Ajith Sahasranamam, a computational neuroscience Ph.D. graduate, founded Ongil.AI in Chennai in response to the challenges in manual data processing faced by businesses
Company Overview: Ongil.AI specializes in providing AI-driven solutions to businesses, focusing on streamlining analytics tasks and enhancing decision-making processes. The platform aims to significantly reduce the time and resources required for data collection and analysis, making AI more accessible and beneficial across various sectors.
Key Features:
- Efficiency Improvement: Ongil.AI claims to improve efficiency by up to 95%, offering real-time visualization and predictive analytics.
- Democratizing AI: The platform seeks to democratize AI by reducing reliance on extensive computational power, making it adaptable for various sectors.
- Advanced Technologies: Ongil.AI incorporates natural language processing, deep learning, optimization algorithms, causal modeling, and probabilistic programming. It also explores spiking neuron model-driven neural networks for adaptability and reduced computational demands.
Partnerships and Impact: Ongil.AI has partnered with major enterprises, including Unilever, 3M, ABInbev, and Hello Travel. Collaborations demonstrated substantial improvements in data harmonization efficiency and time to insights. For instance, Unilever experienced a 7X increase in data harmonization efficiency, while ABInbev saw a reduction in time to insights from three days to less than five minutes.
Revenue Model: Ongil.AI operates on a monthly subscription model, offering additional features such as prediction, what-if analysis, and sentiment analysis for an extra fee. Customizations for clients with specific requirements are charged separately.
Financial Overview: As of now, Ongil.AI has not raised external funding but is actively seeking venture capital investment to fuel expansion. The startup reported an annual revenue of $210,000 in the last fiscal year and projects closing revenue of $300,000 for the current year.
Indian AI Market Landscape: The AI market in India has reached over $4.1 billion, with a notable focus on machine learning, robotics, artificial neural networks, and Natural Language Processing (NLP). Government initiatives and foreign investments are contributing to India’s position as a hub for advanced AI and IoT technologies. The AI market in India is expected to reach $7.8 billion by 2025, growing at a CAGR of 20.2%, with AI playing a crucial role in education and addressing societal challenges.
Ongil.AI’s innovative approach to AI-driven analytics positions it as a key player in the evolving Indian AI landscape, aiming to empower businesses with efficient and accessible solutions.