OpenAI's Sam Altman invests $2.3 million in Indian teens' AI startup. But what are they doing?
Induced AI has been working closely with specific clients in recent weeks and intends to broaden access in the upcoming period. Photo: dailyO
Two Indian-origin teenagers, Aryan Sharma (18) and Ayush Pathak (19), recently secured $2.3 million in seed funding from OpenAI co-founder Sam Altman for their AI startup, Induced AI.
The funding round was led by OpenAI co-founder Sam Altman and venture capital firms Peak XV and SV Angel. The startup also boasts other noteworthy investors, including notable personalities like Nat Friedman, former CEO of GitHub, and Daniel Gross, former YC and Pioneer alumni.
The co-founders announce their success
Both co-founders of Induced AI took to Twitter to announce the exciting news about their funding.
Thrilled to announce our $2.3M fundraise led by @sama and @peakxvpartners along with an incredible group of investors who believe in the vision of @inducedai pic.twitter.com/UXSlRs2tVH
— ayush (e/acc) (@ayshptk) October 3, 2023
Thrilled to announce our $2.3M fundraise led by @sama and @peakxvpartners along with an incredible group of investors who believe in the vision of @inducedai pic.twitter.com/UXSlRs2tVH
— ayush (e/acc) (@ayshptk) October 3, 2023
Now, if you're wondering what exactly this startup does to attract so many investors, let us break it down for you:
- In simple terms, Induced AI is a technology that helps businesses automate repetitive tasks by allowing them to describe their workflows in plain English.
- It then converts these descriptions into real-time computer instructions, similar to code, and uses a special web browser to perform these tasks on websites.
- This enables businesses to interact with websites and perform tasks, even if the websites don't have a specific way for computers to communicate with them.
- The system can handle complex tasks and allows for human involvement when necessary while automating the rest of the process.
- The founders aim to create a way for businesses to automate web-based workflows without requiring deep technical knowledge.
Induced is an AI-first RPA platform that lets users combine browsing and web tools, along with real-time reasoning and memory, to automate the execution of enterprise workflows on a cloud browser: @inducedai https://t.co/DR1t7P1x0b pic.twitter.com/Q9nckSN63l
— Hersh Desai (@Hersh_Desai) September 6, 2023
Collaboration with other famous investors
Sam Altman wasn't the only notable investor in this startup. Several other high-profile angel investors participated in Induced AI's latest funding round, including Balaji Srinivasan (former CTO of Coinbase), Julian Weisser (co-founder of On Deck), Tyler Willis (co-founder of Unsupervised), Cory Levy (Z Fellows), and Nakul Gupta (ex-Coinbase).
Ankur Nandwani (founder of ZetaChain), Sudarshan Sridharan (founder of Pipeline), Rahul Agarwal (co-founder of Valent), Enzo Coglitore, Daksh Miglani (co-founder of Valent), Rahul Rai, Sanat Kapur (Dragonfly Capital), Kyler Wang, and Karan Dalal also participated.
Induced AI has been working closely with specific clients in recent weeks and intends to broaden access in the upcoming period. Through its distinctive approach to automating web browsers, Induced AI aims to revolutionize workflows (the series of activities necessary to complete a task) and enhance their intelligence and efficiency.