10 Indian AI Startups You Need to Keep an Eye On

where is it that a team from India you know  three super smart Engineers with you know not 100   million but let's say 10 million could actually  build something truly substantial we're gonna   tell you it's totally hopeless to compete with us  on training Foundation models you shouldn't try   and it's your job to like try anyway I think it  I think it is pretty hopeless but reading between   the lines here what Sam Altman was saying was that  without huge amounts of capital India just can't   compete with open AI but this actually lit a fire  beneath Indian entrepreneurs specifically when   Sam said you should try anyway because if there's  one thing that India is great at it's proving the   rest of the world wrong in fact early on in 2023  Bill Gates published a blog post on India saying   India has proven it can tackle big challenges the  country eradicated polio lowered HIV transmission   reduced poverty cut infant mortality and increased  access to sanitation and financial services but   Indians don't need the validation of Bill Gates  to tell them that their country is moving in the   right direction if you've been living in India  for the last couple of years like I have I've   been here for the last six years I've seen so much  development and positive Improvement in that time   span and if you're in India watching this video  right now you've probably seen it happen before   your eyes too it's incredible a great example  of this is India's rapid increase in Internet   penetration over the last couple of years and  what this means for the banking sector through   initiatives like other digital India UPI and of  course extremely affordable mobile connectivity   thanks to Geo India has become in just the last  couple of years a country that the rest of the   world looks up to for inspiration on how to  increase Financial inclusion and Implement   digital payments so when Sam Altman says I think  it's pretty hopeless he clearly doesn't know which   country he's talking about from colonized to free  from nationalized to privatized from offline to   online from motorized to Electric India has come  an incredibly long way in a very short span of   time but how will India fare during this next  big transition from natural human intelligence   to artificial intelligence well in response  to Sam's statement CP Gurnani who is the CEO   of tech Mahindra said challenge accepted he went  on to explain that Tech mahindra's AI think tank   is in action trying to apply human and machine  intelligence to boost Innovation and transform   India of course what's happening in the business  and Tech world of India is very different from   what's happening in the education world of India  for the time being India's education system is   not preparing young people for the realities  of an ai-powered future classrooms are still   firmly rooted in the past with rote memorization  being just as high a priority today as it was back   when the public internet came to India back in the  90s while schools are falling behind entrepreneurs   in India are rising to the challenge and even  amidst a funding winter there are more and more   AI startups popping up every single day from  680 million dollars in 2022 India's AI Market   size is expected to grow to 4 billion dollars by  2028 that's a more than 5.7 X increase which is   admittedly a fraction of the American AI market  today and also in five years when the American   AI Market is projected to cross a hundred billion  dollars in value but I wouldn't be surprised if   India ends up shocking the rest of the world yet  again with how quickly it can adopt and indigenize   this new technology so in this video we're going  to be taking a look at 10 Indian AI startups that   you've probably never heard of but definitely  need to be keeping an eye on and the first one   that I want to talk about today is Goodmeeting  this company has an incredibly self-explanatory   name and they definitely deliver on This Promise  of making sure that companies have good meetings   with their customers by automatically recording  and transcribing video meetings and organizing   them in an easily searchable Library using  generative AI good meetings generates meeting   summary so that employees don't need to manually  take notes while the meeting is happening and   the platform also makes suggestions on meeting  topics that can be acted on apart from this good   meetings also curates a reel of key moments from  the meeting so that teams can quickly skim through   and find the most important parts later on and  for the time being good meetings is specifically   oriented towards sales and customer success calls  but I would also encourage the folks over at good   meetings if you're watching this video to possibly  consider creating something for non-customer use   cases so there's just tons of companies out there  that do regular meetings and they do it over video   call and they would love a platform like good  meetings to transcribe record and also provide   insights on the meetings that they're doing so  that they can improve them going forward good   meetings is based in Bengaluru and was founded  in 2020 and so far the they raised 1.7 million   dollars as part of their pre-series a round LED  by charity Ventures moving into number two now we   have another very straightforwardly named company  stable diffusion API and basically what these guys   are building is stable diffusion as a service  so you can generate images using hundreds and   hundreds of different models and it's completely  free seriously there's no credit card required   you don't have to pay a single rupee before you  generate these images and there's also no limit   to the number of images that you can generate  either but the free version does take a little bit   of time to generate these images because you're  not getting Priority Access