10 Artificial Intelligence (AI) Startups in India You Should Know
- Check out 10 of the most awesome Artificial Intelligence (AI) startups in India
- We focus on a diverse field of AI startups, including startups from Healthcare, Logistics, FinTech, among others
- Any AI startup we missed? Let us know in the comments!
“AI is the new electricity.” – Andrew Ng
When Andrew Ng speaks, you drop everything and pay attention. That’s what I (and thousands of others) did when Andrew Ng compared our age of AI to the discovery of electricity.
We are truly living in the age of artificial intelligence. Companies are spending billions of Dollars just to stay relevant in today’s ever-changing environment. If you’re not AI-compatible, the consensus is that you will soon be an also-ran in the industry.
This got me thinking – could I bring out the AI startups in India truly bringing about a global revolution? It was an interesting quest. I put down a framework or criteria to filter the top AI startups in India (which we will see soon).
So, this article highlights the top Indian AI startups, the top initiators, that are using AI to build a better future for us. Ready to dive in and look at the framework I used to create this list?
If you’re entirely new to artificial intelligence, here are a few articles to get you started:
- Must Read Books for Beginners on Machine Learning and Artificial Intelligence
- 10 Must watch videos illustrating Amazing Applications of Artificial Intelligence (AI)
- 10 Mind-Blowing TED Talks on Artificial Intelligence Every Data Scientist & Business Leader Must Watch
Framework to shortlist the startups
This list has been curated based on certain parameters which act as indicators for the success of startups. The parameters on which startups have been evaluated are:
- The Sector / Market: The industry in which the startup plays and the opportunities that it can leverage in that market
- Investment: Whether the startup has raised funds, the amount and quality of funding received
- Of course, the primary criteria was that the startup should be in India!
Our Pick of the Best AI Startups in India:
- Conversational AI Startups
- Healthcare Startups
- Logistics Startups
- Fintech Startups
- Other Awesome AI Startups
Conversational AI Startups
Chatbots are ubiquitous these days. From businesses to the research lab, they have become an integral part of an organization’s strategy. Learning how to create a chatbot from scratch is a much-vaunted skill in data science.
Haptik.ai is the world’s largest conversational AI platform. I’m a huge Haptik fan. The company was launched back in 2013 as a one-stop app for all everyday tasks and is now undoubtedly a market leader in its field.
Haptik provides 16 different channels of texts and voices for the users to build, deploy and manage a conversational application. Haptik only focuses on use cases to enable end consumer engagement on the back of real conversational data of a billion+ messages.
With the help of AI, Haptik helps millions in their day to day tasks including me. It’s quick response and query solving capability is quite remarkable. It’s indeed a personal assistant.
Avaamo is another conversational startup that is currently serving six industries: Insurance, Financial Services, Healthcare, Telecommunications, Retail.
Founded in 2014, Avaamo has created a name for itself in around 40 countries now. Pretty impressive!
Avaamo specializes in conversational interfaces to solve specific, high impact problems in the enterprise. It uses AI to make conversational computing for the enterprise a reality.
Unlike the first generation conversational AI where a user could only pass commands like play music or open camera, Avaamo brings in second generation conversational AI experience that executes rich multi-turn conversations capable of handling queries in customer service, generating quotes in insurance, or answering claims inquiries in healthcare.
This AI startup will resonate with a lot of you. Healthcare is one domain where AI needs to make its mark. Progress has been slow due to various reasons but things have been looking promising in the last couple of years.
NIRAMAI stands for “Non-Invasive Risk Assessment with Machine Intelligence”. In Sanskrit, Niramai means being free from illness. It is a novel breast cancer screening solution.
Breast cancer is the leading cause of cancer death today in women.
According to WHO, one in every 12 women have the risk of a breast abnormality. Indian women have only about 50% chance of survival.
Niramai provides a cost-efficient way to detect breast cancer and is a better alternative to the existing method of mammography which requires a high capital cost. The major drawback of mammography is that it can be used only for women above 45 years of age because it cannot identify tumors effectively for younger women.
The core of the NIRAMAI solution is Thermalytix, a computer-aided diagnostic engine that is powered by Artificial Intelligence. Go through this link to know more about how Niramai uses AI for the early detection of cancer.
Doxper is another Indian AI startup working in the healthcare sector.
Have you ever seen hospital records? Keeping the records of patients is a hectic task – it is truly a formidable function. Doxper helps in simplifying the way healthcare data is recorded.
Doxper helps doctors, hospitals, and patients as well. It improves the doctor-patient interaction. Doxper aims to provide easy storage & retrieval, automated patient follow-ups, and auto data transcription.
When information is written using Doxper, it gets stored in the cloud and is automatically shared with the patient immediately. This helps in keeping the records safe and makes communicating with the patient really simple.
Hospitals can use it to immediately digitize Casualty/Emergency, OPD, and ICU. This can also be used in existing HIS systems through intuitive APIs.
