Introduction
Data technologies have been around for some time. But, the increase in data generation and the availability of servers in the cloud has allowed a whole generation of startups to work on ideas that were unthinkable a few years ago. The change in the landscape is aptly summed up in the following quote:
When I see data today, I think OPPORTUNITY
A DataPeaker, we love startups and we love data! Then, mixing the two provides us with the heady mix we thrive on. That's where this article was born.. Today, we will see 10 exciting startups in Analytics / Data Science / Machine Learning / Artificial Intelligence based in India, who seek to revolutionize the world in the coming years.
Framework for preselecting startups
This list has been selected based on certain parameters, that act as indicators of startup success. The parameters on which startups have been evaluated are:
- The founding team – This includes the diversity of the founding members, your educational background and past experiences.
- The sector / Market – The industry in which the startup plays and the opportunities it can take advantage of in that market.
- Investment – If the startup has raised funds, the quantity and quality of funds received.
- Recognition – Includes the mentions and awards the startup has received.
- Increase / traction – Considers revenue and customer growth.
List of companies
Incorporated in 2012 por Arjun Pratap, Edge Networks dreams of changing the way the HR industry works right now. With an increasing number of job seekers, the process of finding a suitable partner for a particular job profile today has become extremely cumbersome. With data science and artificial intelligence at its core, Edge Networks has developed its HIREalchemy product to match people to the required work. The solution provided by them facilitates the acquisition of talent, internal workforce optimization and talent analysis. Edge Networks appeared on the Emerge list 50 2016 de Nasscom.
What if I tell you that there is a company that is working to turn any screen into a gesture-controlled artificial intelligence assistant? Then, either in shopping centers, banks, etc., these screens will be able to address you when you approach a product that is next to it, just like a human staff does. Fluid AI is one of those companies that is on the verge of a revolution for personalization in finance, government, web and marketing. Founded in 2009 Abhinav Aggarwal y Raghav Aggarwal, Fluid AI leads the virtual customer support market. Its objective is to serve various sectors to mimic human interaction with the customer and help reduce the operating cost of a company. Fluid AI serves clients like Vodafone, Toyota, Deloitte, Emirates, NBD, Barclays, Rolls Royce, Accenture y Axis Bank. This is a company to watch out for.
Occasionally, we see analytics startups trying to generate insights from structured and unstructured data. But Flutura founded by Derick Jose, Srikanth Muralidhara and Krishnan Raman are different. Flutura believes in behaviour and no perspectives. Flutura works on the M2M model through its product Cerebra where you collect data on thousands of data points from several different machines. And then leverage these data points to turn them into actionable strategies like machine repair pre-scheduling., spare parts orders, etc. This model increases the useful life of the machines, saves costs in operating losses and increases efficiency. Flutura has been recognized as one of the 20 Most Promising Big Data Companies Globally by Tech Magazine, based in California, CIO Review, and was also recognized by TechSparks2013 as one of the 3 India's top startups.
Trade is an uncertain world and the best example of Butterfly effect. Any small incident somewhere in the world can result in huge profits or losses in the trading industry.. What if there was a way to keep track of all this news, people's emotions, trending feelings, etc., all in one place that can optimize your business strategy?
Founded in 2010 by four former Merrill Lynch executives, Abhijit Vedak, Jaison Mathews, Mukund Mudras, Som Sagar, Heckyl is revolutionizing the trading industry for brokerage firms, short-term traders, investors and fund managers. Heckyl does this through its integrated trading terminal, which also provides images and heat maps of sentiment and market data to help traders find the right trading opportunities.
Some of the clients are Angel Broking, Sharekhan, Motilal Oswal. Heckyl is a Mumbai-based startup.
You plan to buy a red knee length floral dress on some online fashion websites and what you get in return is a red dress, a short red dress and any other combination, but not the one you wanted. This is where Mad Street Den's flagship product comes in., Vue.ai, which relies heavily on machine learning and artificial intelligence. Vue.ai provides a visual search using captured photos, addressing customers through emails and messages with their own style preferences. Ecommerce companies can customize their home pages according to their customers' preferences along with automatic product tagging.. The interesting feature of the Mad Stree Den algorithms is the use of neuromorphic principles that facilitate organic learning using less data..
