Xane AI is a Gurgaon based startup founded by Ayush Jain.
Xane is on the mission to provide all the organizations with qualitative data by engaging employees, customers and other stakeholders in conversations with bots using Artificial Intelligence and Machine Learning, then build analytics over it to help the management make informed decisions, says Ayush.
We got an opportunity to know about the startup, it is an inspiring story of the founder. Read his full story to know more about the founder, Ayush.
Give a brief info about your startup?
Xane AI is an Artificial Intelligent Chatbot which aims at revolutionizing feedback practice in the organizations. Xane is on the mission to provide all the organizations with qualitative data by engaging employees, customers and other stakeholders in conversations with bots using Artificial Intelligence and Machine Learning, then build analytics over it to help the management make informed decisions.
What made you start your startup and what problem does it solve?
It was a lecture course at IIT Delhi which did not interest me at all. But it appeared to me that this is the course which I opted on my own then why am I not interested. This was because of multiple reasons because the only credible source for students to know about the trajectory, of course, was the curriculum description, but it was not completely followed and moreover it didn’t convey much about the approach of the professor. It appeared to me if there is a platform where the real-time feedback of courses could be seen, it would be beneficial for the students. I shared this idea with my friends, and they were up for it. Along with my two friends, I started working on building the platform.
I started figuring out a robust business model around it which wasn’t a ‘Burning model.’ As soon as students began using the platform, I got some resistance from professors for doing this which led me to follow top to bottom approach for colleges. But it was a challenge to reach out to owners of colleges directly. Meanwhile, some of my relatives who were working with MNCs suggested that the feedback system that I was trying to build will work more with corporates and IT companies because their current feedback systems are not effective. Then I started researching about the current feedback systems in companies, and I discussed it with the Head HRs of few corporate companies in Gurgaon. They helped me to get to this product which we have today.
Tell us about yourself, your previous jobs/ventures? What were you doing before this startup?
I started this venture just after completing my graduation from IIT Delhi in May 2017. Bootstrapped this venture from the development of the product to selling it to organizations and getting first set of paying clients.
Where is your startup based out of? Why do you think that is the best place for you?
We are based out of Gurgaon, which is a new-age start-up owners place as it has ever-increasing small business and e-commerce companies in the city.
As a startup founder, what are you paranoid about? What keeps you awake at night?
When someone is walking down a road or even in relationships in our lives, we all face challenges. It is just that you have to be focussed on what you want to be and this is something that I have to question myself often that “Am I deviating from what I want this company to be? Should I go down the path the opportunity has asked me to take? ”
Who are your competitions and how are you better than them?
Other companies have also started, some of them way before we started. But the way we look at this is not about just building chatbots but we are more inclined towards analysing the data that is coming in. Our core competence lies in analysing data and converting it into actionable formats.
How hard is it to have a work life balance as a startup founder and how do you manage it?
I believe initially “Your Work is Life.” But I do sometimes take breaks in order to break the monotony.
Have you raised funding? If yes, then we would like to know the details. If no then please tell us if you are looking to raise.
Yes, we have raised a Friends and Family round which got closed in February 2018.
What’s the biggest misconception people have about you? Why do they have that? What’s the reality?
I am not sure about that. But I believe people take their younger ones lightly. It is just from what I have observed and is not targeted to anyone J
What gets you excited about this company?
We are working on AI chatbot & AI is a new factor of production and has the potential to introduce new sources of growth, changing how work is done and reinforcing the role of people to drive growth in business.
Tell us how a day in your life looks like? Your schedule for a day right from the time you get up till you hit the bed at night.
Majority of my days typically start from 8 in the morning and ends at 2-3 in the night.
Tell us about your team and how did you meet each other?
Building a team of dynamic and motivated individuals who would join me on this journey was a huge challenge. Finding people who would work for less compensation, no fancy office, and a single founder company was challenging. Also, making them believe in the idea and its potential was another barrier especially when you are just 6 months old as a company.
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