Mad Street Den’s Passion for Artificial Intelligence. Yes the startup was founded by couple who were love in each other. They aptly named their company as Mad Street Den and Mad stands for ‘Mind Abled Devices’. The company has developed cloud based platform product based on Artificial Intelligence.
MADstack, the platform developed by Mad Street Den offers Artificial Intelligence and computer vision through its cloud based platform to business around the world. MADstack offers object recognition, gaze tracking, emotion expression detection, head and facial gestures, 3D facial reconstruction are all designed to help user. The platform delivers exciting new experiences for end users may be in fashion industry, gaming, Internet of Things, Robotics, Automotive or Analytics. The company will ensure an increase in consumer engagement.
For ex: If a user want to purchase a dress which he/she might have seen in shopping mall or party. The App allows taking that picture and searches for the same dress in online for shopping portal. The platform provides inputs to the user on visual qualities of clothes that they are looking for.
Timing of the product launch was perfect, Indian online portal industry is witnessing lot of changes and development in terms of quality and feel of the product. Many online portals are getting funded enormously and the segment is poised for higher growth.
Mad Street Den is in talks with several online portals for introduction of their platform in their services by summer 2015.
The Chennai based company was founded in 2013 by husband and wife team. Ashwini Asokan, Chief Executive Officer of Mad Street Den. She did her Masters in Interaction Design from Carnegie Mellon University in 2005, graduated in Bachelors of Visual Communication from MOP Vaishnav College, Madras University.
She started her career in Imprint Color Graphics as Graphic Designer in 2002 and later moved to Intel Corporation in 2005 as Design Researcher, Digital Home Group division. In 2010 she joined another Intel company IXR (Interaction and Experience Research Lab) as Mobile Portfolio Manager, where she handled a group of designers, anthropologists and software engineers.
Ashwini has several patents in her name, Methods and Apparatus for Improving User Experience which was issued in the US in 2012 and 2014. She has published several papers on technology in various forums.
In 2013 she founded Mad Street Den with her husband Anand Chandrasekaran. Anand is Co Founder of the company is Chief Technology Officer. He is ex alumni of Indian Institute of Technology, Madras in Bachelor of Technology, Electrical Engineering. Anand has done PhD in Neuroscience from Baylor College of Medicine, Houston, Texas. He started his career as Graduate Student in Baylor College till the end of 2006. Later he joined as Post Doctoral Scholar in Stanford University where he built Neurogrid, a Neuromorphic system which stimulates a million neurons in real time. He worked in the Stanford University till the end of 2009. In 2010 he joined Evolved Machines Inc., as Research Scientist. Anand developed neural algorithms capable of solving real world sensory classification problems.
In 2011 Anand joined Zort Technologies as a Consultant. He assisted several companies like Evolved machines, Informed Simplifications LLC and Triradiate Industries LLC. He developed custom machine learning algorithms, neural simulation and evolutionary algorithm software development.
Mad Street Den received their seed funding on January 30, 2015 for $1.5 million from 2 investors namely GrowX Venture Management and Exfinity Fund. GrowX Venture Management invests in company that are in ideation stage, prototype, proof of stage and early revenues startups. They have invested in several diverse ventures such as AdSparx (Video ad tech platform), FortunePay (e-Payment processing), ShepHertz (cloud platform for app developers), Zolijns Designs (Furniture and Furnishings), Aspire Bariatrics (Hospital Sector) and Quandl of Canada are few to be named.
On the other side Exfinity Fund earlier known as Reservoir Investment Managers was started last October. The venture capital firm headed by IT bigwigs includes V Balakrishnan and Mohandas Pai ex Infoscians. Based out of Bengaluru the fund invests in early stage startups and has seeded several startups such as Virtual Power Systems, GLENTEL, RiverSilica, Aspire Bariatrics and Mad Street Den. Their first investment was in RiverSilica, they funded around $20 million.
After funding V Balakrishnan of Exfinity Fund, said “The founders have a formidable track record in the Silicon Valley. Mad Street Den offers AI and Computer Vision as a plug and play solution to business around the world. Their platform – the MADstack offers a wide range of computer vision modules to deliver exciting new experiences for their consumers.”
Mad Street Den is planning to release their services and applications based on its technology. Asokan said that the products are conceptualized and waiting for appropriate time to launch. After funding he further said “We weren’t planning to raise but word spread like crazy….and the VC’s descended. People are already knocking on the door about our Series A…by the summer, when we should start seeing our products in the market, and then we’ll be ready.”
The company plans to increase their headcount by hiring senior people by end of the year whom they are connected with.