Rifa AI

                                       

IIT Bombay alumni Mr. Sameer Fulzele (B.Tech., Aerospace Engineering, 2020) and Mr. Shubham Khoker (Dual Degree, Mechanical Engineering, 2021) are making waves in the global AI ecosystem with their startup, Rifa AI, which recently raised $1.1 million in funding led by Seaborne Capital. Founded in 2023, the company is building enterprise-grade conversational AI platforms that bring human-like voice automation to highly regulated industries such as healthcare, insurance, and financial services. By ensuring every AI-driven interaction is policy-compliant, Rifa AI is tackling one of the toughest challenges in scaling voice workflows for mission-critical sectors.

Read more about Rifa AI’s funding success and vision here: The Economic Times / Indian Startup News / Startup News

As Rifa AI expands into North America and strengthens its product capabilities, the journey of its IIT Bombay founders exemplifies how alumni are translating deep technical expertise into entrepreneurial ventures that redefine industries. Their success is another reminder of IIT Bombay’s enduring role in nurturing innovators who drive global impact.

 

Manastu Space

Left: Ashtesh Kumar, Co-founder and CTO, Right: Tushar Jadhav, Co-founder and CEO

Image Courtesy: Entrepreneur India

IIT Bombay alumni and CEO of startup Manastu Space, Mr. Tushar Jadhav (B.Tech. + M.Tech., Aerospace Engineering, 2014), and CTO, Mr. Ashtesh Kumar (B.Tech., Mechanical Engineering, 2017), are reimagining sustainable space technology. Manastu Space has raised $3 million in an extended Series A round led by Capital-A. The funding will accelerate the commercial deployment of their green propulsion and debris-avoidance solutions and support in-orbit services such as refuelling, deorbiting, and mission-life extension, positioning Manastu at the forefront of eco-friendly satellite operations globally.

Founded in 2017, Manastu has already demonstrated its environmentally safe propellant in orbit and is expanding operations across the US, Europe, and Asia. The startup highlights how cutting-edge research is translating into practical innovations with global impact.

Read more about Manastu Space’s funding and mission here: Entrepreneur India  / BW Disrupt / Tech in Asia

As Manastu Space scales globally and drives sustainable satellite propulsion, the journey of its IIT Bombay founders exemplifies the Institute’s continuing role in shaping innovators who build for India and the world.

 

Parallel Web Systems

Parag Agrawal

Image Courtesy: LinkedIn

IIT Bombay alumnus Mr. Parag Agrawal (B.Tech., Computer Science and Engineering, 2005) has launched his AI startup, Parallel Web Systems, marking a bold return to Silicon Valley after his tenure as Twitter CEO. Founded in 2023, the venture has already raised $30 million from leading investors, including Khosla Ventures, First Round Capital, and Index Ventures. Parallel Web Systems is designed to give AI applications real-time access to the public web, using eight different research engines to fetch, organize, verify, and evaluate data, outperforming both humans and top AI models in independent benchmarks.

A graduate of IIT Bombay and a PhD holder from Stanford University, Mr. Agrawal’s academic rigour laid the foundation for his career in AI and leadership. His journey, from research internships at Microsoft and Yahoo! to CTO and CEO of Twitter, has now come full circle, blending deep technical expertise with entrepreneurial ambition in the AI space.

Read more about Mr. Agrawal and Parallel Web Systems here: The Times of India / Live Mint / Exchange4Media.com / Entrepreneur India / Coin Telegraph

With Parallel Web Systems, Mr. Agrawal’s work highlights the transformative potential of IIT Bombay alumni in global technology, showing how a strong educational foundation can catalyse innovation that reshapes industries and sets new benchmarks for AI-driven research.

 

Upliance 2.0

Image Courtesy: Indian Express

IIT Bombay alumni Mr. Mahek Mody (B.Tech. + M.Tech., Mechanical Engineering, 2011) and Mr. Mohit Sharma (B.Tech.+M.Tech., Civil Engineering/Structural Engineering, 2011), and co-founders of Bengaluru-based startup Upliance AI, have unveiled Upliance 2.0, the next generation of their smart cooking appliance. Designed to bring simplicity and speed to everyday kitchens, the new version combines generative AI with practical cooking science.

Some of the key Features of Upliance 2.0 include:

• Faster heating up to 160°C for quicker meal preparation
• AI-powered recipe generation with 750+ guided recipes, accessible offline
• Dietary variants including low-oil, high-protein, high-fibre, kid-friendly, and Jain options
• Built-in weighing scale with macro-tracking for nutrition management
• Smarter motor control for seamless chopping, stirring, and cooking in a single jar
• User-friendly design with a detachable blade, glass lid, and easy-to-clean accessories

 

The founders say Upliance 2.0 builds on insights from the first version: India’s home cooks want speed, variety, health-focused options, and joy in everyday meals. Their motto, “Real Food. Zero Fuss,” captures the vision behind the upgrade.

The startup, backed by Khosla Ventures and featured on Shark Tank India (Season 3), continues to push the boundaries of AI in home kitchens. The launch of Upliance 2.0 has already been reported across leading outlets, including:

Indian Express / The Times of India / The Economic Times – Panache / Times Now

Upliance 2.0 is more than just a smart appliance. It reflects the bold vision and problem-solving spirit nurtured at IIT Bombay. As alumni like Mr. Mody and Mr. Sharma reimagine everyday living through innovation, they reaffirm the Institute’s enduring legacy of empowering its graduates to transform industries and improve lives.

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