This is one remarkable product helping the healthcare sector to digitize the records of their patients.
AI has left no stone untouched. It has found its niche in almost every sector, even the previously gigantic and manual logistics field. There are quite a few AI-powered logistics startups springing up and LogiNext is definitely among the leaders right now.
LogiNext helps in managing field services. It tracks and optimizes field agent movements in real time on a single map interface.
LogiNext helps organizations plan and manage the dispatch schedule, delivery routes and capacity in the most cost-optimized way.
It empowers its users by providing them the power to track (real-time) the shipment every single minute. It provides insights and visualizations based on predictive and big data analytics. Logistics analytics helps the user to accurately predict the future with algorithm-enabled location intelligence and optimize the logistics and field service management operations.
It provides every single detail right from pickup to delivery. It also provides complete field service management analytics.
The logistics and field workforce management solutions are fully automated, effective, secure and can be seamlessly integrated with multiple platforms providing complete logistics automation.
Another logistics startup in the list is Locus. Started back in 2015, the company provides facilities like route planning and optimizing, real-time fleet tracking, insights and analytics, and automated shipment sorting and rider allocation.
Locus.sh offers a number of features, including:
- Smart Geocoding: It converts the fuzziest addresses into precise geographical coordinates. This increases order delivery in fewer vehicles and reduces fuel costs
- Dispatch Overview: This feature allows you to visualize your plans on a screen in the post-planning session via three different metrics – geography, time & vehicle. This helps in visualizing the cluster forms and ensures a minimum overlap of routes
- Predictive alerts: It warns you in any kind of breach. This feature helps in keeping track of on-ground resources. You get instant alerts in case of any deviation from the planned route, undesignated halts, exceeding break times, etc.
- Live Tracking: Locus.sh’s system allows to share the dispatch details of the order with the customers. Current latitude and longitude, contact details of the driver, etc. are provided which result in improved customer engagement
- Enroute Analytics: This feature helps in comparing planned versus executed delivery routes. This also helps in analysing driver’s riding behaviour
AI in finance just intuitively makes sense. Finance is all about number crunching (well, almost!) and machines are well equipped at this point to work with numbers. It is a perfect match. So it’s no surprise that the FinTech sector has seen a massive surge in AI applications.
Rubique is one such FinTech startup that is contributing to making finance simple by using AI.Rubique wants to revolutionize the finance industry by introducing predictability. This helps its users to find the best match to his/her credit requirements with the help of an AI-based recommendation engine and Rubique’s financial matchmaking platform.
Rubique’s multi-sided lending platform provides features like e-KYC, bank statement analysis, credit bureau check, credit memo generation & MCA integration along with real-time application tracking to make it a paperless experience.
Rubique is doing a great job of providing top-notch solutions to the entire lending spectrum.
LendingKart is another brilliant startup tackling the financial sector by providing loans to small businesses. Spread over 1300+ cities, LendingKart is on its way to becoming one of the leading FinTech companies in the world. Here’s their official statement:
LENDINGKART Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows.
LendingKart has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness. They don’t focus on past records of the vendor. The main aim of LendingKart is to make capital funds available to help entrepreneurs focus on their business instead of worrying about cash-flow flaws.
Other Awesome AI Startups
The agriculture sector is synonymous with Indian values. It is an integral part of this country and what we are all about. So what can AI do to accelerate progress in this field? CropIn, a Bengaluru-based startup, provides a glimpse into the future of agriculture.
CropIn is a smart farming app that provides future-ready farming solutions to the entire sector. It is an intuitive, intelligent and self-evolving system. The company provides real-time solutions to predict trends, archive patterns and to make a blueprint for future businesses.CropIn has the capability of live reporting, and it also provides geographical analysis, interpretation, and insight. Data gathering through a smartphone app ensures efficient operations, lower costs and better visibility for your field agents at all times.
CropIn’s vision is to maximize per acre value and the mission is to make every farm traceable.
Real-time insights help to take planned and responsive business decisions. The predictability of quantity & quality of yield combined with a reduced cost of operations results in higher productivity for businesses.
Imagine an AI helping you perform online transactions end-to-end. Sounds too futurustic to be true. But here’s the good news – it’s already here!
Niki.ai is a virtual agent that does end-to-end online transactions for you in various domains. Everything from postpaid recharges to hotel bookings, Niki covers the length and breadth of it.
Niki uses AI to book and make payments after taking a few inputs from the users. This reduces the end-to-end interaction time of the customer and service provider and helps in providing fast and responsive services.
Booking movie tickets, household bills, bus booking, event booking, etc. – you name and it and Niki does it.
In this article, we saw some of the most amazing AI startups in India that are changing the way we live. This is in no way an exhaustive list. There are a LOT of AI startups springing up right now that bring their own unique brand to the table.
If you come across any other Indian AI-based startup which holds the capacity to make an impact and affect millions in a positive way, let me know in the comments section. Till then – keep learning!