up to 40 percent longer.
Ziptrax Cleantech, founded by Sonia Singh, has developed a digital platform to collect used batteries. Post collection, it puts the batteries through rigorous tests and quality checks. The startup then uses machine learning algorithms to segregate and regroup cells, and finally use AI to repurpose these discarded Li-ion batteries. Additionally, Ziptrax Cleantech manufactures battery packs for two and three-wheeler EVs. The startup gives a second life to Li-ion batteries with enhanced features including fast-charging, longer service life, zero maintenance, remote monitoring, intelligent power, and high DoD.
Ziptrax Cleantech is backed by Shell.
For more information, click here.
Yellow.ai
Founded in 2016 by Raghu Ravintala, Jaya Kishore Gollareddy and Rashid Khan, Yellow.ai was formerly known as Yellow Messenger. It offers an omni-channel conversational AI tool to automate customer experiences for enterprises.
Yellow.ai’s client list includes the likes of Sephora, MG Motors, Bharat Petroleum, and FoodPanda. The startup’s chat and voice-based bots are available in 100-plus languages, and across 35-plus channels like web, Whatsapp, Instagram, in-app, IVR and contact center.
Earlier this year, Yellow.ai collaborated with Microsoft to transform its voice automation solution using Azure AI Speech Services and Natural Language Processing (NLP) tools.
For more information, click here.
Qure.ai
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai is on a mission to use AI to make healthcare more accessible and affordable. It combines the strength of deep learning with clinical, scientific and regulatory knowledge to design real-world solutions.
The Mumbai-based startup uses AI algorithms for medical imaging. It uses deep learning to analyse abnormalities on X-rays, CT Scans and MRIs. The startup’s products are powered by NVIDIA, AWS, Azure and Intel.
Qure.ai’s solutions include qXR, qER, and qQuant. It is backed by Fractal, Sequoia, and MassMutual Ventures.
For more information, click here.
LogiNext
Founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani, LogiNext is a transportation and automation startup. LogiNext offers logistics data analytics, warehouse management and asset tracking services. It’s AI-powered logistics management software tracks the workforce in real-time, enabling enterprises and businesses to plan and manage their dispatch schedule and delivery routes.
Initially headquartered in Mumbai, the SaaS company has now moved its base to the US. It also has offices in Singapore, Indonesia and UAE. It operates in more than 50 countries, serving up to 150-plus enterprise clients including Myntra, McDonald’s and Decathlon. LogiNext is backed by the likes of Tiger Global Management and Steadview Capital.
For more information, click here.
WotNot
Founded by Mitul Makadia in 2018, WotNot is a B2C no-code chatbot platform and livechat solution. It allows enterprises to build and create powerful chatbots to engage visitors and enhance customer experience in real-time and across multiple channels. The platform provides features including version control, autosave, auto-arrange, bot management, undo-redo, and clone, among others. Additionally, the chatbots are multilingual, cost-effective, and omni-channel. The Ahmedabad-based startup helps enterprises solve business challenges including generating leads, booking appointments, and scaling customer support.
WotNot comes with a built-in analytics suite allowing businesses to track goals, measure bot engagement, and obtain insights including countries, retention rate, funnel analysis, and user behaviour. It also integrates seamlessly with Salesforce, Zoho, Shopify, and Zendesk.
WotNot works with enterprises in the manufacturing, real-estate, insurance, banking, and healthcare sectors. Its clients include Srijan, Piramal Realty, Zuru and Crayons Communications.
For more information, click here.
Ishitva Robotic Systems
Founded in 2018, Ishitva Robotic Systems is headquartered in Ahmedabad. Founded by Jitesh Dadlani and Sandip Singh, the startup designs and builds waste sorting plants and solutions using Industry 4.0 technologies. It uses AI, ML and IoT to segregate waste and recover recyclables.
Ishitva’s solutions include NETRA (Machine Vision System), SUKA (AI-powered Air sorting), YUTA (AI-powered robotic sorting) and IoT-enabled smart bins. So far, the startup has sorted 375 MT mix waste, recovered 215 MT plastic, and has deployed four air sorters and one robot. Ishitva is a part of the NVIDIA Inception Program.
For more information, click here.
