Kalaari Capital’s Post

Indian SaaS Market to cross $50Bn powered by AI India’s SaaS market is on track to reach $50 billion in Annual Recurring Revenue (ARR) by 2030, despite recent funding slowdowns. Driven by AI, particularly Generative AI (Gen AI), and a thriving start-up ecosystem, the sector is projected to grow at a CAGR of 15-18%, according to reports by Bessemer Venture Partners and SaaSBoomi. Key insights driving this growth: 1️⃣ AI and Gen AI Transformation: AI is not just a buzzword—it’s reshaping the entire SaaS landscape, with start-ups integrating these technologies into various business operations. Gen AI is expected to penetrate the SaaS market 3x faster than traditional SaaS, unlocking an additional $200 billion in Total Addressable Market (TAM) by 2027. 2️⃣ Start-up Ecosystem: Indian SaaS unicorns and centaurs have collectively added $5.9 billion in revenue in 2023 alone. India is home to 19 SaaS unicorns, and by 2030, the sector is expected to generate over $50 billion in revenue, fostering the rise of over 100 unicorns and 50 centaurs. These companies are poised to create over 500,000 jobs and generate half a trillion dollars in value over the next decade. 3️⃣ Investment Shifts: While funding slowed in the past two years, particularly in H1 2023, Q4 2023 and early 2024 saw a resurgence in venture funding. AI-first models and B2B SaaS start-ups are grabbing investor attention, with nearly $1 billion expected to flow into the ecosystem in 2024. 4️⃣ VCs' New Evaluation Criteria: VCs are now focusing on fundamentals rather than just market share or growth rates. This cautious approach is expected to boost funding for companies that prioritize solving real-world problems with clear roadmaps and solid business models. 💡 What does this mean for the future?  India is rapidly becoming a hub for AI-driven solutions, with global companies setting up their 'AI Competency Centers' here. What do you think about the SaaS revolution? Would be eager to hear your thoughts and insights on the future of SaaS industry. #SaaS #India #AI #GenerativeAI #StartupEcosystem #Unicorns #VentureCapital #Innovation #TechTransformation #FutureOfTech #Research #Future

Reflections from #SaaSCON (August 22-23, 2024) Last week, I had the pleasure of attending #SaaSCON, organized by SaaS Insider. It was a fantastic gathering of #founders, #investors, and #operators from the #SaaS ecosystem, and I wanted to share some key trends and insights that stood out: Trend 1: Optimism Around Generative AI There was a palpable sense of optimism about Generative AI and its integration into products. Many startups are adopting an AI-first approach to solve problems, demonstrating the growing confidence in AI's potential to transform industries. Trend 2: AI-Powered Sales Enablement and Market Entry A significant number of new-age startups (those founded in the last year or so) are focused on sales enablement, all leveraging AI to drive their solutions. Additionally, there is a growing segment of Gen AI-based assessment tools, along with new agencies offering GTM consulting to help companies successfully enter the US market. Trend 3: Scaling Indian SaaS The Indian SaaS ecosystem is maturing, with many companies now surpassing the $1 million ARR milestone. The focus is shifting to scaling up to $10 million ARR, inspiring emerging startups to follow suit and reinforcing the growth potential in this space. Overall, #SaaSCON highlighted the dynamic and rapidly evolving nature of the SaaS industry, particularly the role of AI and the scaling ambitions of #Indian #SaaS companies. Exciting times ahead!

🚀 Top 10 Indian GenAI Startups Putting India on the Global AI Map 🚀 - India is rapidly emerging as a global powerhouse in the field of Generative AI (GenAI). - Here are the top 10 GenAI startups leading the charge and setting new benchmarks for innovation and impact: 1. Rephrase.ai: Raised $4.5M to revolutionize video personalization. 2. gnani.ai: Secured $3M for groundbreaking speech recognition and voice AI technologies. 3. Sprinklr: Closed a $10M Series A round to expand AI-driven customer experience. 4. Mad Street Den: Raised $6.5M to advance AI solutions for retail and e-commerce. 5. Arya.ai: Bagged $15M for its AI platform targeting banking and insurance sectors. 6. Haptik: Raised $40M to grow conversational AI solutions globally. 7. InMobi: Secured $100M to enhance AI-driven advertising and marketing technology. 8. Fractal Analytics Academy: Acquired for $200M, expanding its AI analytics reach. 9. Freshworks: Went public with a $1B IPO, showcasing India's AI prowess on the global stage. 10. SigTuple: Advancing AI in healthcare diagnostics with robust financial backing. 👉 Why This Matters: 🔹 Global Recognition: These startups are not only making waves in India but also gaining international recognition for their contributions to AI. 🔹 Innovation Powerhouse: They exemplify the spirit of innovation, pushing the boundaries of what AI can achieve. 🔹 Economic Impact: Generative AI is creating new job opportunities and driving economic growth. 🔹 Inspiration for Founders: These startups are proof that with vision, dedication, and innovation, Indian startups can lead on the global stage. 🚀 Startups, it's your time to shine! Use these examples as inspiration to think big, innovate, and make your mark on the world. #genai #startups #innovation #top10 #founder #india #arya.ai #deeplearning #iot #ai #software

