IIT Grads Launch AI Startup, Raise $61 Million
In an inspiring tale of entrepreneurship, two alumni from IIT Kharagpur, Varun Vummadi and Esha Manideep, made headlines by leaving their high-paying job offers to establish their own AI startup, Giga. This bold decision has recently paid off, as Giga secured an impressive $61 million in Series A funding led by Redpoint Ventures.
Varun Vummadi shared his journey in a LinkedIn post, revealing that he had turned down a prestigious PhD offer from Stanford University and a lucrative job opportunity worth $525,000 as a quant trader. He was driven by a passion for solving complex problems in machine learning, which ultimately led him to entrepreneurship.
Similarly, his co-founder Esha Manideep left a promising career as a system engineer with an Indian high-frequency trading firm, where she was offered a salary of $150,000. Their commitment to their vision of transforming customer operations through AI technology is commendable and reflects a growing trend among young Indians to take risks for their passions.
Their journey resonated with many on social media, with comments expressing admiration and inspiration. One individual remarked, “Wow. Respect,” while others expressed a desire to follow in their footsteps, highlighting the impact of their decision on aspiring entrepreneurs in India.
Both Varun and Esha were recognized in the Forbes “30 Under 30 Asia” list in 2024, a testament to their remarkable achievements at such a young age. As CEO and CTO of Giga, they are on a mission to enhance customer experience through AI, with reputable companies like DoorDash trusting Giga for their customer operations.
Their success story serves as a beacon of hope and motivation for many young Indians contemplating the leap into entrepreneurship. The willingness to take risks and pursue one’s passion can lead to incredible opportunities and impactful innovations in the tech industry.
As the Indian startup ecosystem continues to flourish, stories like that of Varun and Esha will undoubtedly encourage more individuals to follow their dreams, contributing to a vibrant future for technological advancements in India.
