Industrial AI enterprise Detect Technologies raises $28M in funding

Detect Technologies, an AI-based SaaS startup, has raised US$28 million in a primary and secondary funding round led by Prosus Ventures, with participation from existing investors Accel and Elevation Capital. Other existing investors in the round included Shell Ventures, Bharat Innovation Fund, and Bluehill Capital. The startup was founded in 2013 by Daniel Raj David, Harikrishnan A.S., Tarun Mishra, and Karthik Rajasekaran. Detect Technologies is a cloud-based AI-powered enterprise tech SaaS startup that provides intelligence to industries for mitigating high-consequence risks. The platform has built a large library of AI…

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AI21 Labs raises $64M to help it compete against OpenAI

AI21 Labs has raised $64 million in funding to compete with OpenAI and other NLP leaders. NLP (Natural Language Processing) competition is heating up. With its GPT-3 model, OpenAI is now regarded as the industry leader, although competitors are gaining traction. AI21 Labs is regarded as one of the most promising candidates by investors. “We completed this round during a period of market uncertainty, which highlights the confidence our investors have in AI21’s vision to change the way people consume and produce information,” said Ori Goshen, Co-Founder and Co-CEO of…

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Top 5 innovative AI startups

In the international AI race, India has been one of the most dominant countries. The Indian government is providing millions of dollars in funding to AI start-ups. These AI start-ups in India are focused on developing new products and services to boost productivity and income in the domestic market. Let’s look at the top five innovative Indian AI start-ups. Avaamo Avaamo, a conversational AI platform, is one of the most innovative Indian AI start-ups in 2022. With Voice demo—patient scheduling, it provides immediate and personalised assistance to patients in the healthcare,…

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Biotech startup String Bio raises $20 million

String Bio announced on Monday that it has received a $20 million investment from Woodside Energy Group, Ankur Capital, Dare Ventures, Redstart, and Zenfold Ventures. String Bio also announced in a statement that it has signed a strategic development agreement with Woodside Energy Technologies Pty Ltd, a wholly-owned subsidiary of Woodside Energy Group, for the production of sustainable protein ingredients from greenhouse gases. The company uses advances in biology, fermentation technology, chemistry, and process engineering to convert methane energy into a variety of value-added products. Products enabled by String’s platform…

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HSI launches third edition of its startup incubator program

Humane Society International/India has announced the third edition of its annual Humane Entrepreneurship program, which is aimed at social entrepreneurs with early-stage startups focusing on animal welfare and environmental issues. The Humane Entrepreneurship Program provides early-stage funding to pioneering innovators in the fields of new plant-based, fermentation-based, and cell-based proteins, next-generation materials that replace animal products, and non-animal testing methodologies. The 6-month virtual program, which will be launched in September 2020, accelerates the growth of social entrepreneurs in India by providing selected participants with a holistic ecosystem of global mentors, expert…

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Sportstech startup Hudle raises $1M in funding

Hudle, a sports tech startup based in Delhi, has raised $1 million in a Series A round led by Inflection Point Ventures, with participation from existing investors Survam Partners and Indian Angel Network. Hudle, which debuted in 2018, is a mobile app that allows sports enthusiasts to discover and book sports activities. The startup currently allows users to book a variety of 30+ sports at 700+ venues across the country, as well as All Access Passes, which are sport-specific subscriptions that allow players to play their preferred sport across India…

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UST announces ‘strategic investment’ in Israeli health-tech start-up

UST, a leading provider of digital transformation solutions, has announced a strategic investment in Well-Beat, an Israeli start-up focused on patient-centered behavioral artificial intelligence (AI). This will hasten UST’s adoption of emerging tech solutions in healthcare and the transformation of lives through the power of technology, according to a company spokesperson. UST and Well-Beat collaborated to develop a digital patient engagement Software as a Service (SaaS) solution that dynamically adapts to each patient over time, provides personalized conversational guidelines to clinicians, provides customized prompts shaped by the patient profile, and…

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Google launches Startup School India for early-stage products

Google has launched Startup School India, a Google for Startups initiative designed to organize startup knowledge into a structured curriculum and deliver it across a broad footprint. The nine-week virtual program will include fireside chats with Google leaders and collaborators from the startup ecosystem, including fintech, direct-to-consumer (D2C), B2B and B2C e-commerce, language, social media & networking, and job search. The curriculum will include instructional modules on topics such as developing an effective product strategy, diving deep into product user value, road mapping and PRD development, developing apps for the…

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AI adoption to add $500 billion to India’s GDP by 2025

An integrated adoption of artificial intelligence (AI) and data utilization strategy can add $500 billion to India’s GDP by 2025, suggests a report by the National Association of Software and Services Companies (NASSCOM) The IT industry association launched the ‘AI Adoption Index‘ for India, which assesses AI adoption trends in four important sectors: banking and finance, consumer products and retail, healthcare, and industrial and automotive. These industries might account for roughly 60% of AI’s potential value addition of $450-500 billion to the country’s GDP by 2025. “AI’s ability to transition…

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Iron Pillar to raise $400 million to empower Indian tech startups

Iron Pillar, a leading investment company that supports Indian digital entrepreneurs, is reportedly raising around $400 million to assist enhance the country’s startup ecosystem, according to media reports on Monday. Iron Pillar provides growth finance to Indian entrepreneurs looking to expand globally. According to insiders, the VC firm is in advanced talks with limited partners (LPs) to raise approximately $400 million in its second fund. FreshToHome, Uniphore, Curefoods, and other firms are among those in the VC firm’s portfolio. According to a recent Iron Pillar assessment, India is on track…

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