Sapio Analytics Success StoryÂ
Sapio Success Story Founded by former senior government officers, social entrepreneurs, and technology experts, Sapio Analytics aims to provide the most intelligent AI-powered policy-making solutions for government institutions across the world. Basically, Sapio helps government create and execute policies through decision support systems powered by artificial intelligence.
Sapio Analytics is currently valued at 100 million USD and it targets to achieve a valuation of 1 billion USD by 2022. With more than 15 million citizens under its direct and deep impact, Sapio targets to directly impact 100 million more in a year.
Sapio Analytics – Company Highlights
- Startup Name-Sapio Analytics
- Founders-Prashant Nikam, Ashwin Srivastava, Hardik Somani, Shripal Jain, Viral Vora, Arpit Palod
- CEO-Ashwin Srivastava
- Headquarters-Mumbai
- Founded-2019
- Industry-Artificial Intelligence, Analytics
- Valuation-100 million USD (as of 2021)
- Website-sapioanalytics.com
Sapio Analytics – About and Vision
Sapio Analytics provides an artificial intelligent government support system, to various governments, as well as tools to capture the voice of the citizens by providing them a plethora of solutions for their growth.
Its long-term vision is to create a world where governments are driven by data and data is driven in real-time by the voice of the citizens. In the short term, the startup is working on transforming the lives of citizens by recommending and executing government policies through decision support systems powered by artificial intelligence.
Sapio Analytics – Market/Industry Details
Based on the budget data provided by the Government of India, 411 billion USD is targeted to be spent by the central government alone. Sapio’s market size is around 2% of the same, as decision-making can create an impact that saves costs from 2-10% and makes things much more efficient. Taking the budget of Africa and various other developing countries, the overall direct market size becomes more than 40 billion USD annually. And the startup is at the forefront of driving this today, expecting at least 50% of the market for it.
In addition, part of the budget dedicated towards execution and share of revenue with the governments (part of the GDP increase done through us) make for a higher market size. With digitization becoming mainstream, the growth rate is unpredictably high.
Sapio Analytics – Founders and Team
Sapio’s founders are a combination of former senior government officers, social entrepreneurs, and technology experts. Prashant Nikam (former IRAS, former Director of Police, MHA), Ashwin Srivastava (serial entrepreneur with multiple multinational companies and successful exits), Hardik Somani (social entrepreneur), Shripal Jain (government entrepreneur), Viral Vora (construction, infrastructure, and transport expert), and Arpit Palod (IIT Bombay alumnus, data genius) form the core team of founders.
Founding team of Sapio Analytics
Sapio Analytics Founders
The current company size is around 200 including various subsidiaries and interns working with the company. The size is constantly growing.
If someone has a desire to become a part of the history of this world, contributing to the creation of the world’s first artificially intelligent government, they can join Sapio Analytics!
Sapio Analytics – Idea & Inspiration
Through the founders’ close works with governments, they realized that there exists a significant gap between the use of data science and the government’s decision-making. Their aim was to fill this gap. Once they started filling this gap, the founders further realized the kind of impact decision-making through data analytics can bring. They saw the potential of economic transformation happening. The founders saw that healthcare, law enforcement, geopolitical relations, and every aspect of governance can be impacted sustainably through the use of artificial intelligence-driven by dynamic sources of citizen data.
“The response from them was mixed. There were some who believed that what we are doing has been in their minds for a long and yet they have been unable to do anything about it. Some offered to join us, as they could see us doing what they have always wanted to do. Some others felt what we were talking about was impractical due to red tape within governments at all levels. There were few who appreciated the wishful thinking but cautioned us against the challenges of creating a new market altogether” – says Ashwin Srivastava, CEO, Sapio Analytics.
Sapio Analytics – Product/Service
The product works in 3 stages:
There have been multiple small changes in the product throughout its journey, all evolution happening based on new data inputs that Sapio Analytics gets from citizens and governments.
Today, Sapio Analytics has the following main divisions within its organization:
- Economic Growth Division: This focuses on increasing the GDP of a state/country, and involving both individual citizens and businesses in the process
- Local Administration Division: Hyperlocal analytics is its core expertise, and this division focuses on the same, working at all local governments’ level
- Law Enforcement and Intelligence Division: Helping law enforcement agencies, as well as intelligence agencies, use the power of digitization and artificial intelligence is the core goal of this division
Sapio Analytics – Subsidiaries & Acquisitions
Besides running the above-mentioned divisions, there are a number of companies that partly owned subsidiaries or part of the group through control over the same
Sapio Parthiv Heritech (Private Limited): This subsidiary uses the power of its Heritage and Culture division and is focused on providing innovative beautification and advertisement options to outdoor real estate. It works closely with governments, local bodies, and advertisers, and is transforming the world of advertisement forever, through the use of smart beautification and intelligent communication
Saksham Score (Private Limited): This is another subsidiary owned by Sapio Analytics, and is aimed at knowing every citizen of a developing country in a way that their trustworthiness in any skill or behavior they are supposed to display can be quantified. This becomes the future of any form of social or credit or employability rating.