Mad Street Den was founded by the couple Anand Chandrasekaran and Ashwini Asokan in 2013 from his office in Chennai.
Founded in 2015 por Sachin Jaiswal, Nitin Babel, Shishir Modi y Keshav Prawasi, Niki.ai aims to be the one-stop solution for a customer's order.
The startup leverages natural language processing and machine learning technologies to converse with customers through a simple chat interface and places their orders with its partner companies in seconds..
La startup, in August, launched its Facebook Messenger bot. With an Android app and now Nikibot, Niki helps people in India to take a taxi, order food and pay your laundry or electricity bill, among other things. The bot allows users to pay for services directly in the chat through Paytm without having to leave Facebook Messenger.
The company works on a channel association model and generates income for each order processed on its platform. It is now also working with brands to provide them with chatbots for their use case and application..
Niki.ai has Ratan Tata as one of its sponsors and it is an essential application to try at the same time.
Founded in 2015 for Rajul Tandon and Pranav Bhruguwar, ShopR360 offers video analytics solutions to shopping malls, retailers, hypermarkets and quick service restaurants. Its technology distinguishes personnel from clients and integrates easily with existing CCTV infrastructure at no additional cost.. Its solutions help increase staff productivity, mapping the customer journey in retail stores, measure step, bounce rates and dwell times. As a result, increases conversion rate and helps in strategic product placement in stores.
ShopR360 uses a combination of wi-fi sensors / bluetooth, CCTV and Optical Character Recognition. ShopR360 appeared on the Emerge list 50 of Nasscom of 2016.
In a nation where there is a huge shortage of trained physicians, SigTuple, founded by former American Express employees Tathagato Rai Dastidar, Rohit Kumar Pandey, Apurv Anand en 2015, took on the task of assisting physicians in the rapid diagnosis of diseases through image processing. and classification with artificial intelligence and machine learning at its core. SigTuple aims to create affordable medical diagnostic solutions using a microscope, a mobile phone app and cloud-based engine for analytics and reports.
SigTuple is backed by the founders of Flipkart and Accel Partners.
In his own words, Socialcops is on a mission to tackle the world's most critical problems using data. Its platform helps drive health policy, smarter cities and educational outcomes.
Socialcops offers three products: collect, search and view. Collect is an Android application in which human sensors feed it data on a regular basis. This is currently being used in places like Jharkhand for purposes where there is no data.. Through the search, collected data can be structured and classified at a very rapid pace. Visualize helps make decisions based on collected data.
Nowadays, SocialCops is working to improve India's healthcare segment by acting as a grassroots data aggregator.
Socialcops instead of their contribution to making the world a better place to live has been mentioned in Fortune 40 under 40 and Forbes 30 under 30.
10. VPhrase 
Vphrase, funded by Neerav Parekh 2015, is a natural language processing company with PHRAZOR as its product that can convert and structure content like graphics into words as if they were written by a human analyst. VPhrase is on the verge of an innovation in terms of reports that are prepared and consumed by company employees. PHRAZOR can generate automated reports, write articles, weather reports. The possibilities are endless. What makes VPhrase even more exciting is its ability to analyze charts and create a word report in multiple languages..
VPhrase is backed by the Venture Catalysts seed funding platform.
Final notes
It hasn't been long for AI and machine learning in India. But nevertheless, Several exciting startups have been incorporated that are pushing the limits of technology and human comfort while solving real-world problems. Apart from the 10 mentioned startups, there are many more startups in the analytics industry that are waiting to make a mark. If you know of a company that is pushing the limits of AI, share it with me in the comments below.
I hope you enjoyed reading this article as much as I did writing it.. I would like to know your opinion on the new companies above, share your opinion in the comments below.
