In this article, we look at AI startups in India that have attracted big ticket investments in India in the last 5 years. The past investments are also an indication of most valued deep tech startups by investors who expect to see big returns from these technologies. These startups are providing solutions in the area of NLP, deep learning and computer vision and have attracted massive capital from investors who expect to see big returns. The funding data has been collected from this insights platform. The list is in no particular order.
1) Sigtuple: Bengaluru-based healthtech startup Sigtuple develops an AI-based platform to digitize pathological tests for hospitals and clinics. Founded by Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand, SigTuple counts Accel Partners, Trusted Insight, Chiratae Ventures, IDG Ventures, Flipkart co-founders Sachin Bansal and Binny Bansal, Pi Ventures, Endiya Partners, Axilor Ventures and others as investors. According to entrackr, the diagnostic startup raised $19 million Series B round and $16 million in Series C round.
Total Funding: So far, as per news reports, the deeptech startup has raised $40 million across four rounds.
2) Mad Street Den: Chennai-based Mad Street Den founded by Ashwini Asokan and Anand Chandrasekaran in 2016 has seen tremendous growth in the retail sector in the last few years. With a clutch of marquee retail clients under its belt, Vue.ai brings AI and intelligent automation at the heart of online retail experiences, drive better user experience and helping teams improve efficiency with AI-powered retail automation. The startup counts Falcon Edge Capital to our board joining Sequoia India and Exfinity VP among its investors.
Total Funding: The startup behind Vue.ai has raised $27.5 million till date, a report indicated.
3) Niramai: This Bengaluru-based startup NIRAMAI, well-known for its AI-powered breast cancer detection solution has made rapid development in the use of AI and ML for cancer detection. The startup recently raised $6 mn in Series A funding led by Dream Incubator, a Japanese VC firm. One of their first solutions was an end-to-end breast cancer screening solution using Niramai’s technology at a hospital. The startup counts pi Ventures, Axilor Ventures and Ankur Capital and Binny Bansal among its investors.
Total Funding: According to data from owler, Niramai founded in 2016, has participated in 3 rounds of funding and has raised $12.5 million in capital. The last funding round was in February, 2019 where the startup raised $6 million.
4) MiHup: This Kolkata-based regional voice solutions provider MiHup was in the news for raising a fresh round of funding from Accel Partners India and Ideaspring Capital. Pegged as one of the most promising startups, MiHup founded by Tapan Burman, Biplab Chakravorty, Sandipan Mandal and Sandipan Chattopadhyay, was set up in 2016 and provides an AI-enabled speech recognition platform for vernacular languages. The service is currently available in Hindi, Bengali and English.
Total Funding: The startup raised $1.7 million in funding from Accel Partners India and Ideaspring Capital, with a total capital of 8.5 million in 2 rounds.
5) Active.ai: Kalaari Capital and IDG Ventures India backed chatbot startup Active.ai which has operations in Singapore and Bengaluru provides an omni-channel platform that allows financial service companies like banks, wealth managers and asset managers to engage with their customers over on bots, SMS or voice API’s.
Total Funding: The startup founded in 2016 by Parikshit Paspulati, Shankar Narayanan and Ravi Shankar who is also the CEO has raised $11.8M in funding. Their last funding round was in . 2017 where the startup raised $8.2M capital.
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6) FrontdeskAI: One of the leading developers for AI assistants for small businesses, pi Ventures backed FrontdeskAI develops AI-based solutions for SMEs, primarily in the area of wellness, including the spa, salon and fitness industries. Headquartered in California, the startup was founded in 2017 by Srivatsan Laxman and Supriya Rao. What FrontdeskAI essentially does is provide a second layer of intelligence comprising human trainers to groom the AI assistant to speak in the style and tone of the customer brand. After a certain period of time, the AI assistant becomes independent with the knowledge and experience from interactions.
Total Funding: In March, the startup raised an additional $2 million in seed funding from pi Ventures, thereby bringing its total seed funding to $4.2 million. In an earlier seed round in June 2018, led by Blue Pointe Capital, the startup raised $1.1 million in capital.
7) Arya.ai: Founded by Vinay Kumar, Arya.ai provides AI and deep learning solutions for the BFSI (Banking, financial services and insurance) sector in India. The startup’s plug and use deep learning platform provides automates processes in the banking and insurance sector, thereby improving efficiency and cutting down on operational tasks.
Total Funding: Based out Mumbai, the startup had raised $750,000 in pre-series A funding in 2015, as per this competitive intelligence platform.
8) Entropik Tech: Founded by Ranjan Kumar, this Bangalore-based startup builds AI tools that help brands identify human emotions and tweak products. Some of the core technologies used by this startup are facial coding, tracking consumer’s emotions, eye tracking, brainwave mapping etc.
Total Funding: In 2018, Emotion recognition startup raised $1.1 million capital from Bharat Innovation Fund and Parampara Capital. In 2016, the startup raised $200,000 in seed funding.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.