to stable diffusion   api's gpus which are all located in Bengaluru by  the way but if you are a power user then they also   have paid plans too so you can get your images  generated as quickly as possible and they also   offer enterprise Solutions too with dedicated gpus  and servers for complete privacy and Limitless   image and video generation and by the way they  also offer text to speech AI as well check it out   take a listen because this audio is a end of human  spark and if my magic brought to you by melodylabs   it's like a peek into tomorrow's Symphony  right in your ear you can find a link to   their text-to-speech platform melodylab.ai in  the description down below and I'll hit Yoshi   the founder of stable diffusion API is actually  a friend of mine he started this company as   a one-man team in the tier 3 city of baton in  Gujarat and that's actually where he was living   when I met him now though his bootstrap startup  is generating hundreds of thousands of dollars   in profit each month and they've also shifted  their headquarters to Bengaluru all right next up   this is another B2B AI solution but what they're  building is pretty interesting so one thing that a   lot of companies struggle with is hiring and also  employ attrition basically retaining employees is   really difficult because when it comes down to  it a big part of why employees join and stay at   companies is money but how do companies decide  how much to offer well the reality honestly is   that oftentimes it's a lot of guesswork and trial  and error hiring teams will just offer x amount   and if they're not able to hire the right kinds of  people at that number then they'll increase it and   also it's 2023 free so the culture right now is  that even once a company hires an employee there's   really no guarantee that that employee will stay  there for long they might choose to leave after   one year or maybe even six months if they don't  feel like they're being appreciated financially   and so how do companies know how much to offer  when they promote these employees sometimes a   two or three thousand rupee pay increase for a  promotion is more insulting than beneficial so   this is where higherstar comes into the picture  there are AI platform uses real-time industry   and internal company data to accurately provide  Fair competitive pay bans for employee hiring and   promotion and they can also predict offer declines  based on the compensation a company is planning to   offer these guys were part of YC's summer 2022  badge they're based in Bengaluru and in February   of 2023 they raised 2.5 million dollars in a  seed round LED by Y combinator and binibunzel's   three-state capital moving on to our next AI  startup 8X is a computer vision startup that's   enabling restaurants to speed things up as we all  know there's nothing more frustrating than waiting   for food for ridiculous amounts of time at a  restaurant but this is also pretty common and some   of the most successful restaurants in the world  have solved this problem flawlessly so for example   if you've ever seen the movie the founder then  you know how McDonald's was able to organize its   kitchens and optimize for Speed over everything  else and this was back in the 1950s but today with   the power of AI edex is bringing the same level  of speed and efficiency to restaurant kitchens   with their ai's top-down view of restaurant staff  Behavior they can see if staff are using the right   ingredients and also track employee speed and  productivity this is a bangalore-based company   founded by serial entrepreneur and ayati Madras  drop out Sandeep m in 2022 alright next up this   one popped up on my radar because this startup is  actually part of Google for startups accelerator   in India in 2023 vitra.ai they're a bengalodel  based creator-oriented startup that transcribes   and translates videos into other languages and  as a Creator myself I think it's easier if I just   show you what I'm talking about let you listen to  the AI technology that these guys have created so and the amazing thing is that this platform  doesn't just do Indian languages so with vitra   you can translate your videos into pretty  much any language that's out there from the   top here you can see Afrikaans Amharic Arabic  Bangla Bengali I mean the list here is really   really long there's more than 75 languages here  moving on to the next AI company on this list   we actually have a startup created by Paras  Chopra who is a seasoned saspreneur he's the   founder of wingify along with a number of other  companies and now he's building a Discord based   AI personal assistant to help you crush your  goals and it's called ninty so the way that   this works is actually really interesting because  they've trained their AI on thousands of podcasts   using this database ninty is able to coach  you through the challenges of life when it   comes to health wealth and wisdom the startup  which is a remote team of people working out of   India has raised 2.5 million dollars so far from  VCS and Angel Investors next up we have a shovel   company what do I mean by that well while most  AI companies are building products and services   right now in other words they're trying to dig  gold out of the ground during this AI Gold Rush   machine hack generative AI is selling shovels for  all of the people digging this startup which is   based in Bengaluru has built a platform to fill  the Gap left by India's education system which   isn't preparing young people for the AI future  that we're going to be living in and so what   machine hack generative AI is doing is they're  hosting AI competitions hackathons and courses   they also have an Enterprise offering wherein they  help large companies to hire people directly from   their platform because they have all of the data  of their user skill level so they're actually   able to recommend the right candidates