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<keyword id="328347" type="ORGANIZATION" weightage="100" keywordseo="Indian-Angel-Network">Indian Angel Network</keyword> (IAN), which is India’s first and world’s largest angel investor network, has invested an undisclosed amount in <keyword id="6550201" type="UNKNOWN" weightage="100" keywordseo="Staqu">Staqu</keyword>, a Gurgaon-based research start-up focused on Artificial Intelligence (AI), working in automated image understanding technology. 
 On behalf of IAN, it was <keyword id="1710874" type="PERSON" weightage="100" keywordseo="Bikky-Khosla">Bikky Khosla</keyword>, 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 <keyword id="3438817" type="UNKNOWN" weightage="100" keywordseo="VGrep-Lab">VGrep Lab</keyword> (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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IAN invests in AI-based research venture Staqu

<keyword id="8589" type="PERSON" weightage="20" keywordseo="padmaja">Padmaja</keyword> <keyword id="980938" type="PERSON" weightage="20" keywordseo="Ruparel">Ruparel</keyword>, President, Indian <keyword id="620178" type="PERSON" weightage="20" keywordseo="Angel-Network">Angel Network</keyword> says that the idea of a pan-India angel community came to the founders in an informal meeting, “IAN was built over some spilled wine where we just decided to help people who were trying to be job creators instead of job seekers,” Ruparel told Business Insider. When Ruparel left the corporate life she was looking for her next passion unseeingly not realizing that it was staring her right in the face, “We’d get ten business plans from TiE every day and then fight for investing in one of them. We decided to pick out one or two business plans and each of us invested in those two rather than making a high risk investment in each, which is the genesis of angel investing,” relays Ruparel talking about how it all started. <div type="embedgroup"> <div type="Article" hostid="261" msid="58748819" title="Exclusive: Padmaja Ruparel, Indian Angel Network is Breaking Barriers, just like the Start-ups She Supports" rank="1.0" kind="RELATED" publishDate="May 19, 2017, 2:34 PM" mstype="2" mssubtype="0"></div></div>
 Adding Value Instead of Writing Cheques More investors joined in through different business networks and <keyword id="36015" type="ORGANIZATION" weightage="20" keywordseo="ian">IAN</keyword> never had to market itself. “Every entrepreneur who approaches us gets advice from us and that’s very important for the brand we’re trying to build,” says Ruparel who insists on being formal in their dealings and always meeting in office as she desists the ‘casual’ culture associated with start-up companies. She feels that it is insulting to the entrepreneur who is taking the highest risk of his life. <div type="embedgroup"> <div type="Article" hostid="261" msid="58627337" title="Exclusive: Know Vani Kola, one of India&amp;#39;s best known investors, like never before" rank="1.0" kind="RELATED" publishDate="May 12, 2017, 12:00 PM" mstype="2" mssubtype="0"></div></div>
 Creating Social Norms Ruparel says that social norms are what you believe in and if it works, you can sway opinion to your benefit. The rebel in her also resulted in her not having children because she felt that that was not a priority, and this is exactly how she deals in the office; by prioritizing what works for IAN. IAN, which is one of Asia’s largest angel networks has invested in companies like Druva, WowMomos!, Staqu etc. “The network has invested 125 crores last year and wants to invest another 500 years in the next four years, leveraging 1500 crores in the ecosystem,” says Padmaja whose vision is not just one fund. IAN recently closed its maiden fund at Rs 175 crore which has a target of Rs 350 crore aimed to make early-stage investments in 150-160 companies in the next four years. “We are now seeing that once early-stage companies that have raised half a million, next need funds in the $1-4 million range, which is a challenge. So, IAN came together to respond to this need to invest in <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> so that they become stronger alongside mentoring and handholding. We are trying to help them raise anywhere between Rs 50 lakh and Rs 50 crore which will not only help them raise money faster but it is also quality investment that they receive,” she says about the pivotal fund. <div type="embedgroup"> <div type="Article" hostid="261" msid="58627612" title="Exclusive: Vani Kola, MD, Kalaari Capital talks about her big bets and consolidation in the e-commerce sector" rank="1.0" kind="RELATED" publishDate="May 12, 2017, 6:00 PM" mstype="2" mssubtype="0"></div></div>
 Entrepreneur vs. Salesman Padmaja believes that 75% of her investments are now about the startup team and not just the idea. “Entrepreneurs need to understand top-line and bottom-line before asking for investment. The startup founder needs to be a good salesman who is selling his belief to investors, his family, his team and eventually, the world,” Ruparel signs off, in style as perky 46-year old.

Exclusive: Padmaja Ruparel, President, IAN Says that Entrepreneurs are the Most Successful Salesmen

<keyword id="328347" type="ORGANIZATION" weightage="100" keywordseo="Indian-Angel-Network">Indian Angel Network</keyword> (<keyword id="36015" type="ORGANIZATION" weightage="100" keywordseo="ian">IAN</keyword>), which is world’s largest network of angel investors, has invested Rs 4 crore as funding in <keyword id="3259573" type="UNKNOWN" weightage="100" keywordseo="Wiwigo">Wiwigo</keyword>.com, an inter-city taxi service provider. 
 The <keyword id="3505565" type="UNKNOWN" weightage="100" keywordseo="inter-city-cab-market">inter-city cab market</keyword> stands at $20 billion as of now, with several players making good use of the growing market. Wiwigo, which is an online platform for intercity travel, has its USP in addressing the expensive problem when passengers have to travel just one way. The company claims to help them save almost 45% of current fares. 
 
