Neuron, a New Delhi-based machine learning platform for text analysis has raised an angel funding of $200K. The round was led by Harvinder Singh Bhatia, CFO Netmagic & Founder of Radiowala and Vinners group of angels. Along with cracking the deal, it has also launched its SaaS platform for developers around the globe.
The company plans to use the funds for its R&D in machine learning and natural language processing to develop deep learning models with the best accuracy industrially possible and hire the best talent pool for machine learning and artificial intelligence.
Earlier, Neuron was incubated by TLABS and had also raised a small seed round from them.
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Neuron was launched in November 2014 by Veer Mishra and Aaditya Kakde. It is a natural language processing platform that provides API’s that help analyse the overall sentiment of a statement, extract the most significant word in a document, help know the similarity/relatedness of two statements, understanding the context of documents and categorizing into topics
According to the founder Veer Mishra “We already have around 200+ developers across the globe who are testing our beta platform and it should scale up to 1000+ in next couple of months.”
The team being the biggest assets of Neuron, they plan on conquering the technology by a storm, along the way encouraging others (developers, marketeers, entrepreneurs, organizations) even to adapt to technology and let creativity loose. As mentioned by Aaditya, the two key people: Dr. Ritesh Mallik and Padup has been a great support for Neuron in tough times.
“We believe that India is a growing market and people have a huge requirement of Machine Intelligence and NLP for their software and services as it helps them extract insights of their data hence the user behavior. Automation is becoming a part of almost everything now.” Veer said.
Other major startups in the field of machine-learning in India are Brain A, Crayon Data, Dataweave, Flutura, Formcept, Fractal Analytics and more.