for each  Enterprise client now apart from helping people   to learn more about Ai and getting better at using  it or getting hired for it machine hack has also   built a product datalized which anybody can use  to explore and analyze large data sets with the   help of AI oh and also their logo is a space  monkey with a spear gun so there's that as well   alright now moving on to our next AI company  here they're taking the age-old tradition of   celebrities selling their image to companies in  exchange for profit and they're revolutionizing   it with AI oftentimes celebrities Really Don't  Care What They're promoting they just let some   photographers take pictures of them in a  studio and then they make tons of money   because their image of themselves goes up next  to a product on the side of the expressway or   on a television set so what if they could do the  same exact thing but reach way more people in an   extremely personalized way well that is exactly  what rephrase dot AI is offering take a look is different versions of the same ad with local  store names were targeted as per the PIN   code of the viewer so basically using deep fake  technology and AI audio generation they're able   to create customized targeted ads for consumers  across social media using a single video of a   celebrity they've done this work now with Brands  like Johnson and Johnson Nivea Raymond Microsoft   PWC and of course Cadbury as you just saw these  guys are based in Bengaluru the company started   in 2018 and so far they've raised 12 million  dollars including a 10.6 million dollar series   a in 2022 alright next up we have a company that  we've already featured here at backstage with   millionaires before you might have heard of them  mine is zero they've created India's first fully   autonomous vehicle z-pod which admittedly is a  technology showcase and it's very unlikely that   we'll see these pods in actual production and  on the roads of India anytime soon and that's   not really the company's strategy anyways it's  very likely that minus zero was in the process   of raising funds right now because currently  they don't have a source of Revenue their last   fundraise was 1.7 million dollars back in 2022  and they'll definitely need a fresh infusion of   capital to continue and of course also we are in  the middle of a funding winter right now but if   they're able to raise a pre-series A or series  a round I can definitely see minus zero being   the leader in India's autonomous driving space  for years to come so we actually sat down with   one of the co-founders of this company gagandeep  and if you want to watch the podcast where I talk   about the entire story of the company with him  you can find a link to it up here all right now   let's move on to the last company in this list  and up until this point this list hasn't really   been sorted in terms of best to worst or worst to  best but this last company is definitely worthy of   admiration recognition and your attention this  startup is called Korea and the best way that   I can explain what they're doing is to First  lay out the problem that they're solving so AI   as we know is built on data and data sets so AI  needs information to be trained on and to learn   from and in 2023 data is extremely valuable it's  basically like digital gold and Korea is in the   business of collecting that data and selling it to  big companies now this Market the global AI data   space is projected to be worth about 17 billion  dollars by 2030 and karya is capturing a chunk   of that market for itself Health by asking people  living in rural India to speak into their phones   so the way that this works is that the Korea  app shows users text in their native language   and then it pays them when they record audio clips  of them speaking that text and then this data is   sold to companies who want to train their AI on  these Regional languages now the amount of money   that these workers these users of this app are  able to earn per hour from this app might seem   small it's only about 400 rupees but do keep  in mind here that these are people living in   villages and small towns basically tier 3 4  and Beyond so 400 rupees can actually make a   meaningful difference in their lives and there is  a upper limit to how much they can earn through   the app so the maximum a worker can earn is  1.24 lakh rupees over multiple days of work   but that's a lot of money for just sitting and  speaking into your phone instead of having to   do back-breaking labor and the other awesome thing  that karia does for these workers is it gives them   ownership over the data that they give to karia  so every time that that data is sold and resold   the companies those workers get 100 of the revenue  generated from that sale guardia's clients include   ayati Madras the Bill and Melinda Gates Foundation  Microsoft MIT and Stanford and they're currently   building voice data sets in Canada Marathi Telugu  Hindi Bengali and Malayalam Korea was founded in   2021 they're based in Bengaluru and so far they've  paid out 6.5 crore rupees in wages to more than 30   000 people in rural India now I left this for the  end they're actually a non-profit so they're not   a business in the traditional sense they're doing  this mainly to help people in rural India and they   do cover their costs with some of the revenue  that they generate but everything else goes to   helping the people that are working with this  app but I think it's incredible that people are   using AI for these kinds of use cases to actually  help people in need and we need more people like   that so I left it for the end thank you so much  for watching and I will see you in the next one

Channel: Backstage with Millionaires

Views: 1,120,810

Keywords: AI, Startup, India, artificial intelligence, EV, Business, Money

Id: LfDRCktozmk

Length: 15min 19sec (919 seconds)

Published: Thu Aug 10 2023