IoT & AITechnology For SMEs

AI Startup Algomage Raised $850k in Pre-Seed Funding Led by The DotIn Network

Built on the core principle of investing in & partnering with innovative early-stage Founders, The DotIn aims to leverage its vast network of investors to unlock new growth opportunities for start-ups across the spectrum. 

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Founded in 2021 with the aim of revolutionizing the world of post-production for digital photography across the world, Mumbai-based start-up Algomage has received $850,000 in a pre-seed funding round led by The DotIn Network – a closed-door network of investors  for marquee Family Offices & Angel Investors. Built on the core principle of investing in & partnering with innovative early-stage Founders, The DotIn aims to leverage its vast network of investors to unlock new growth opportunities for start-ups across the spectrum. 

Envisaged by Founder and CEO Anand Rathi, who has been named in the Top 100 photographers of the world list by Fearless in 2019, Algomage has been built by photographers as the world’s first full stack Artificial Intelligence (AI) post production suite that can process raw pictures into superlative images in near real time. Employing the latest cutting-edge technologies including machine vision and deep learning, Algomage automates mundane and time consuming processes such as image selection, editing and sharing, to boost image visibility, slash image delivery time and save thousands of man-hours for small and large businesses  

The start-up has more than 3,500 active users that process in excess of 5Mn images every month through the platform. Algomage is helping businesses reduce their image turnaround time by a factor of 50 while incurring a fraction of the cost compared to manual processes. Algomage’s Algoshare tool is revolutionizing the way images are shared at live events and bringing in 10 times more visibility than conventional platforms.

Established as a closed-door network of investors in January 2022, the DotIn Network has been the lead investor in Algomage’s pre-seed funding round, with a total contribution of $325,000. Speaking about the thought process behind supporting Algomage, Pranav Sanghvi- Managing Partner at The DotIn Network elucidated, “Our investment philosophy is centred around backing early-stage businesses that have the potential, zeal and passion to transform the sector they operate in. Algomage fits this description perfectly and is helmed by passionate individuals who are solving productivity bottlenecks for thousands of photographers using AI. We believe that Algomage is destined to lead the image post-production market in the near future and are glad to be partnering with them on the exciting journey ahead. As investors, we will not only be leading the funding for the brand but also will be closely involved in unlocking newer opportunities by leveraging our networks to introduce Algomage to India’s largest event organisers, hospitality partners and consumer brands. Furthermore, we are also working closely with Anand & team to build custom solutions to help Short Video Platforms activate content creation at Experiential events. Algomage is on to a great start and we are here for it” 

Having set its sights on reaching the number one spot in a $18 billion global market, Algomage will be deploying the funds to introduce new tools on its AI post-production suite and expanding to overseas markets. Commenting on the conclusion of its pre-seed funding round, Anand Rathi- Founder & CEO-Algomage added,” Being a professional photographer entails having to scan through thousands of images every day in the hope of finding the perfect picture that would fit the client’s requirements. Moreover, they also need to reach out to more businesses and focus on improving their visibility by sharing their work on multiple platforms. All of these tasks consume almost four months of productive time in a year and involve additional marketing expenses. At Algomage, we are solving these issues through our AI post-production suite that has inbuilt culling, editing and sharing functionalities. With the recently concluded pre-seed funding round, our focus will now rest on unlocking new tools, while also expanding our customer base to markets beyond India.”

Available as a desktop application and web platform, Algomage is catered towards SMBs and enterprises that want to achieve the highest level of imaging at lowest unit cost with fastest possible turnaround time. Offering its users complete control at all stages in the post-production stage, Algomage can also be integrated within any existing tech stack via SDKs and APIs.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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