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Gurgaon-based AI-research startup Staqu raises undisclosed funding from IAN

Gurgaon-based AI-research startup Staq raises undisclosed funding from IAN- mybigplunge

Startup & Entrepreneurship

Gurgaon-based AI-research startup Staqu raises undisclosed funding from IAN

Aiming to expand the computational strength of its research labs, Gurgaon-based AI- research startup Staqu has raised an undisclosed funding from Indian Angel Network with the round led by Bikky Khosla, Neeraj Singal and Ajay Gupta on behalf of IAN. Bikky Khosla will join the Staqu board as part of the deal.

Founded by Atul Rai, Anurag Saini, Chaitan Rexwal, Pankaj Sharma in 2015, Staqu is an artificial intelligence based startup, which utilises state-of-the-art deep learning technologies to provide precise reverse image search solutions.

Atul Rai, the co-founder and CEO of Staqu, said, “We plan to invest this round in expanding the computational strength of our VGrep Lab (AI research lab at Staqu) and fueling 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 using it to address issues across other market segments, too,” added Rai.

The search engine is designed in a way that it can retrieve exact matches from the indicated database for an input image. The solutions include the VGrep API Suite that comprises of products such as visual search engine and hybrid recommendation engine.

Various information like content, colour, shape and texture are extracted and fused together to provide visual search solutions for various e-commerce businesses in the field of fashion, housing, medicine etc.

Bikky Khosla of IAN said, “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.”

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