I’m very sure a majority of you didn’t even knew such a startup existed in India (neither did I before reading about it). MAD Street Den, a startup specializing in providing AI, vision and analytics solutions to businesses and based in Chennai, raised the amount from Reservoir Investments’ Exfinity Fund and GrowX ventures.
Started by Neuroscientist-Designer couple Anand Chandrasekaran and Ashwini Asokan, MAD Stree tDen, offers an easy to use API for managing e-commerce, data analysis and also offers ready to use AI and computer vision products through its cloud based API, called MAD Stack. In fact the company’s trump card is a ‘visual search engine’ for searching fabrics over online retailers’ portals. It also offers solutions for Online Fashion, Mobile Gaming, User Engagement & Analytics, IOT & Connected Cars and Photos & Social Media, according to its website.
So how exactly do their tools help businesses anyway? MAD Street Den helps to perform all sorts of analysis too when the users use applications that user their tools. So, it helps the firms making those tool gain meaningful insight about the product. Take User Engagement for example. It helps collect data about what the user watches, how he watches and reacts to what he’s watching. So say a cable operator an ‘precisely’ get to know what content is worthy of getting streamed and what’s not.
[quote_box_center author=”Aswini Ashokan, CEO, MAD Street Den”]
People have asked us over and over again, why come back to India to do AI. The answer is simple – the consumer market here is exploding. Take e-commerce, mobile gaming, mobile advertising. New behaviors with tech just emerging. That’s a great time to bring new tech like AI and computer vision into the game. We’re hoping to catch an audience that’s essentially leapfrogged tech that the rest of the world went through step by step. And the interest we’re getting from companies is hopefully proof of that.
[quote_box_center author=”Anand Chandrasekaran, CTO, MAD Street Den”]There are 2 ways we could have pursued this dream. It was either incrementally build out capabilities based on the market, or do what I’ve done for a decade – stay in the worlds academic labs, build strong AI with my background as a Neuroscientist and then find a fit for it. We ended up choosing the former – with Ashwini’s background in user centric product design, it almost didn’t make sense for us to not come together, use our strengths to bring this to the market now.[/quote_box_center]
So, their primary drive is to help AI, analysis make a more meaningful impact on users’ daily lives in the Indian market, which is currently booming and adopting new technology at a faster rate.