The Indian artificial intelligence (AI) startup, AI4Bharat researchers have successfully raised a substantial $12 million in funding from venture capital firms Peak XV and Lightspeed. This significant investment will focus on empowering the researchers to establish their own firm, propelling AI innovation and research in India to new heights.
Commenting on the funding raises, Founder, A14Bharat, Dr Pratyush Kumar, said, “AI is one of the defining technologies of this age. However, much of the research in AI today is driven by the problems of the West. For instance, building autonomous cars takes priority over building systems that can monitor the condition of rural roads.”
He further added, “We need to change this by shifting the focus to India. This is where domain experts and the government would play an important role, to identify problems that are unique to India and can benefit from AI.”
Founder Dr Mitesh M Khapra said, “To solve such problems, it is important to move AI research and development out of silos and create a platform where AI professionals can come together to design and build impactful solutions. With this in mind, our immediate goal is to create a community of 100 selected AI experts and 50 domain experts.”
The Tamil Nadu, Madras based AI4Bharat was founded in 2019 by Dr Mitesh M Khapra and Dr Pratyush Kumar. The startup has been in the forefront of utilizing AI technology to solve complex challenges specific to India, and it helps AI to build solutions to addresses local concerns in the agriculture sector, and healthcare sector among other industries. The startup is dedicated to focus on advancing in AI technology while ensuring its accessibility to India’s diverse population.
Peak XV, a venture capital firm, recognized the immense potential of AI4Bharat’s work and decided to support their vision.
Further, the $12 million investment will be utilized to establish a new firm led by the AI4Bharat researchers. The funds raised will not only fuel the growth of AI4Bharat’s researchers but will also inspire and encourage other innovators and startups in the Indian AI landscape.
