AI has been a game-changer in almost all global industrial aspects. Artificial intelligence has been the cornerstone for several businesses, both enterprises, and startups. Since the pandemic began and the world shifted to a remote working model, AI, IoT, and big data have been instrumental in enabling business continuity, helping companies pass through complex industrial crises, then recover and thrive. India is currently standing in a pivotal position to help businesses revive during the post-pandemic era. More and more Indian tech enthusiasts are joining the artificial intelligence domain and establishing robust AI startups. Now, these Indian AI startups have gained immense popularity, proving their enthusiasm and potential for innovation, hence, gaining themselves funding from top investors. Also, Several acquisitions are taking place in the AI field of India as it is growing to be the future of the country. In this article, we have listed the top Indian AI startup funding and acquisitions in 2022 so far.
Conversational engagement platform Gupshup has acquired Active.Ai, a conversational AI startup used by banks and fintech firms in all-cash deals. Gupshup said the acquisition would strengthen its customer experience solutions for banking, financial services, and insurance (BFSI) customers. However, Gupshup's spokesperson did not disclose the deal amount, only revealing that it was an all-cash deal.
According to reports, the company's valuation has now surpassed US$1 billion, as it recently earned the title of being a unicorn. With the latest investment of US$360 million from the private equity firm TPG Capital Asia, Fractal has become the second unicorn in India in 2022.
Enterprise tech unicorn Gupshup has acquired a 100% stake in conversational AI provider AskSid in an all-cash deal. According to Gupshup, the acquisition will strengthen its customer experience offerings and will help make its customers' shopping journey conversational.
Darwinbox has recently made up to the unicorns in the Analytics SaaS domain. The company specializes in producing HR management software for major companies and has become the first true local player to enter into the famed unicorn club with a valuation of over US$1 billion, starting in 2022 with a bang.
Automobile giant Maruti Suzuki has acquired a 12.5% stake in Bengaluru-based AI startup Sociograph Solutions Pvt Ltd for around INR 2 Cr. The investment was made through Maruti Suzuki's MAIL initiative that supports startups developing mobility solutions for the automotive industry, the carmaker said in a statement.
Lead is an ed-tech company that has raised US$100 million at a US$1.1 billion value. The company focuses on understanding the base of the students' learning and making sure that their life outcomes are as lucrative as they aspire to be. This has resulted in the strong adoption of Lead's AI-driven educational solutions and enabling widespread accessibility of education.
AiDash in February 2022, announced the acquisition of geospatial and AI (artificial intelligence) powered farming solutions provider Neurafarms.ai. With the acquisition of Neurafarms.ai, AiDash strengthens its product line and adds valuable talent to its team, according to a statement. The company did not disclose the size of the acquisition. Bhavesh Patidar, Neurafarms.ai co-founder and leader of the startup's data science innovations, would join the AiDash team, with a focus on strengthening its Disaster and Disruptions Management System (DDMS), which helps industries better manage disaster prediction, detection, and response.
AI startup Rephrase.ai has raised US$10.6 million in its Series A financing round led by Red Ventures. Silver Lake, 8VC, and other investors also have participated in the funding round. Rephrase.ai will use the fresh capital to improve capabilities by amalgamating product experiences and hiring across verticals such as engineering, AI, product, sales, and marketing. The startup will also deploy funds to expand its presence in North America.
Zopper built a platform for small- and medium-sized businesses, helping merchants with invoicing and payments through its point-of-sale platform. It sold that IP to PhonePe in mid-2018, but instead of joining the fintech giant, Zopper has been working on a new venture from a scratch and independent of PhonePe. That business, an API platform for insurance infrastructure, said on Tuesday it has raised US$75 million in new funding.
Data Sutram has received US$2.07 million from eminent investors such as Varanium Capital and Yatra Angel Network. It is a Mumbai-based location intelligent startup that offers sector-focused data packages to help enterprises acquire customers efficiently. It will use this funding on AI to scale up the operations at an international level and invest in new data sources.
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