Two Indian startups – m.Paani and Aye Finance have been listed in 10 companies selected globally by Google for its flagship development acceleration programme “Launchpad Studio”. With this, both these Indian Startups become two of the only 10 companies chosen globally by Google.
Unveiled last year, “Launchpad Studio” programme from Google brings top machine learning (ML) and Artificial Intelligence (AI)-based startups from across the world and experts from Silicon Valley under the guidance of Google researchers, engineers, product managers and trusted experts.
Gurgaon headquartered Aye Finance is a non-banking finance company (NBFC) and interestingly, CapitalG, the venture capital fund owned by Google’a parent Alphabet Inc., has already invested in Aye Finance in June this year when the VC fund had led the $21.5 million Series C round of Aye. In 2016, the fintech startup had also raised $10.5 million investment from investors including SAIF Partners and LGT.
The startup is infact a well-funded startup having raised total of about $78.4 million (~ Rs.563 crore) in 11 different rounds, since 2014.
Essentially, Aye Finance provides business loans to the small and micro enterprises and builds solutions, automation and processes that address the challenges that have hindered the classical financial industry.
About m.Paani, the Mumbai headquartered startup is India’s first neighbourhood loyalty platform that focuses on empowering India’s local retailers and users using ML and AI.
Founded in 2013, by Akanksha Hazari, m.Paani is backed by Blume Ventures, IDG Ventures and some angel investors including Adil Allana of The Allana Group a leading FMCG group (includes brand London Dairy, among many others) in India and the Middle East, Aprameya Radhakrishna, Founder of Taxiforsure, and Gautam Ivatury, CoFounder of Meradoctor and Signal Point Partners.
The startup was also the part of Google’s four shortlisted Indian startups for its hands-on mentorship programme ‘Launchpad Accelerator’, in December last year.
The start-up rewards consumers with “m.Paani points” when they shop from local retail partners across categories and help retailers grow their businesses by digitising, optimising and maximising their relationships with existing and new customers, it said in a statement on Thursday.
“We are incredibly excited to be a part of the Google Studio programme, especially as the youngest company,” said Akanksha Hazari Ericson, CEO and Founder, m.Paani.
The “Launchpad Studio” programme commenced from September 6 at Google’s headquarters in San Francisco and will last for a period of four months.
The starting point for Google Launchpad Studio was aimed at the data-rich medical industry, with the companies involved in the six-month program including the likes of BrainQ, CytoVale, and Byteflies.
Via – New Indian Express