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The seed fund of the International Institute of Information Technology (IIIT-Hyderabad) has invested in NicheAI, an early stage Artificial Intelligence start-up that designs “accurate and computationally light algorithms to solve computer vision problems”.
The start-up has been assisting insurance companies analyse images and videos to disburse insurance claims. Some other firms also use its solutions to develop AI systems to generate real-time insights from videos and images.
The one-year-old start-up was initially accelerated in IIITH's Avishkar, a dedicated accelerator programme for deep tech ventures. It recently closed its angel funding from IIITH Seed Fund, Times Internet, IIIT-H Foundation and other HNIs.
"Solutions using computer vision can improve efficiency and accuracy in several industries such as insurance, roadways and manufacturing,” NicheAI, Ajay Jain, Cofounder of IIITH Seed Fund, said.
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