SeekNShop.IO

AI based human like agents for shopping segments
Startup name
SeekNShop.IO
Founding date
August 2017
Incorporation
Yes
Total team member
12
Startup stage
Paying users
Category
Enterprise, Software
Sector
E-commerce & online marketplaces, Artificial Intelligence, Cognitive Agents, Saas, Voice Search
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android), API
City
Hyderabad, Telangana, India

Elevator pitch

Buying in offline world often involves a knowledgeable salesman helping end-users with guided search, context based recommendations when users are confused,constantly learning from user conversations& providing real time discounts. This is achieved in-store via a retail salesman which we are replicating in the digital world leveraging patent(s) pending domain specific deep learning AI.

Team

Sarath S S V S

I have 12 years of experience of working in enterprise, search, recommendations, Machine Learning, AI algorithms with Microsoft, Amazon,CA and MySmartPrice. I have also been a seed investor myself & have prior startup experience which involved fundraising, product launch, bizdev, strategy & sales.

Aditya M S K

Technology nerd with 12 years of experience with Microsoft and several other startups in the role of CTO with skillset ranging from building scalable systems and platforms, Machine Learning algorithms and Enterprise SaaS products.

Anirudh M S

A business driven technocrat who specializes in customer interfacing, building partnerships and client engagements coupled with Data Warehousing & Mining, Cloud Computing and building scalable cloud based systems. He has 10 years of Consulting experience in the US with Microsoft, Apple, Google

Business model

Target customer

B2B (E-commerce Businesses, Online Travel businesses, etc.,)

Customer acquisition strategy

Direct Sales, Trade shows, Retail events, Platform Partnerships

Revenue model

Revenue Drivers:
Annual License Fee (SaaS Multi-Tenant for NLP Search)
Tier 1 - < 100, 000 SKUs (15k - 18k $)
Tier 2 - < 300, 000 SKUs (30k - 45k $)
Tier 3 - < 1 million SKUs (45k – 60k $)
Enterprise – Any no. of SKUs (75k – 125k $)

Seeker Cognitive Agent - Based on the number of messages/queries & transaction commission for recommendation/promotion based orders.
Primary Cost Drivers include Cloud computing, R&D, sales, Patents, other legal and accounting costs (Contracts) etc.

Market info

Market size

$ 11,000,000,000

Competition

Natural Language Search
Direct Competitors: Twiggle & IBM Watson(Natural Selection)
InDirect competitors: Unbxd,Algolia

Seeker Cognitive Agent:
Direct Competitor: MindMeld
InDirect Competitors: Alexa, IBM Watson

Our 2 products operate in the area of Search as a Service for e-commerce and Virtual Assistant for e-commerce. Our above competitors are identified based on the same & our IP, technology, delivery model & customer metrics committed are incomparable to our competition offerings.

KPI's

  • 10,000 Monthly Revenue Rate in USD
  • 5 Platform Partnerships
  • 100 Monthly Retention Rate percentage

Startup traction

We are 8 months old within which we have launched 1 product to market with another in private beta both steadily drawing customer traction. We have currently partnered with 5 platforms for SME market segment reach-out for our Search product and are currently at a revenue of 10k $. With a growing pipeline of 50+ customers and platforms, we expect to reach 50k USD monthly revenue rate in next 1 year coupled with the product launch of our Cognitive Agent.
We promise >98% discovery accuracy, >30% conversion for detailed user queries (long tail searches) and improved user experience and retention rates.

Other information

Super Startup Asia Winner
Top 50 Valley Innovators
Nasscom 10,000 Startups Virtual Incubator
Nasscom 10,000 Selected Startups
INTU accelerator Selection
SmartFifty Top 400

Add comment

We have seen good market recognition (with various awards and selections) along with some good customer traction coupled with few partnerships and are ready to scale to the next level in a quarter.
We are filing 24 US patents for our technology which makes us an innovative and irreplicable technology company with growing value in the field of AI.
With our product being applicable for 32 domains including areas like Home Automation, Shopping, Travel etc., we believe we have the right ingredients to scale up.
Our core team are all ex-Microsoft, Amazon, Google employees with more than a decade of experience and rest of the team also has an average experience of 8+ years of experience with various top companies.

Publication date: 26 April 2018