Women entrepreneurs in the artificial intelligence domain

Artificial Intelligence (AI) is a household name. All around us, businesses are increasingly leveraging AI for a wide range of uses.

According to Allied Market Research, the global AI market size was valued at $65.48 billion in 2020, projected to reach $1,581.70 billion by 2030, growing at a CAGR of 38%.

However, when it comes to women in AI, a World Economic Forum report states that only 22% of AI professionals globally are female, compared to 78% male, which accounts for a gender gap of 72%. And there is ample room for growth.

Breaking barriers, these women entrepreneurs have leveraged AI to explore niche areas—from a dating app to an ecommerce accelerator and more—that can benefit from the power of technology.

Jyoti Joshi of Kroop AI

Jyoti Joshi, CEO and Co-founder of deep-tech startup Kroop AI, is an AI scientist with a PhD from the University of Canberra, Australia. In February 2021, Jyoti started Kroop with co-founders Sarthak Gupta and Milan Chaudhari.

Kroop AI helps startups and large organizations to generate audio-visual content fast, using an easy-to-access cloud-based studio and API. The startup’s technology provides accurate lip-sync while dubbing the content from one language to another.

It was one of the five Indian startups to pitch at the recently held Cannes Next—an executive conference and innovation-driven business development platform, exploring the future of the entertainment sector.

The company has received funding from 100X.VC and angel investors.

Priyanka Sehgal of Sparkles

Priyanka Sehgal launched Sparkles, an AI-based, experiential, hyper-personalized matchmaking platform, this year for the US market.

Sparkles is an AI-powered dating app aimed at fostering authentic connections and empowering singles to form meaningful relationships via shared experiences.

A career spanning 20 years, Priyanka has worked in TV and digital media in strategy, product, growth, monetisation, content, programming, and partnerships in major media enterprises like Network 18, Times Television Network, and NDTV.

According to her, Sparkles uses AI to hyper-personalize matchmaking. Priyanka says, “At every step, there’s assistance. Users select what they are looking for; we call them Moods. They can select their partner preferences and the kind of experiences they would want in that mood.”

She explains, “As their selections aren’t displayed on their profile, users are more honest about what they want. They see a compatibility score, their match’s pictures and bio, and can use any four swipes, and the ability to redo swipes to set expectations right. This removes ambiguity as most users know what the other person wants from them and also leads to clarity of intent.”

Self-funded by Priyanka, Sparkles has also received $125,000 in funding from a friend and family.

Mayurakshi Das of Elixir AI

A first-generation entrepreneur, Mayurakshi Das founded Elixir AI, a proprietary artificial intelligence-enabled technology solutions startup, in 2015. The company leverages geospatial techniques and intelligence like satellite imagery and next-gen algorithms and provides a digital infrastructure for various projects. .

Mayurakshi grew up in Pune and worked as an investment banker at HSBC, London, after completing her master’s in banking, finance, and operations.

In 2005, a US-based entrepreneur asked her if she would like to take the lead as a founding employee to start operations in India, and Mayurakshi did not think twice before moving back to Pune.

Elixir AI offers various digital and technological interventions required for the operations of state government. It includes working with the Pune Municipal Corporation to generate up to Rs 100 crore of additional revenue by helping them identify buildings not included in the property tax database.

Having bootstrapped with little to no capital, Mayurakshi believes that achieving financial stability for employees is a milestone for her.

She says, “Our competitors are on every kind of social media, but the revenue is not there. I am proud to be at a place where I have three contracts and a team of 15 members who get paid on the first of every month.”

Somdutta Singh of Assiduous Global Inc.

Somdutta Singh launched Assiduus Global Inc., an AI-powered cross-border ecommerce accelerator, to help direct-to-consumer (D2C) brands launch, scale, and grow across ecommerce marketplaces and geographies.

The startup enables D2C brands’ digital commerce through end-to-end distribution and supply chain management.

According to Somdutta, she realized cross-border growth was a huge challenge that people needed to sort out, and selling online was not an easy task.

“There are multiple nuances attached to the process—understanding ranking, deciphering user data, analyzing pricing, consumer behavior, keywords, and listing automation,” she says.

Through Assiduous, Somdutta focuses on brand centricity and cross-border driven on data and intelligence.

The Bengaluru-based startup is seed funded by BC Partners, Kratzel Partners, and other notable HNIs. It has offices in Delaware in the US and Dubai, UAE.

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