And we are talking about the hottest brand AI in the Indian market. The brand has been backed by the Indian government with $477 million for Digital India to boost AI, IoT, big data, cybersecurity, machine learning, and robotics.
As per AIMResearch, $836.3 million of funding was raised by Indian AI startups in 2020. In the last seven years, a year-on-year growth rate of 9.7%. With the rise of market demand for AI tech and startups, Finance Minister Nirmala Sitharaman, Union Budget 2019, offers training to 10 million youth in AI, Big Data, and robotics.
The top AI startups in India:-
- Myelin Foundry: It was founded in 2019, as a dep tech product startup by Gopichand Katragadda, Ganesh Suryanarayanan, and Aditi Olemann. It is based in Bengaluru. The industry is transformed by AI algorithms on video, voice, and sensor data. It is the advanced neural compute power in shopfloor, automating decisions on reliability, availability, and maintenance of plant equipment.
The solution includes the Myelin Edge AI platform, real-time analytics, and insights, Edge AI for decisions and actions on remote equipment and user devices, and Video and sensor data.
The startup is backed by marquee investors including Endiya Partners, Pratithi Investments, and Beyond Next Ventures.
It is also a part of Microfost for Startups, NVIDIA Inception Program, and Netapp Excellerator.
It won the NASSCOM Emerge 50 Awards 2020 in the enterprise category.
- Nextbillion AI: It was founded in 2020 by Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng. It is headquartered in Singapore, with offices in Bengaluru, Hyderabad, and Beijing. It provides mapping platform solutions for enterprises. It is addressing map-related requirements such as last-mile optimization, navigation, managing road restrictions, and finding the best-suited route for vehicles.
It is aiming for cost-effective, easy-to-use, and advanced hyperlocal AI solutions. It mapped already more than two lakh kilometers of road with more than one lakh restrictions and two lakh million API calls. The startup is backed by Lightspeed Venture Capital, Falcon Edge Capital, and Microsoft’s venture fund M12.
- Wysa: It was founded in 2015 by Ramkant Vempati and Jo Aggarwal. It is based in Bengaluru. It provides support to manage human stress by an AI-powered chatbot for evidence-based cognitive-behavioral techniques to make them feel heard. It recorded 100 million conversations with a 40 percent improvement in depression symptoms. It is a part of the Google Assistant Investment Program and was awarded as the best app by Google Play in 2020. It is backed by Boston’s W Health Ventures, pi Ventures, and Kae Capital.
- Emotix: It was founded in 2015 by IIT Bombay alumni Sneh Vaswani, Prashant Iyengar and Chintan Rajkar. It focuses on the emotional intelligence of a companion robot Miko for children to be occupied.
It provides services in AI, robotics, and the Internet of Things for mood identification, initiating conversations, and learning to engage with a child from its surroundings. It uses computer vision for identification, remembering, and recollecting known faces and objects.
It is backed by IvyCap Ventures, Chiratae Ventures, and YourNest Capital. The solution is aimed at 20 million homes across verticals of childcare and elderly care.
- Ziptrax Cleantech: It was founded in 2016 by Sonia Singh. It is based in Delhi providing an AI-based engine and IoT-enabled hardware for recycling the used lithium batteries to last for a 40 percent longer duration.
A digital platform for collecting used batteries, after that rigorous tests and quality checks. uses the machine learning algorithms for segregating and regrouping cells and uses AI to repurpose the discarded Li-ion batteries.
It is manufactured for two and three-wheeler EVs. The features are fast-charging, longer service life, zero maintenance, remote monitoring, intelligent power, and high DoD (Depth of Discharge). It is backed by Shell.
- Yellow.ai: It was founded in 2016 by Raghu Ravintala, Jaya Kishore Gollareddy, and Rashid Khan. One of the top omnichannel AI conversational platforms to automate customer experience for enterprises. It collaborated with Microsoft to transform voice automation solutions with Azure AI speech Services and Natural Language Processing (NLP) tools.
The client list is huge with Sephora, MG Motors, Bharat Petroleum, and FoodPand. The voice-based bots are in 100+ languages and it is across 35-plus channels such as web, Whatsapp, Instagram, in-app, IVR, and contact center.
- HEAPS: It was founded in 2013 by Dr. Suman Katragadda. It is a global healthtech solution platform and SaaS provider. It is based in Mumbai. It is focused on revolutionizing the health care delivery and payment model with data analytics, AI, and ML. The company is also customizing care management plans for each patient, payers, providers, and large corporations or even policyholders. It got backed by HNI investors and family offices.
- Data Sutram: It was founded in 2018 by Aishik Pyne, Aisik Paul, Alok Mani, Ankit Das, Rajit Bhattacharya, and Soumik Chakraborty. It is based in Kolkata. It is an AI-based location intelligence enterprise to provide business leverage location-based insight. It got funding of US$2.07 million from investors such as Varanium Capital and Yatra Angel network.
- Cropin: It was founded in 2010 by Krishan Kumar. It is based in Bengaluru. It focuses on future-ready farming solutions (SaaS) solutions for the agricultural sector globally using deep learning. It delivers decision-making tools with live reporting, data analysis, and data interpretation. Several AI-based farm management solutions such as SmartFarm, SamrtRisk, SmartWare, and RootTrace.
- LocoNav: It was founded in 2016 by Shridhar Gupta and Vidit Jain. It is based in Gurugram. It helps drivers and fleet owners in over two-dozen nations to run their vehicles with efficiency and save money. It gives full visibility over a vehicle with access to a multitude of vehicular details in analytics forms from anywhere virtually. The live tracking of the distance traveled by each vehicle. It is backed by Quiet Capital, Anthemis Group, Sequio Capital India, Fundamental, RIT Capital Partners, Uncorrelated Ventures, Village Global, and other ventures also.