India Innovation Fund invests in personalized analytics startup, iKen Solutions
iKen Solutions Private Limited, an IIT Bombay research spin-off has received funding from India Innovation Fund (IIF). Co-promoted by Dr.Rajendra M. Sonar, a professor at IIT Mumbai and serial entrepreneur Siddharth Goel, iKen Solutions has developed Mooga, a state-of-the-art hybrid artificial intelligence analytics framework for personalization at the individual consumer level in real time.
The technology will enable consumer centric companies in Telecom, Digital Content Delivery, Media, Internet, and Banking and Financial Services provide a high degree of personalised service to their customers.
Mooga can integrate into any web service, application, or access interface that aims to deliver personalisation at an individual level. With algorithms that combine multiple artificial intelligence techniques, it overcomes prevalent challenges in content discovery; treating individual customers according to their personal tastes and behaviours; monetizing content; reducing customer churn and carrying highly targeted campaigns.
Mooga uses machine-learning techniques along with business rules, hence it can adapt to any situation where personalization is the key. Applications of the framework includes recommendations & personalizations for Operators/Mobile VAS services, prepaid life cycle management etc.
Sharad Sharma, former CEO, Yahoo R&D, India, and Ashwin Raguraman, Vice President, IIF will join the board of iKen Solutions as India Innovation Fund nominees.