Bangladesh
Market: Internet and IT, Information and media, Services, Financial services, Artificial Intelligence
Stage of the project: Operating business
Being perplexed at the complexity, variations, manual labor, money & time to utilize Data, Organizations lose 5x+ Business value. Socian solves that with Conversational AI & Analyzing on ConsumerBuzz!
Current Status
All value are in USD -
Year Contract Delivered Revenue
2019 65,187 65,187 65,187
2020 108,980 108,980 99,250
2021 141,295 129,340 117,743
2022-Q1 46,511 35,947 35,947
Market
Business Organizations -
Local + Global: FinTech Transport Companies Food Delivery Ecommerce Groceries MSME
Problem or Opportunity
When it comes to the Organizations, they spend a lot of money & resources on marketing but for not understanding variations & complexity of natural Data, they lose significant ROIs (4x+).
And when it comes to the elderly, uneducated people, or time-sensitive consumers, due to not being used to Smart Apps & Services, they lose a good amount of Consumers!
Socian solves this problem by the Conversational AI that helps people communicate with each other in traditional ways by Automating Human Agents alongside analyzing Data coming from Social Media, News & Conversational AI (Voice & Text)
Solution (product or service)
We crafted a Voice+Text based Conversational AI, Alap, where users use their native language to ask questions & listens to the responses making the service-taking a lot easier.
We also have our NLP Tool, Consumer Buzz, that analyzes Data coming from Conversational AI, Social Media, News Media & others in real time & helps brands increase ROIs 4x+!
Our APIs and SDKs can be connected to any App, Website, Software & System, used worldwide & are customized for different industry-specific use cases. We have Enterprise Consumers in 7 languages in 6 countries. Just plug & play & BOOM!
1. Customized Solutions for Business needs - ensures Higher accuracy and better performance (Accuracy 99% - WER 1%). 2. Full Solution for the Customers' needs. 3. Conversational Engine as Plugins or APIs - better deals for customers and easily customizable. 4. Generating Sentiment and Topic analysis for the consumers 5. Actionable insights 6. The Initial R&D of the company started in 2014 and the official journey started in 2016 - the result of a long working R&D
Finance
Revenue >> Service: Average Basket Size (B2B): USD 25K API as a Service - Installation Fee (Customized): Starting from: USD 2.5K Per Operation Cycle: USD 0.02 (Decreases with Volume)
We generate revenue from Custom AI Solutions, Services & Automation serving Enterprises to Government along with different Products that serve the masses:
1) One Time Cost & Maintenance:
We Produce Custom AI-powered Enterprise Solutions and Products that we sell in one-time mode with a maintenance fee
2) Subscription Revenues:
Products are sold on SAAS Model with Initial Onboarding Fee + Monthly Subscription
3) Product Profit Partners:
For some Enterprise Solutions, we go to One Time Cost + Profit Sharing
1. Big players (More money) 2. Shortage of Bigger Fund - for going into the market with own products.
Incubation/Acceleration programs accomplishment
1. Grameenphone Accelerator - Batch 02 2. eFounders Fellowship - Class 04 by UNCTAD & Alibaba Group
Won the competition and other awards
1. Telenor Digital Winner - Best App in Asia 2014 2. Telenor Digital Winner - 2016 3. Seedstars Dhaka 2016 Finalists 4. Top 100 Startups - Echelon Asia Summit 2016 & 2017 5. Top 100 Startups - Rise Summit 2017 6. BASIS National ICT Award 2018 - 2 Awards