6 days ago

AI’s Next Act: Wealth Management, Logistics, Kitchens and Power Grids

Artificial intelligence is increasingly finding its way into corners of the economy where consumers may never notice it.

At a startup showcase hosted by venture capital firm Antler India on Tuesday, five young companies presented technologies that use artificial intelligence and deep engineering not to generate text or images, but to solve problems in banking, personal finance, logistics, energy storage and even home cooking. The companies reflected a broader shift in India’s startup ecosystem.

Addresing inefficiencies

Rather than building general-purpose AI assistants, entrepreneurs are increasingly targeting industries burdened by inefficiency, complex regulation or high operating costs, betting that narrowly focused AI systems can create measurable business value. One such company, Rovia, is targeting a growing class of professionals whose compensation comes in the form of Restricted Stock Units, or RSUs, issued by US-listed technology companies.

Managing those awards — deciding when to sell, navigating tax rules and balancing portfolios — has become an increasingly complicated financial exercise, particularly for employees spread across multiple countries. Rovia said its AI platform analyzes brokerage accounts, vesting schedules, tax implications and stock-plan documents to provide personalized guidance.

The founders, Arnav Grover and Shivang Badaya, estimate that employees receive roughly $500 billion in equity compensation each year from publicly listed American companies, with Indian-origin professionals accounting for more than $100 billion of that total. The startup said it is already advising on more than $100 billion worth of stock awards within months of launching.

In banking, Resollect is applying AI to one of India’s most cumbersome financial processes: recovering secured loans that have turned into non-performing assets.

The company estimates the addressable market at roughly ₹4.5 lakh crore. Founder Abhishek Rao said lenders often spend more than 400 days moving from default classification to auction because legal procedures, documentation and vendor coordination remain largely manual.

Resollect’s platform automates legal notices, compliance tracking, documentation and workflow management. The company says the process can be shortened to about 150 days, potentially reducing costs and allowing lenders to recover capital more quickly. Resollect reported annual recurring revenue of ₹6 crore at the close of the last financial year and expects that figure to increase fivefold this year.

Artificial intelligence is also making its way into the kitchen. Cravv has developed a cooking assistant that watches meals as they are prepared, using computer vision, temperature sensors and voice interaction to tell users when to lower the heat, flip food or add ingredients. Unlike conventional recipe applications that simply list instructions, the system attempts to interpret what is happening in real time.

Its founders, Manthan Desai and Prithvi Shetty, said the company has built a proprietary dataset by breaking recipes into thousands of visual, thermal and timing signals. After early trials with about 50 users, Cravv plans to expand to 100,000 devices over the next year.

In logistics, Aspera Industries is pursuing a more ambitious goal: making air cargo dramatically cheaper. The company unveiled an autonomous cargo seaplane called Eureka, designed to combine the speed of aviation with operating costs closer to maritime shipping.

Founder Khushi Mittal said the overwhelming majority of global freight still travels by sea because conventional air cargo remains prohibitively expensive.

The aircraft is designed to carry one metric ton of cargo over 2,000 kilometers using retractable hydrofoils for water takeoffs and landings and a pilotless, cargo-first design. Aspera says operating costs could be a fraction of conventional air freight while cutting delivery times dramatically. The company plans to begin prototype testing within weeks and aims to seek certification in New Zealand before commercial pilot operations.