As of now, the cab-operator is present in over 40 cities, offering roundtrip and multi-city travel options. With the new funding, it aims to expand its operations to over 100+ cities by yearend. 
 
Also read: <a href="http://www.businessinsider.in/Angel-network-invests-in-Staqu/articleshow/52884054.cms">IAN invests in AI-based research venture Staqu</a> 
 
In India, the intercity car rental market in India stands at approximately $9 Billion, growing at 12% annually. However, around 90% of this market is still unorganized. Started in April last year, Wiwigo aims to organize this market. 
 Talking of the funding, it was led by IAN investors <keyword id="3505566" type="UNKNOWN" weightage="100" keywordseo="Priyank-Shankar-Garg">Priyank Shankar Garg</keyword> &amp; <keyword id="438872" type="UNKNOWN" weightage="100" keywordseo="Harsh-Chitale">Harsh Chitale</keyword>, and Garg would also be joining the Wiwigo board soon. 
 
<a href="https://i.ytimg.com/vi/63xzWedfN9w/maxresdefault.jpg">Image source</a>

IAN invests in Wiwigo to get a taste of the inter-city cab market

<ul><li>Two Indian states — <keyword id="68884" type="LOCATION" weightage="20" keywordseo="Telangana">Telangana</keyword> and <keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> — are giving the country a digital push by implementing <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword>. </li><li>The Telangana state is planning to introduce programmes specific to AI throughout the year, thereby declaring 2020 as the year of Artificial Intelligence. </li><li>Uttar Pradesh is bringing its prisons and examination systems in the ambit of artificial intelligence. </li><li>The UP government will conduct AI-based video analysis across 70 prisons via JARVIS — by scanning CCTV footages of the prisons. </li></ul>AI has become ubiquitous to companies across sectors be it — healthcare, finance, agriculture and human resources. AI’s ability to grasp knowledge and make decisions also caught the eye of the government which deals with tough decisions and extensive data. Two Indian states — Telangana and Uttar Pradesh — are taking the first steps with a digital push to governance. Telangana is planning to introduce programmes specific to AI throughout the year, and declared 2020 as the year of Artificial Intelligence, according to KT Rama Rao, Information Technology Minister of the state. The state is looking to aid research in AI and also training workforce in the emerging technology. "The Telangana government is continuing to attract investment from marquee companies that are setting up their research &amp; development (R&amp;D) and technology development centres in emerging technologies like the internet of things (IoT), AI, <keyword id="294572" type="TECHNOLOGY" weightage="20" keywordseo="machine-learning">machine learning</keyword>, cyber security and blockchain. The government is happy to collaborate with <keyword id="6372077" type="COMPANY" weightage="20" keywordseo="nasscom">NASSCOM</keyword> in bridging the skill gap in this emerging technology space," the minister <a href="https://cio.economictimes.indiatimes.com/news/corporate-news/telangana-to-declare-2020-as-year-of-ai/71769885">said</a>. The state has also sought expressions with government think-tank Niti Aayog to roll out a National Strategy for Artificial Intelligence. Digital push in the state of Uttar Prades The state of Uttar Pradesh is also using AI to manage its prisons and examination systems. It is implementing AI to <a href="https://www.digit.in/news/machine-learning-and-ai/uttar-pradesh-government-partners-with-staqu-to-introduce-ai-based-video-analytics-platform-jarvis-i-50967.html">crack down on </a>unlawful activities in prisons. It has joined hands with technology company Staqu to conduct AI-based video analysis across 70 prisons using their analytics platform, JARVIS. The platform will be used to scan CCTV footages of the prisons and alert concerned authorities. The move is an attempt to put a halt to criminal activities in prisons like use of mobile phones, knives and guns. The state is also considering implementing AI-enabled bots to maintain transparency in the education and examination system. "Things are still in the planning stage and we are trying to ensure implementation of the programme for the 2020 board examinations," the government officials told IANS. The move will track and report cases of proxy students and teachers. See also: <a href="https://www.businessinsider.in/tech/article/heres-how-artificial-intelligence-changed-the-way-we-eat-write-drive-and-talk/articleshow/71846412.cms">Here's how artificial intelligence changed the way we eat, write, drive and talk</a> <a href="https://www.businessinsider.in/business/startups/news/staqu-launches-jarvis-an-artificial-intelligence-video-analytics-platform-for-india-prisons/articleshow/71955239.cms">This Indian startup has launched an AI led ‘Video Wall’ for surveillance in India’s prisons</a> <a href="https://www.businessinsider.in/careers/news/ai-skills-needed-to-get-best-jobs-in-the-industry-according-to-the-data-science-skills-study-2019/articleshow/71473858.cms">The hottest AI jobs will need you to know these programming languages and tools</a>

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IAN invests in AI-based research venture Staqu

BI India Bureau

Exclusive: Padmaja Ruparel, President, IAN Says that Entrepreneurs are the Most Successful Salesmen

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IAN invests in Wiwigo to get a taste of the inter-city cab market

BI India Bureau

These two state governments are looking at AI for governance and development

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