Artificial Intelligence (AI) and Machine Learning (ML) are technologies that have seen a tremendous uplift both in terms of investment and innovation in the past three years. They are now being implemented across diverse verticals such as manufacturing, healthcare, fashion, agriculture, real estate, voice-based solutions, etc.
In India, AI startups started emerging in the year 2016. Over the next two years, the growth in the AI startups space has been staggering. A recent report estimated that around $87.85M was alone raised in the AI space in India’s startup capital, Bengaluru. Owing to the spectacular growth in the AI sector, India has emerged as a nation with a robust ecosystem that enables AI startup professionals and founders to kick-start their ventures.
Top 9 Artificial Intelligence (AI) startup Companies in India
Manthan is an AI-based analytics company that was founded in 2003 with an initial investment of $98 million. The company’s AI-powered retail analytics platform provides prescriptive and descriptive analytics for users, grow customer engagement, and recommend actions.
Manthan’s AI platform caters to 170 customers across 21 countries. It helps them in various areas such as marketing, customer targeting, inventory, pricing, and promotions. The Bengaluru-based company also has a Natural Language Processing (NLP) engine called Maya. Maya acts as a business assistant and can answer questions such as sales trends, last month’s profits, etc. In 2018, Forrester Research named Manthan as a strong performer in its Customer Analytics Solutions Wave Q2 report.
By raising $25 million in 2015 from investors, SigTuple began its operations in Bengaluru. Using AI and machine learning, the startup develops medical diagnostic solutions. The company’s AI platform is built to perform screening and advanced diagnosis of urine, blood, semen samples, along with retinal scans and X-rays.
A patient’s samples are first analysed by SigTuple’s AI algorithms. They are then sent to a pathologist for review and finally sent back to the point-of-care in 5 minutes. So in this process, initial diagnosis is done quickly and ambulances can be dispatched to carry emergency medicines to patients. The company is also known for creating an automated microscope to make up for the lack of pathologists.
Mad Street Den is one of India’s first AI and Computer Vision startups. The Chennai-based company aims to bring AI into the daily lives of customers in verticals such as IoT and connected cars, user engagement & analytics, online fashion, mobile gaming, social media, etc.
Vue.ai is the company’s flagship product which serves retailers, specifically in fashion, across the globe. It also makes the shopping experience more meaningful to customers by showcasing products that are most relevant to them across sites, apps, and stores.
The company caters to clients across Asia, Middle East, US, and Europe. Its clientele includes brands such as Voonik, Tata, Zilingo, Craftsvilla, etc. Mad Street Den was also included in Bloomberg’s 2017 list of the world’s 50 most promising startups.
Haptik specializes in developing AI-based chatbots for enterprises, service companies, and consumers. The company was founded in 2013 in Mumbai with a $12 million funding. Haptik provides specialized bots for various industry applications. It also provides customers with a hybrid interface for human-to-AI transitions, a drag-and-drop bot builder, and detailed conversation analytics.
In 2018, Haptik entered into a partnership with Amazon AWS. This partnership will enable the company to incorporate AWS’s cloud offering, AI tools, and advanced database framework. The company’s global clientele includes well-known names such as Coca Cola, Amazon Pay, and Samsung.
Flutura is an IoT startup based out of Bengaluru. The company is a provider of big data analytics solutions with a vision to transform operational outcomes by monetizing machine data. The company’s flagship product is called Cerebra. Through AI, Cerebra provides diagnostics and prognostics to unlock new business value for energy and engineering customers across the world.
The company has clientele such as Hitachi, Henkel, Sodexo, GTT, etc. It also has notable partnerships with Bosch, Halliburton, and Siemens. Flutura was recognized by CIO Review magazine as one of the Top 20 Most Promising Big Data companies in 2015.
Another Bengaluru-based startup, Uncanny Vision uses Deep Learning-enabled vision algorithms that run on Edge servers, to develop surveillance solutions. The company delivers scalable and cost-effective security for next generation smart industries and safe cities. For high-value customers in banking and retail, Uncanny Vision also enables real-time actionable surveillance and analytics.
The company graduated from the Target Accelerated Program in 2016. It was also part of the third edition of Nasscom Innotrek 2016. At the Nasscom Awards 2017, it was selected as one of India’s Most Innovative Top 50 Emerging Software Product Companies. Uncanny Vision is also the winner of YourStory’s search for Top 30 Tech Startups for 2018.
Arya.ai is a Mumbai-based AI startup that helps other AI startups solve complex problems at a much faster pace. The company caters to industry verticals such as Banking, Insurance, Medicine and Healthcare, Retail, and Oil and Gas.
Through its core product, Vega, Arya helps in building complicated systems really fast and helps users in automating multiple things. Vega was designed for researchers and data scientists to build Deep Learning Algorithms at scale. For example, using the company’s platform, insurance firms can process insurance claims in minutes. In the banking industry, Arya’s platform helps in cheque automation. Apart from being based in India, the company is also spread across the UK and Singapore.
Founded in 2017, Bash.ai helps in automating HR systems and procedures complete with virtual assistants and replicating cognitive HR functions. Using AI and big data, the company powers virtual assistants and drives HR for businesses by mimicking cognitive functions related to HR. Bash’s AI chatbot helps companies get a real-time and highly accurate way to automate conversation with employees. The company provides 24/7 assistance, is super fast and increases productivity.
The AI-powered HR chatbot can be accessed using instant messengers such as Skype, Slack, and Facebook Messenger. Currently, Bash.Ai offers modules such as ticketing, HR helpdesk, post-hire orientation, organize HR activities, employee engagement, and payslips related queries. The company’s main aim is to create an ecosystem where humans and AI co-exist efficiently in the HR settings.
Niki.Ai was founded in 2015 with seed money of $2.4 million. The company’s main product is an AI-based shopping assistant and chatbot. The AI assistant helps customers with the help of NLP and ML by helping them shop for products and services over a chat interface. It also helps in automating things like online ordering, phone recharges, and payments.
The company currently caters to over 2 million consumers and provides 20+ services. The intelligent chatbot is now available on Android, iOS, and Facebook Messenger.
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