As per McKinsey, generative AI is set to add up to $4.4 trillion value to the global economy, annually. The report further stated that between 2030 and 2060 half the world’s work will be automated and startups will have a huge role to play in that. Globally, there are only 259 generative AI startups, while India has less than 20 pure-play generative AI startups.
However, this is going to explode in the coming months as Indian startups experience a shift in funding from generative applications to infrastructure development within enterprises.
Here’s a list of top eight generative AI startups in India.
MachineHack
Based in Bengaluru, MachineHack was founded by Bhasker Gupta in 2021, alongside Krishna Rastogi (CTO). The company hosts generative AI competitions, courses, assessments and coding challenges and has built AI co-pilot for developers, offering guidance throughout their AI career journey.
Powered by GPT-4 and proprietary algorithms, MachineHack assists developers in improving their coding skills and also provides code recommendations and suggestions. The company recently launched a generative AI tool that offers data analysis on the go.
The platform also publishes insightful articles on generative AI, catering to the needs of a rapidly expanding community, which boasts the highest growth rate in the country.
Rephrase.ai
Founded by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla in 2019, Rephrase.ai has raised a total funding of $12.2 million in three funding rounds.
Rephrase.ai offers a video and animation creation solution that utilises advanced AI technology for visual dubbing. By employing generative AI tools, Rephrase.ai’s video creation technology learns the facial characteristics of people based on audio input, allowing for the creation of photorealistic faces for various texts or audio inputs.
This platform assists clients in producing training videos, customising sales videos, enabling characters to speak in AR/VR environments, and providing digital assistants with a lifelike appearance.
Mockey
Based in Lucknow, Mockey was founded in 2020 by Mofid Ansari and Pranay Agarwal and has raised a total funding of $890,000 in a single funding round. Mockey is an online mockup generator that utilises AI/ML technology and is available at no cost. With Mockey, users can effortlessly create impressive mock-ups for apparel, accessories, and a wide range of products, and conveniently download high-resolution photos suitable for any purpose.
By uploading designs in PNG or JPG format and utilizing transparent images, professional mockup images can be achieved. This platform enables the generation of high-quality, visually appealing product mockups for e-commerce stores or direct-to-consumer businesses, making it simple to create stunning mockups for on-demand brands.
Blend
Founded in 2022 by Vishwanath Kollapudi and Jamsheed Kamardeen, Blend is still in pre-seed stage with the latest round of funding in January 2022.
Blend utilises the power of generative AI to assist e-commerce sellers in effortlessly generating stunning product photos and marketing materials within a minute. By leveraging Blend’s technology, sellers can experience significant enhancements, such as a 20% improvement in the return on ad spend (ROAS) and higher conversion rates on their product pages.
ProbeAI
ProbeAI was founded in January 2023 by Abhisek Kumar Sahu, a former full-stack developer at Zomato.
Still in early access, ProbeAI serves as an AI Copilot designed specifically for data analysts. Its purpose is to assist analysts in various tasks, including generating SQL code, identifying relevant tables, optimising SQL code, and providing additional functionalities to streamline their workflow.
Revition
Ajay Verma, an MBA holder from Osmania University in Andhra Pradesh, founded Revition in early 2023 with two other individuals.
Revition isa company based in Hyderabad and claims to have developed the world’s first centralised system for customer support. Their platform offers a unified support interface, allowing consumers to instantly access support from companies using a single universal ID/Account and application. The system incorporates advanced AI automation tools to help businesses increase sales and reach.
Fasthr.AI
Fasthr.AI was founded in May 2023 by Yash Dandavate, Ashish Dogra, Neelu Virk, and Nilima Hemrajani.
Fasthr.AI, is a talent screening platform powered by GPT-4, claiming to be the most powerful solution at the intersection of generative AI and HR-tech. The platform has received an overwhelming response, with over 20 demos conducted for top enterprises on the first day, all through inbound inquiries without advertisements.
Fasthr.AI aims to revolutionise talent screening by offering effortless screening, accurate identification of top talent with 96% accuracy, faster position filling, and the ability to generate customised tests within seconds.
SVAYO
Founded by Deepak Thomas in 2019, SVAYO (legal name: Infinitied Labs Pvt Ltd) is a generative AI and social startup for beauty salons. The platform aims to transform personal grooming and styling services through the use of AI. It offers personalised recommendations and services tailored to the individual’s needs and preferences. The app provides inspiration from social content, highlighting trends in the user’s surroundings. Users can access a virtual stylist powered by AI, who recommends services and stylists based on trends that match their selfie.
The platform allows users to book salon appointments, pay bills online, and earn loyalty points. Additionally, users can be part of a community where they can receive styling tips for DIY experiences.
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