🚀 𝐈𝐧𝐝𝐢𝐚𝐧 𝐀𝐈 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬: 𝐀 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐁𝐨𝐨𝐦 & 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐄𝐱𝐩𝐥𝐨𝐬𝐢𝐨𝐧! 📊 Exciting times for India's AI ecosystem! AIM Research reports over 43 Indian AI startups have secured nearly $864 million in funding in just the last 6 months. But that's just the tip of the iceberg: 𝟏. 𝐎𝐥𝐚 𝐊𝐫𝐮𝐭𝐫𝐢𝐦 (𝐁𝐡𝐚𝐯𝐢𝐬𝐡 𝐀𝐠𝐠𝐚𝐫𝐰𝐚𝐥): $𝟓𝟎𝐌 𝟐. 𝐒𝐚𝐫𝐯𝐚𝐦 𝐀𝐈: $𝟒𝟏𝐌 (𝐒𝐞𝐫𝐢𝐞𝐬 𝐀) 𝟑. 𝐄𝐦𝐚: $𝟑𝟔𝐌 (𝐒𝐞𝐫𝐢𝐞𝐬 𝐀) 𝟒. 𝐓𝐖𝐎 (𝐛𝐚𝐜𝐤𝐞𝐝 𝐛𝐲 𝐑𝐞𝐥𝐢𝐚𝐧𝐜𝐞 𝐉𝐢𝐨): $𝟐𝟎𝐌+ 𝐢𝐧 𝐬𝐞𝐞𝐝 𝐟𝐮𝐧𝐝𝐢𝐧𝐠 𝟓. 𝐒𝐲𝐛𝐢𝐥𝐥: $𝟏𝟏𝐌 (𝐒𝐞𝐫𝐢𝐞𝐬 𝐀) 🔍 𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝𝐬: 𝟏. 𝐅𝐫𝐮𝐠𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Indian startups are doing more with less. 𝑬𝒙𝒂𝒎𝒑𝒍𝒆:TWO raised $20M compared to OpenAI's $13B for similar products. Diverse Applications: From sales (Sybill) to multi-lingual AI (TWO's SUTRA) to space tech (GalaxEye). 𝟐. 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭: Acquisitions like Protect AI's $25M purchase of SydeLabs show growing market validation. 𝟑. 𝐁𝐫𝐞𝐚𝐤𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐓𝐞𝐜𝐡: Netrasemi's upcoming 12nm AI chip and Unscript's rapid video generation are pushing boundaries. 𝟒.𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Swiggy's Hermes and FireCompass's Agent AI showcase practical AI applications. 💡 𝐖𝐡𝐚𝐭 𝐓𝐡𝐢𝐬 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬: 1. Increased access to cost-effective, locally developed AI solutions 2. Opportunities for partnerships and integrations with innovative startups 3. Potential for AI-driven efficiency gains across various sectors Are you leveraging AI in your business? Let's connect and explore how these advancements could benefit your operations! #IndianAIStartups #TechInnovation #FundingNews #AITrends #StartupEcosystem #BusinessTechnology

Congratulations to 500-backed software and artificial intelligence (AI) company Amity Solutions (ASOL) and their parent company, Amity Corporation, on raising a US$60M Series C! The fresh funds will be used for Generative AI (GenAI) research and development, as well as to further acquire SaaS (software as a Service) products with the highest potential for GenAI integration, and to grow into overseas markets. “[Our goal is] to build a powerful ecosystem of GenAl-centric applications that address real business needs across various industries,” shared Keng Teik Koay, Group CEO at ASOL. Since the company’s founding in 2012, their products have been used by over 50 of Thailand’s leading companies including leading state-owned enterprises, government agencies, banks, financial services firms, retailers, and many more. Their core products include enterprise chatbot platform Amity Bots, voicebot platform Amity Voice, and a collaboration platform for non-desk workforces, Eko. Read the full story on TechNode Global: https://bit.ly/3WeFptW Korawad Chearavanont #500Global #500SoutheastAsia #500Strong #startups #technology #innovation #venturecapital #asia #southeastasia #thailand #generativeai #genai #artificialintelligence #productivity Photo credit: Bangkok Post

Generative AI is transforming the way we work, and we are only scratching the surface. With the recent funding secured, we are ready to elevate Thailand as a leading hub for generative AI in the region. We are excited to support innovation and drive advancements that will shape the future of technology in our country and region #amity #amitysolutions #generativeai

