Lares.AI (A Generative AI Based Business Intelligence Solution in 2024)

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dayakarmaisa
artificial intelligence, B2B, Deep tech, Digital services, indian startups, Internet, SaaS, services, Software, Startups, startups in india Jul 12, 2024 0

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Lares.AI is like Siri for your business setup, powered by generative AI to transform complex analytics into actionable insights.

What is Lares.AI?

Lares.AI is a startup that aims to revolutionize the way businesses interact with data. Their flagship product, the Lares.AI Co-pilot, is a sophisticated data synthesis tool that aggregates data from multiple sources and transforms complex datasets into actionable insights.

It is designed to assist businesses in navigating the complexities of large-scale data analysis. It empowers them to interact with data in a whole new way, uncovering hidden patterns and transforming typical analytics into ready observations. In short, this tool turns the overwhelming data volumes into valuable strategic assets.

The vision of Lares.AI is to create a world where business decisions are not only based on data but also enriched with the insights and intuitions that AI can provide.

Their mission is to make AI a reliable partner for businesses, aiding strategy formulation and execution. These business intelligence innovators believe that businesses can harness the power of AI best when they can use it easily and effectively.

Startup Lares. AI
Website lares.ai
Founded 2020
Headquarters Kerala, India
Services Software as a Service
Revenue Model B2B

Here is a Quick Overview

Lares.AI flyer

Evolution of Lares.AI

The dream venture has come a long way from its initial days when it started as a team of four dreamers who didn’t know whether they could pull off the technology they envisioned. In terms of technology, they are way ahead of where they started. Initially, they had a platform where most of the data cleansing and analytics could be done.

But now, they have integrated the latest advancements in generative AI and natural language processing into their platform. They also have established business partnerships in five or more countries Their product is currently in beta version and they are getting positive feedback from their early adopters.

The Spark behind Lares.AI

The idea for Lares.AI stemmed from a simple yet profound question: “What if data could speak the language of business strategy?” The founders, a team of experienced AI solution architects, noticed a gap in the field of business intelligence, where companies collect so much data and struggle to extract meaningful insights from their data mountains.

They realized such companies needed more than just data analysis. They needed the data to tell them a story, to guide their strategy, and further take action out of it. Lares.AI aims to bridge this gap by providing AI-powered insights tailored to each business’s unique use cases.

Headquarters and Branches

At present, Lares.AI operates primarily in India, but they have expansion plans for the Middle East, the UK, and the US. Their headquarters is located in Kerala India, but they may establish additional branches as they grow internationally.

Lares.AI Team

The founders of Lares.AI, who come from the same college background, faced the initial challenge of building a team passionate about their vision.

They overcame this by attracting individuals who believed in their innovative journey. Currently, the team consists of six members, united by their mission to create something groundbreaking.

Targeting Insights

Lares.AI is a B2B SaaS platform that is sector-agnostic, meaning that it can cater to any industry that needs data-driven insights. However, for market penetration, they focus on two sectors: retail and fintech. They target businesses that already have data but struggle to gain insights or stories from it.

Revenue Model

Lares.AI is a pre-revenue startup, meaning that they have not generated any revenue from their product yet. They are still in the process of developing and testing their product and acquiring and retaining their customers. They are planning to launch their product officially in the next few months and start generating revenue from their subscriptions and services.

Lares.AI screenshot

Competition for Lares.AI

Lares.AI has several competitors in the field of business intelligence and AI, both from India and abroad. Some of the notable competitors are:

  • Akkio: A primary competitor operating in the same domain. The data-driven startup keeps a close eye on its competition for market positioning.         Akkio is a no-code AI platform that helps businesses automate workflows and predictions from their data.
  • ThoughtSpot: A search and AI-driven analytics platform that empowers anyone to get insights from data in seconds.
  • Qlik: A data integration and analytics platform that helps businesses access and analyze data from any source.

Expansion Plans

This bootstrap startup’s immediate expansion plans revolve around the progression of its beta program. The public release of their platform is a major milestone. They are planning to launch new features and products that will enhance their platform’s functionality and usability.

This AI startup for every business is also planning to expand into new markets, especially with their platform going public. They are looking for strategic partnerships and collaborations that will help them reach more customers and grow their brand.

Boosting the Market Presence

Overcoming limited resources and market presence is typical for startups, but they leverage their innovative spirit and the open-source community to address these challenges. Making a robust market presence was initially very tough for them due to a lack of connections.

The team attended numerous events and programs to build a network and gain insights about the market. Participating in challenges hosted by various organizations also contributed to their initial presence.

SWOT Analysis

Strengths:

  • Focus on generative AI, setting them apart from competitors.
  • Powered by the open-source community, ensuring cutting-edge solutions.
  • Innovative approach.

Weaknesses:

  • Limited market presence, being a young startup.
  • Resource constraints that are typical of a startup.

Lares.AI swot

Opportunities:

  • Growing demand for AI-based business intelligence solutions.
  • Rapid technological advancements in AI.
  • Potential for global expansion.

Threats:

  • Established companies and emerging startups that are investing in AI.
  • Rapid technological change that requires constant adaptation and improvement.
  • Market volatility can impact investment and growth strategies.

Lares.AI Funding

Lares.AI is currently bootstrapped, meaning they have not received any external funding. However, they are actively seeking investment opportunities to fuel their expansion plans. The initial capital invested was five lakh rupees from their own resources.

Lares.AI Founders

Founder: Mohamed Zakeer, CEO and Chief Architect.

Zakeer is the visionary and leader of the company. He is responsible for setting the direction and strategy of the company. He is a seasoned software engineer with four years of experience in AI solutions.

Co-founder: Pavin Krishna, COO and Chief Marketing Officer.

Pavin is the chief operations officer of the company. He is responsible for managing the day-to-day operations and overseeing the marketing activities. He is a software engineer with three years of experience in personnel management, particularly in client management and marketing.

Co-founder: Manu Krishna, CTO and Chief Engineer.

Manu is the chief technology officer of the company. He is responsible for developing and deploying the AI-based system. He is a software engineer with four years of experience in building and deploying AI-based systems.

Co-founder: Mohammed Fayaz, CDO and Chief Designer.

Mohammed Fayaz is the chief design officer of Lares.AI. He is responsible for enhancing the user experience of Lares.AI products and services and making them functional and engaging. He is a software engineer with three years of experience in building front-end solutions.

Awards and Recognition

  • Selected for the Voice Challenge, War of India Solutions Challenge.
  • Selected as the top 150 startups for the X Pitch Competition, which is one of the toughest pitch competitions.
  • Selected as the best cloud solution in Tech Week Singapore.

More

What are the strengths of Lares.AI?

One of the key strengths of Lares.AI lies in its unwavering focus on generative AI, a feature that sets it apart from other BI solutions. Additionally, the company leverages the strength of being powered by the open-source community.

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