Staqu a Gurgaon based research startup raised an undisclosed amount of funding from Indian Angel Network-IAN. On behalf of IAN, Neeraj Singhal, Bikky Khosla and Ajay Gupta led the round and Bikky Khosla will join the board of Staqu.
The funds will be utilised to stregthen the team and democratise & build technology. Its team consist of engineers and researchers.
The startup was founded in 2015 by Atul Rai, Pankaj Sharma, Anurag Saini and Chaitan Rexwal. It enables the automation for some crucial tasks for e-commerce companies including tag generation, image search and time recommendation. It includes VGrep API suite comprising of products including hybrid recommendation engine and visual search engine.
Atul Rai Co-founder and CEO of Staqu said
“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.”
It uses an AI & engineering for deep learning, image processing, NLP, computer vision, and improvement for users daily mobile experience.
Staqu’s team recently have developed a technology called bidirectional image understanding which creates an automated image to text & text to image discovery. A combination of various deep learning algorithms requiring only images & develop their own understanding.
IAN has around 400 investors from 10 countries. It’s presence spans 7 locations including cities of UK and India. In over last 2 years it has invested in more than 55 ventures.
Bikky Khosla said
“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.”