Latest News
ParallelDots Wins the Tech4Future Grand Challenge Powered by Invest India and SoftBank Group
ParallelDots, Inc., an artificial intelligence company, has won the Tech4Future Grand Challenge powered by the Japanese conglomerate SoftBank and Invest India. The company has received a cash prize of USD 50,000. SoftBank has also invited ParallelDots for an incubation opportunity for 2-3 months in Japan.
The Tech4Future challenge was launched in November 2018 aimed at identifying the most promising Indian startups in the domain of artificial intelligence (AI), machine learning, facial recognition and cyber security sectors. A total of 300 startups applied for the challenge. ParallelDots’ Chief Executive Officer, Angam Parashar attributes the company’s success to the strong research and development capabilities of ParallelDots which is constantly pushing the boundaries of its retail AI platform, Karna AI.
Karna AI provides an image recognition solution to CPGs and Retailers to track key shelf KPIs such as share of shelf (SOS), planogram compliance and out of stock (OOS).
Ankit Narayan Singh, CTO at ParallelDots, said, “This recognition is a testament to the immense effort put by our machine learning engineers to create SKU detection algorithm that needs just one sample image to train. Our research work has been published in top AI conferences like NIPS, ISBI and NAACL.”
ParallelDots revenue has grown 5x in the last 12 months with a global clientele spread across multiple geographies including the United States, Europe, Southeast Asia and India. The company has raised $2 Mn from Multipoint Capital and hopes to break even by the end of 2019.
SOURCE ParallelDots
Blockchain
FAIRWINDS Credit Union Joins Metal Blockchain’s Banking Innovation Program
Blockchain
RevoluGROUP and Bit2Me Announce Strategic Partnership to Enhance Global Payments and Digital Asset Accessibility
Blockchain
Global Payment Gateway Industry Report 2024: Seamless Integration with In-Game Virtual Currency Systems Enables Payment Gateways to Contribute to the Monetization Strategies of Game Developers
Global Payment Gateway Market
-
Blockchain6 days ago
Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics
-
Blockchain Press Releases6 days ago
DWF Labs joins the Klaytn Governance Council
-
Blockchain6 days ago
Crypto fans count down to bitcoin’s ‘halving’
-
Blockchain6 days ago
Tether USDT stablecoin goes live on TON blockchain
-
Blockchain Press Releases2 days ago
DeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain6 days ago
Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest
-
Blockchain6 days ago
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
-
Blockchain7 days ago
Alpha Transform Holdings Releases March Report on ASC AI Index