In this feature of StartupJourneys@IAN, we talk about Uniphore, an Enterprise AI company incubated at IIT Madras, which has grown into one of the largest B2B AI-native firms in the world with a valuation of $2.5 Bn. In 2008, when co-founders Umesh Sachdev, CEO, and Ravi Saraogi, President - APAC, conceived of Uniphore, it was the pre-smartphone era. The two realised that India’s linguistic diversity, usually considered its strength, could actually lead to sizeable communication gaps. Moreover, it could broaden the digital divide – most Indians used their native tongues to communicate, yet computers and phones didn’t support regional languages. This laid the seed for Uniphore – speech recognition solutions that could enable personalised service delivery.  Currently, Uniphore is the first built-for-scale AI-native company that seamlessly incorporates AI into every aspect of the Enterprise enabling them to automate the end-to-end customer experience through AI. Indian Angel Network has invested in Uniphore multiple times, starting from 2014, with the latest being Uniphore’s Series E round in 2022. As technology has evolved, Uniphore has continued to expand its state-of-the-art solutions to enable enterprises to create a more interactive and engaging customer experience. Throughout its 16-year journey, Uniphore has also heavily invested in three key domains of AI: knowledge AI, emotion AI, and generative AI. This strategic focus has granted them the coveted first-mover advantage. In a landscape where every software company is scrambling to hop onto the AI bandwagon and where enterprise clients are constantly seeking AI-powered solutions, Uniphore stands apart through its continuous innovation and expansion of its platform for customers. #StartupJourneys #IAN #Uniphore #IANPortfolioCompanies #Startups

Assert AI, an innovative Computer Vision SaaS startup based in India, has successfully secured $4 million (approximately Rs 30 crore) in its Series A funding round. This round was led by notable investors including Ramesh Hariharan, former CTO and Co-founder of LatentView, Prashant Purker, ex-MD and CEO of ICICI Venture, Arya.ag, India's largest integrated grain commerce platform, along with several other individual investors. With its current operations spanning across India, the US, and the Middle East, Assert AI aims to utilize this capital infusion to bolster its presence in these pivotal markets. Expressing excitement about the funding milestone, Job Philip, CEO of Assert AI, stated, "We are delighted to announce the successful closure of our Series A funding round. This investment underscores the trust of our investors in Assert AI’s vision and capabilities. It will propel our expansion initiatives and expedite the development of cutting-edge AI Vision solutions that deliver tangible value to our clients worldwide." The startup plans to significantly augment its research and development capabilities and persist in its trailblazing endeavors in Computer Vision technology. Founded by Job Philip, Assert AI endeavors to equip computers with an unceasing pair of eyes and a program to interpret visual inputs, mirroring human vision without the margin for error. The company aids businesses and organizations in automating processes, enhancing customer experiences, and gaining invaluable insights into their operations. Assert AI boasts three flagship products, including "Pratham," hailed as the world's premier no-code platform for Computer Vision, tailored for non-AI users. This platform democratizes access to AI-powered video analytics, widening its accessibility to a broader audience. In tandem with Pratham, Assert AI offers "Alpha," a platform furnishing clients with a spectrum of data consumption and integration options such as API endpoints, direct hardware integration, and comprehensive dashboards. Furthermore, Assert AI's drone-based solution "Falcon" revolutionizes warehouse inventory management by enabling real-time tracking and optimization capabilities. #assertai #AI #artificialintelligence #computervision #SaaS #funding #fundraiseralert #fundraisingalert #innovation #api #hardware #drone #aidrone #allboutcorps

🚀 Did you know India now boasts over 5,000 AI startups revolutionizing industries? 🌐 Once an IT hub, India has emerged as a global AI powerhouse, driven by exceptional talent and innovation-friendly policies. Discover what sets this transformation apart and why the world is investing in India's AI future. 💡 #IndiaAI #TechInnovation #AIStartups #GlobalTech #AIRevolution #LinkedInInsights

Founded in April 2023, EcoRatings is a Delhi-based startup dedicated to helping businesses meet their sustainability goals through innovative technology. The company was co-founded by Aditi Balbir, Aqeel Ahmed, and Shruti Anand, who recognized the growing necessity for sustainability in the wake of COVID-19. Their mission is to simplify sustainability for companies by providing an interactive Generative Artificial Intelligence solution. EcoRatings has developed a platform called sustaining.ai, which offers real-time insights into Environmental, Social, and Governance (ESG) data. This platform helps businesses assess their current sustainability practices, identify gaps, and receive tailored recommendations for improvement. By leveraging AI and machine learning, EcoRatings provides actionable insights that empower companies to create effective sustainability strategies. The startup has already attracted over 20 clients and has expanded its team to include more than 25 AI and machine learning experts. Earlier this year, EcoRatings raised $1 million in pre-seed funding to further enhance its technological capabilities. With projections of reaching $2 million in revenue next year, EcoRatings is poised to make a significant impact in the sustainability sector. #moneymint #ecoratings #sustainability #ai #esg #startupindia