About AI as a Service sector in India
The AI as a Service sector in India comprises 960 companies, including 232 funded companies having collectively raised $3.22B in venture capital money and private equity. Out of these, 57 are Series A+ funded, and 4 have achieved unicorn status.
AI as a Service sector in India has seen 18 acquisitions and 3 IPOs.
This sector includes companies that provide access to AI capabilities via cloud platforms, APIs, or subscription-based models, allowing businesses to integrate AI functionality without building or maintaining the underlying infrastructure.
AI as a Service sector is also known as AI as a Service Solutions, Advanced AI as a Service or Digital AI as a Service.
This includes cloud-based AI platforms offering pre-built models, APIs for text, speech, image, or data analysis, machine learning training and deployment services, and AI tools for analytics, recommendation engines, or process automation. Also covers managed AI services that provide model customization, monitoring, and support. Excluded are AI solutions that require on-premise installation without cloud or API access, standalone software that does not provide AI functionality as a service, and consulting or implementation services that do not offer ongoing AI capabilities via a platform or API.
Top AI as a Service Companies in India
There are 960 AI as a Service startups in India which include Netcore Cloud, Atomicwork, Qure.ai, UnifyApps, Emergent. Out of these, 232 startups are funded, with 57 having secured Series A+ funding, and 4 achieving unicorn status.
2026 has seen the creation of 100 AI as a Service startups in India. Over the past 10 years, an average of 79 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, BITS Pilani and IIT Bombay.
Here is the list of top AI as a Service startups in India
Provider of an AI-powered platform for customer engagement and marketing. The platform offers tools for journey orchestration, personalization, and multi-channel messaging. It provides features such as A/B testing, user onboarding, and product recommendations. The platform also includes capabilities for email marketing, SMS, and push notifications.
Key facts about Netcore Cloud
- Founded Year: 1998
- Location: Mumbai (India)
- Stage: Early Stage
- Total Funding till date: $4.89M
- Investors: Suryatej Advisors, Meadow Ventures and 24 Others
- Latest Funding Round: Unattributed, Mar 26, 2012, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 9 of 3,375 Competitors
2. Atomicwork
AI based platform to streamline the IT service management and employee experience processes. It offers AI solution for automating IT workflows and HR support and employee success. It enables employees by connecting them with the tools and teams. Its AI Assistant answers employee questions and service requests via chatbots integrated with collaboration tools including Slack and Microsoft Teams. Features include a conversational AI assistant, out of the box automation, customizable workflows, asset management, incident management, and employee self service.
Key facts about Atomicwork
- Founded Year: 2022
- Location: Palo Alto (United States)
- Stage: Series A
- Total Funding till date: $40.3M
- Investors: Z47, Blume Venture and 9 Others
- Latest Funding Round: Series A, Sep 17, 2025, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 2 of 74 Competitors
3. Qure.ai
Developer of artificial intelligence software for medical imaging diagnostic analysis. This technology integrates with existing radiology hardware to identify abnormalities in chest scans. The software assists clinicians in detecting lung nodules, tuberculosis, and signs of stroke. It provides automated reporting and workflow coordination tools to support diagnostic decision-making processes. The platform facilitates the management of patient care pathways by flagging findings for review.
Key facts about Qure.ai
- Founded Year: 2016
- Location: Mumbai (India)
- Stage: Series D
- Total Funding till date: $123M
- Investors: HealthQuad, 360 One and 47 Others
- Latest Funding Round: Grant (prize money), Jan 22, 2026, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 1 of 1,010 Competitors
4. UnifyApps
AI-powered enterprise platform offering a unified integration layer to connect systems of record. It is an enterprise AI platform that provides a unified operating system for organizations to connect disparate applications, enable AI, and automate workflows. It empowers businesses to transform into AI-native enterprises by offering a low-code/no-code AI operating system. They integrates with various systems, including Salesforce and Workday, to unify data and enhance productivity.
Key facts about UnifyApps
- Founded Year: 2023
- Location: New York City (United States)
- Stage: Series B
- Total Funding till date: $84.2M
- Investors: Elevation Capital, The Gsa Revocable Trust and 28 Others
- Latest Funding Round: Series B, Jul 02, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 8 of 6,974 Competitors
5. Emergent
Developer of platforms that build full-stack applications using AI. The system transforms natural language prompts into production-ready software through a coordinated team of specialized agents. These virtual specialists manage the architecture, database design, backend infrastructure, and frontend development. The platform automates testing and deployment, providing users with functional applications and full ownership of the resulting codebase via source control integration.
Key facts about Emergent
- Founded Year: 2024
- Location: Bengaluru (India)
- Stage: Series C
- Total Funding till date: $230M
- Investors: SoftBank Vision Fund, Lightspeed Venture Partners and 12 Others
- Latest Funding Round: Series C, Jul 15, 2026, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 10 of 798 Competitors
Companies founded year-on-year in the AI as a Service sector in India
100 new startups have been founded so far in 2026 in the AI as a Service sector in India. 180 AI as a Service startups in India were founded in 2024 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 100 |
2025 | 132 |
2024 | 180 |
2023 | 132 |
2022 | 63 |
2021 | 50 |
2020 | 43 |
2019 | 43 |
2018 | 21 |
2017 | 30 |
Stage-wise distribution of AI as a Service sector companies in India
Out of the total 960 AI as a Service companies in India, 232 have secured funding. Among them, 57 have reached Series A or higher, and 35 to Series B or beyond.
