Global talent investor Entrepreneur First (EF) announced a pre-seed investment in eight tech startups in India
Global talent investor Entrepreneur First (EF), announced a pre-seed investment of $440,000 in eight tech startups from its fourth cohort in India.
As part of the company’s Demo Day, Entrepreneur First introduced these eight innovative startups that use new-age technologies such as machine learning (ML), artificial intelligence (AI), robotics, and virtual reality (VR) to top early-stage investors in the country for their next round of funding.
Fello is a fintech startup that uses its proprietary games to turn Gen-Z gamers into financial investors.
This startup uses neural computing technology. It uses proprietary, ultra-compact Edge AI models on resource-starved edge devices to provide scalable multi-sensory intelligence that is 10x faster and 1000x cheaper than cloud AI-based solutions.
This is a life sciences (biotech) startup that uses AI to transform antibody discovery and therapeutics. To expand globally, their full-stack platform predicts the best therapeutic antibody candidates, saving time by 60 percent and money by 50 percent, and doubling the efficiency.
Expertia is a platform-independent job and candidate recommendation engine for SMEs, that uses Deep Learning, Natural language processing (NLP), and Explainable AI to predict the suitable candidate for SMEs with an accuracy rate of 90 percent and at one-tenth of the cost.
UngearVR has brought VR-like immersive experiences to laptops and TVs without the requirement of any specialized VR gear. With the help of their proprietary advanced computer vision algorithms, they produce all the elements of a high-level VR headset experience without a VR headset, and in real-time.
It is a robotics startup focused on “Goods to Person (G2P)” warehouse automation, which is strongly needed by online commerce players to fulfill the needs of their customers. Rightbot’s plug-and-play G2P robotic solution is compatible with existing flooring, racking, shelving, and 10x faster deployment with negligible installation capex, and generates 3x higher ROI.
NeuropixeI is a deeptech startup focused on apparel cataloging, which is one of the most recurring tasks that any fashion retailer/e-commerce platform has to undertake daily. NeuroPixel’s proprietary DeepNet framework not just simplifies this process, but also makes it cost-effective.
Aspiro is a voice AI-driven sales coaching SaaS solution. Equipped with Aspiro’s personalized sales platform, it helps sales leaders to onboard and train their sales force continuously, in a fully automated manner.
Esha Tiwary, General Manager, India at Entrepreneur First said, “The founders at EF India are pushing the boundaries of how technology can be leveraged to solve real-world problems. And the fourth cohort is no different — from smart recruitment for SMEs to AI-driven automated apparel cataloging to revolutionising antibody discovery and immersive experiences, these startups show are well poised to disrupt their industries,”
“Despite the global challenges posed by the COVID-19 pandemic, we are seeing a steady influx of aspiring Indian entrepreneurs keen to build their dream tech startups. EF provides the best platform to connect brilliant minds in tech to the best minds in business, together with the right mentorship and financial backing,” she added.
According to the press release, for each cohort, Entrepreneur First selects around 50 potential founders and helps them to find co-founders among themselves. EF invests pre-seed in the selected startups and the founders then move to the second stage of the programme, which involves creating the product, expanding the team, and positioning with early customers.
When the founders are ready, they meet early-stage investors for their next round of funding.
EF claims to have witnessed a 100 percent rise in applications received since it first launched in India. While the first cohort had 800 applications, it grew to 1,800 for the latest cohort.