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Deep-tech startups in India that have embarked on their GenAI journey are building solutions across diverse areas such as finance, AI cloud, video streaming, fashion, healthcare, and other SaaS applications, and are taking their products to the global markets . ET spotlights India’s ten buzzy AI startups, which are at various stages of growth, highlighting their vision and the hurdles they face along the way:Startup: Spotdraft
Founders: Shashank Bijapur, Rohith Salim, Madhav Bhagat
Year: 2017
What are they building? AI-powered contract life management
Key challenge: Competition from AI companies changing customer interactions
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Total funding: $45 million Valuation: $136 million
Key investors: Premji Invest, Arkam Ventures, 021 Capital
Startup: Neysa Networks
Founders: Sharad Sanghi, Anindya Das
Year: 2023
What are they building? AI infrastructure and cloud platform
Key challenge: Sustainable GPU/model consumption for evolving use-cases
Total funding: $50 million
Valuation: $76.8 million
Key investors: Z47, Nexus Venture Partners, Blume Ventures
Startup: Myelin Foundry
Founders: Gopichand Katragadda, Ganesh Suryanarayanan
Year: 2019
What are they building? Add AI intelligence to edge devices
Key challenge: Running AI algorithms on small compute
Total funding: $10.7 million
Valuation: $19 million
Key investors: Endiya Partners, Pratithi Investment trust, Beyond Next Ventures
Startup: OnFinance
Founders: Anuj Srivastava, Priyesh Srivastava
Year: 2022
What are they building? AI agent Compliance software
Key challenge: Longer sales cycle
Total funding: $1.05 million
Valuation: $3.75 million
Key investors: Indian Angel Network, Silverneedle Ventures, LetsVenture, Kunal Shah
Startup: NeuroPixel
Founders: Arvind Venugopal Nair, Amritendu Mukherjee
Year: 2020
What are they building? Synthetic image/video generation in fashion/e-commerce
Key challenge: Competition from startups and large players
Total funding: $1.28 million
Valuation: $5.81 million
Key investors: Flipkart, Entrepreneur First, Beacon Trusteeship
Startup: Figr
Founders: Moksh Garg, Chirag Singla
Year: 2023
What are they building? GenAI tool to automate product design
Key challenge: Competition from global startups
Total funding: $2.5 million
Valuation: $5.81 million
Key investors: Kalaari Capital, Antler, Golden Sparrow
Startup: Beatoven. ai
Founders: Mansoor Rahmat Khan, Siddharth Bharadwaj
Year: 2021
What are they building? AI music generation platform
Key challenge: Copyright lawsuits from artists
Total funding: $2.42 million
Valuation: $8.27 million
Key investors: Capital 2B, IvyCap Ventures, Entrepreneur First
Startup: Artivatic. ai
Founders: Layak Singh
Year: 2018
What are they building? API-first platform for insure-tech and health-tech
Key challenge: Data collection for building accurate algorithms
Total funding: $2 million
Valuation: $10 million
Key investors: KFintech, Indian Angel Network, SenseAI Ventures
Startup: Docket Run
Founders: Ajay Kabadi, Shweta Shettar
Year: 2019
What are they building? AIoT solutions worker’s safety at heavy industries
Key challenge: Operating from tier-II city
Total funding: $64,112
Valuation: NA
Key investors: Bootstrapped
Startup: GoCodeo
Founders: Meghana Jagadeesh, Jatin Garg
Year: 2023
What are they building? No-code platform to develop software code using natural language prompts
Key challenge: Competition from popular coding assistants
Total funding: $150,000
Valuation: $1 million
Key investors: 100X VC
Source: Tracxn, Nasscom GenAI foundry list
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