Founded - 960
Funded - 232
Series A+ - 57
Series B+ - 35
Series C+ - 26
Company Stage | No. of companies |
|---|---|
Founded | 960 |
Funded | 232 |
Series A+ | 57 |
Series B+ | 35 |
Series C+ | 26 |
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Funding Trends in the AI as a Service sector in India
Total funding year-on-year in the AI as a Service sector in India
The AI as a Service sector in India saw a total funding of more than $3.18B in the last 10 years. The most amount of funding has been in 2026 at more than $880M till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $880M |
2025 | $512M |
2024 | $500M |
2023 | $70.8M |
2022 | $582M |
2021 | $316M |
2020 | $188M |
2019 | $86.4M |
2018 | $31.9M |
2017 | $16.2M |
Recent Funding Rounds in AI as a Service in India
In the year 2026, till August 2026, AI as a Service companies in India have raised $880M in equity funding across 20 rounds.
In the same period last year (i.e. till August 2025), AI as a Service companies in India had raised $190M across 32 rounds.
So, 2026 has seen a 363.33% rise in funding in AI as a Service companies in India as compared to 2025.
Here are some recent, important funding rounds in AI as a Service companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 9093 | Aug 04, 2026 | ||
Series A | 7673 | Jul 22, 2026 | ||
Seed | 8303 | Jul 16, 2026 | ||
Series A | 8650 | Jul 16, 2026 | ||
Series C | 1559 | Jul 15, 2026 |
Top Investors in AI as a Service in India
Accel is the top investor in AI as a Service companies in India based on number of companies invested.
Here are some top investors in AI as a Service companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Menlo Park (United States) | ||
Redwood City (United States) | ||
Cambridge (United States) | - | |
London (United Kingdom) |
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M&A activity in AI as a Service sector in India
In the year 2026, till July 2026, 2 acquisitions happened in AI as a Service sector in India. Last year, in 2025, a total of 5 acquisitions happened in AI as a Service sector in India.
Here are some recent, important acquisitions in AI as a Service sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 09, 2026 | ||
Acqui-Hired | Apr 08, 2026 | ||
Business Acquisition | Dec 19, 2025 | ||
Business Acquisition | Nov 25, 2025 | ||
Business Acquisition | Sep 10, 2025 |
Acquisition trends in AI as a Service sector in India
Here are the acquisition trends in AI as a Service sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 2 |
2025 | 5 |
2024 | - |
2023 | 2 |
2022 | 5 |
2021 | 2 |
2020 | - |
2019 | 2 |
2018 | - |
2017 | - |
IPOs in AI as a Service in India
In the year 2018, till May 2018, 1 IPO happened in AI as a Service sector in India.
Here are some recent, important IPOs in AI as a Service sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
May 15, 2018 | National Stock Exchange (NSE) |
Colleges which produce the most AI as a Service companies in India
Companies founded by alumni from top colleges in the AI as a Service in India
Most number of AI as a Service startups in India have been founded by alumni from IIT Delhi, BITS Pilani and IIT Bombay.
College | No. of companies |
|---|---|
IIT Delhi | 28 |
BITS Pilani | 27 |
IIT Bombay | 24 |
IIT Kharagpur | 22 |
IIT Kanpur | 20 |
IIM Ahmedabad | 11 |
IIT Madras | 11 |
IIT Roorkee | 10 |
IIM Calcutta | 9 |
Anna University | 6 |
Total funding in AI as a Service companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' AI as a Service companies in India have raised the most funding among top colleges. IIT Bombay alumni are second, and IIT BHU alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $293M |
IIT Bombay | $251M |
IIT BHU | $230M |
IIT Kharagpur | $200M |
Wharton School | $58.4M |
University of Pennsylvania | $55.1M |
BITS Pilani | $48.2M |
Harvard Business School | $32.4M |
IIM Ahmedabad | $25.7M |
IIT Hyderabad | $22.9M |
Top News in AI as a Service in India
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Jio Haptik Unveils SOLO, an AI Growth Team for India's Solopreneurs and Small BusinessesBusinessnewsthisweek•Jul 07, 2026•Haptik
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Movate and Leena AI Partner to Advance AI-Led Employee ExperienceMedia Bulletins•Jun 02, 2026•Movate, Leena AI
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Qure.ai Earns FDA OK for 6 New AI Chest X-ray IndicationsMedical Product Outsourcing•Feb 26, 2026•Qure.ai
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Voice AI startup Arrowhead bags $3 Mn in seed funding round led by StellarisEntrackr•Jan 07, 2026•Stellaris, Dazzl, Arrowhead
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Former Haptik Co-founder Launches AI-Focussed VC Fund ActivateViestories•Dec 04, 2025•Haptik, Together
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qXR from Qure.ai obtains regulatory clearance for paediatric TB screeningIndiaMedToday•Oct 17, 2025•Qure.ai
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