This Start-up Offers Artificial Intelligence Solutions To Enhance Experiences, Aims To Tackle Analytics Challenge
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For most of us, But that does not mean lack of more intriguing products on the part of the start-up.
Who runs Mad Street Den (www.madstreetden.com): A core team of four including
Prior to starting his own venture, Anand joined a Palo Alto-based start-up called Evolved Machines, Inc., as a research scientist and developed various neural algorithms that could connect to real-world sensory perceptions like vision and smell. “As part of Evolved Machines, I was involved in another DARPA project called
There are three others in the core team – another co-founder who has some very useful experience in designing products that use the
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What inspired the venture: During his stint at Evolved Machines, Anand decided that he would work on AI projects of his own. So he worked as a
“Although building great AI is a good thing, we did realise that there were very few solutions in the market that would help create great
What’s the pitch: Making machines more useful by making them a bit more human: Fun, intelligent and relevant. They will sense as babies, observe and play as youngsters, learn and change with you as they grow older. In brief, the start-up aims to provide AI support across three categories of experiences – fun and play, usefulness & convenience, and helpful & revealing. “Someday in the near future, we hope to bring everyday objects to life, not just the devices we use today,” the site notes.
How it works: Mad Street Den is in the business of delivering artificial intelligence to the world – in varied formats and across industries. The primary product is a Cloud-based
“All these are in the pipeline and we intend to create more apps and new products by leveraging our own AI platform,” explains Anand. “That will further create new and wonderful experiences enhanced by our AI solutions and speak volumes about our quality.”
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Claim to fame: Novelty of concept and the tremendous potential are the key factors at this point. Very few
Show me the money: Till date, the start-up has been bootstrapped and has not started earning revenues. As of now, the
“As we have many potential
Although bootstrapped, Mad Street Den is not looking to raise funds just now. “We intend to work on our product pipeline first and come up with 1-3 more products by mid-2014,” says Anand. “Once we have the process in play and are getting considerable traction at consumer and enterprise levels, approaching investors will make sense. Also, we have gone past the incubation stage now. Neither are we limited to a single platform or product. Therefore, we will be looking at a very large angel round or maybe a small
Biggest challenge: Competition is always there as several companies are working in the AI space – both in India and abroad. But the field is vast and almost completely untapped; so there is space for everyone. “Currently, there’s no delivery model like our Cloud platform, especially in the vision space. So that gives us some competitive edge and we are building the rest of the USP,” concludes Anand.
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