IAN invests in AI-based research venture Staqu

Indian Angel Network (IAN), which is India’s first and world’s largest angel investor network, has invested an undisclosed amount in Staqu, a Gurgaon-based research start-up focused on Artificial Intelligence (AI), working in automated image understanding technology.

On behalf of IAN, it was Bikky Khosla, Neeraj Singal and Ajay Gupta who led the funding round, which as per sources will be used to further build technology and build up the team. Khosla would also be joining the Staqu board.

Founded in 2015, Staqu’s core team includes researchers and engineers.

“We plan to invest this round to expand the computational strength of our VGrep Lab (AI research lab at Staqu) and fuel it with clusters of GPUs and other technical resources. Currently, we are applying our research to solve pressing problems in the e-commerce sector. In the near future, we are planning on use it to address issues across other market segments, too. Throughout the funding process, our ideas were constantly cross-questioned, which helped us set a clear vision and goals,” said Atul Rai, co-founder and CEO said.

Staqu uses AI and engineering for image processing, deep learning, computer vision, NLP and overall improvement of users’ daily mobile experience.

“IAN is extremely excited about Staqu and its proposition. Search is becoming very complex and consumer experience demands precise results of articles being searched. Staqu AI engine is the best that we have seen and can help increase the sales of its e-commerce customers by delivering superior customer experience. It can also create alternate revenue streams for its OEM customers. The team is rock solid with background in research and product development. We look forward to be a part of Staqu’s journey to deliver a true global product from India,” said Khosla.

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