Sapio Bharat Incubation Center: India’s first incubation center for government technologies and citizen impact in the interiors of India
Sapio Foundation: Sapio Analytics’ foundation is geared towards using the CSR budget of companies towards the achievement of core goals and vision of the leaders of India, establishing India’s significance in the world
KGS Microsystems LLP: It is Sapio’s new acquisition that is now India’s largest Smart Digitization Company
In addition to the above, Sapio Analytics also has a shareholding in Technology-enabled Insurance Aggregator InsureEfficient, and LC financing company LC Bidding. Both companies are transforming the space of financing and insurance in the interiors of India, with physical offices in 70+ locations. Other new subsidiaries, such as MSME Jagat, are in the process of creation.
Sapio Analytics – Name, Tagline and Logo
Sapio stands for intelligence, and the startup derives intelligence out of data. This is how the team came up with the name. They wanted a name that could signify intelligence of data all around us and make us realize that we are missing the power of the same if we do not use them to create AI.
Sapio Analytics’ tagline – Impact, Influence, Improve – shows the startup’s desire to create an impact on the citizens, influence policies by the governments, and improve the lives of all of us creating a transformation in the world of governance.
Sapio Analytics – Business Model & Revenue Model
Sapio Analytics’ core business model lies in working with the governments and providing them solutions that can be used on a recurring basis, while also helping them earn more revenue and take a part of the same for it, as a reward for increasing the GDP.
Sapio Analytics – Startup Launch
Once the startup had some governments on board, they got access to citizens through them, and then the cycle of getting more governments onboard was created.
The large-scale growth happened with COVID-19. And it was not out of any desire to do any growth hacking or marketing.
“When COVID-19 hit us, we decided to pause all our works for some time and give our lives to solving the problem using our technologies. Our team members did not sleep while we slogged trying to create an impact by saving lives. And we believe we saved millions of them” – Ashwin added.
The best part of this strategy was that it was not a strategy! Though many brands tried to create a strategy out of this misfortune, Sapio Analytics just went about solving the problems. And, strategy happened to the startup organically.
Sapio Analytics – Challenges Faced
Challenges are common in a business that is creating a new market. When the founders approached clients (in form of governments) or even distinguished citizens, they were told by some that India is not ready for such a transformation where decisions will be taken by AI. Some leaders even feared that AI may take over their decision-making powers.
“Nothing speaks better than success, and we started getting success by this first set of successes” comments Ashwin.
Sapio Analytics – Growth & Statistics
Sapio Analytics is currently valued at 100 million USD and the target is to achieve a valuation of 1 billion USD in the coming year (2022). With more than 15 million citizens under its direct and deep impact, the target is to directly impact 100 million more in the coming year.
Confirmed contract values across its various companies cross 13 million USD with a few months in the year to go. With some new partnerships and contracts in the pipeline, the target valuation is very much insight.
The company is open to strategic funding at a special valuation for special players who would be interested in becoming part of its journey in the long term.
Sapio Analytics – Funding
Sapio Analytics is primarily bootstrapped with only strategic funding.
Sapio Analytics – Advisors/Mentors
Sapio Analytics has a large pool of mentors, advisors, and strategic partners, including leaders apart from founders who are part of the core leadership team.
Some of the names in the Global Advisory Board
Lt Gen K J Singh (former Commander in Chief, Current CIC)
Nooryusazli Yusoff (new-age technology leader based out of Indonesia)
These leaders come from various backgrounds in the government, business, and corporate leadership, having collectively managed billions of dollars of budgets.
- Dr. B S Tiwary
- Ashok Gowani
- Gaurav Aggarwal
- Kamal Maheshwari.
Sapio Analytics – Competitors
Palantir Technologies in the US is a major competitor though they do not focus on the countries Sapio Analytics is active in. The startup is even called Palantir of Developing Countries by various supporters, because of the same.
In addition, Sapio Analytics believes that it competes with the major consulting companies and big tech companies such as Google as well, though it believes in growth through collaborations.
Sapio Analytics – Recognitions/Achievements
“Rewards and recognition are aplenty, but we have not focused ourselves on any, as our biggest achievement to date is impacting the lives of citizens and causing an economic transformation. Testimonials from leaders such as the Prime Minister are also bigger than any awards” says Ashwin, CEO, Sapio Analytics.
Sapio Analytics – Future Plans
Sapio Analytics is expanding to the world. Guyana is a country that recently found oil and is taking its journey from being developing to a developed nation. Sapio’s partners are driving this journey and they are supporting them with data. This is just an example of Sapio Analytics’ planned geographical expansion.
Sapio Analytics – FAQs
What is Sapio Analytics?
Sapio Analytics aims to provide the most intelligent AI-powered policy-making solutions for government institutions across the world. Basically, Sapio helps government create and execute policies through decision support systems powered by artificial intelligence.
Who are the founders of Sapio Analytics?
Prashant Nikam, Ashwin Srivastava, Hardik Somani, Shripal Jain, Viral Vora, and Arpit Palod form the core team of founders.
How much is the valuation of Sapio?
As of 2021, Sapio Analytics’ valuation stands at 100 million USD.
Is Sapio an Indian company?
Yes. Sapio Analytics is an Indian company headquartered in Mumbai, India.
Who are the competitors of Sapio Analytics?
Palantir Technologies in the US is a major competitor though they do not focus on the countries Sapio Analytics is active in. The startup is even called Palantir of Developing Countries by various supporters, because of the same.
Is Sapio funded?
Sapio Analytics is primarily bootstrapped with only strategic funding.
What is Sapio’s tagline?
‘Impact, Influence, Improve’ – shows the startup’s desire to create an impact on the citizens, influence policies by the governments, and improve the lives of all of us creating a transformation in the world of governance.