Apurva Udeshi was an investor in startups before himself becoming a founder of two tech-led startups that are gaining clients from overseas. Udeshi is a founding member of the Lanka Angel Network, a group of investors with a passion for promoting entrepreneurs by providing early stage angel funding. He founded his own first business, Zeptolytics, a cloud-based AI solutions company that serves the midtier financial firms and is popular with insurance companies.
“Something deep down said I wanted to do something in the tech space. One of the problems I wanted to solve is the challenge around data.”
“Something deep down said I wanted to do something in the tech space. One of the problems I wanted to solve is the challenge around data,” Udeshi says about what led him to start a company in addition to managing the family wealth. Udeshi says Zepto’s product is simple to use and allows a manager to extract insights that would otherwise require a data scientist to glean. “Our whole goal, was how can someone without technical knowledge analyse data? That is a challenge because you have to build a platform that is so simple to use, so ideally a person without any specialised knowledge can use it.”
The platform is capable of Natural Language Processing (NLP), meaning a user can ask a simple question to get the data out. Besides the simplicity, the AI tech in the platform can analyse data looking for such useful things as correlations, anomalies and trends. He says the team is now building the predictive analytics module. “It will be able to predict if the weather changes, what is the impact going to be on your sales. We have a beta version which we are testing with some of our clients who are mostly from the financial services sector.”
Recently he launched a services company called Avantrio that is deploying custom solutions with blockchain, AI, data mining and information retrieval. For Avantrio, he already has some clients from the U.S. and Europe who are using their services. Avantrio is a services company but together with his co-founders, Udeshi expects to build a cloud-based product with Avantrio too. Udeshi also manages the family wealth, which he invests across multiple asset classes including real estate, fixed income, private equity, startups and listed equity. He says the fixed income trading business is relatively large.