Linear Squared, specialising in data science, machine learning and Artificial Intelligence-driven advanced analytics solutions, has ended 2017 with a multitude of wins including attracting new investments, the appointing of a new Chairman, welcoming of new clients and the launching of two new data-driven products to the Sri Lankan market.
Year 2017 saw Google India Vice President Rajan Anandan being appointed the Chairman at Linear Squared after the venture capital firm he co-founded, BOV Capital, invested in the company after recognising its potential to develop AI solutions for global markets out of Sri Lanka.
“The appointment of Rajan and the funding round led by BOV Capital certainly helped us capitalize on new growth opportunities,” commented Linear Squared Co-Founder/CEO Dr. Sankha Muthu Poruthotage.
The year also ended on a high note in terms of product innovation with the company launching two new products into the market: Capacity Squared, an Artificial Intelligence driven planning assistant for the apparel industry and ForecastSquared, a Machine Learning-driven forecasting model for the FMCG sector.
“Our focus is to provide end-to-end data-driven solutions to complex business problems, leveraging sophisticated algorithms, cutting-edge technology and domain expertise. Therefore we spent considerable time understanding the apparel industry before coming up with the AI-driven algorithm for Capacity Squared,” Sankha explained. Currently patent pending, Capacity Squared is designed to achieve optimal plant-level efficiency in under five minutes and functions on an AI algorithm which mimic the learning process of a human brain.
The second product, Forecast Squared developed with the FMCG sector in mind sets the entire process of forecasting into an algorithm. In a typical scenario, a data scientist would need weeks to analyze data before making an accurate forecast. Forecast Squared has taken the data scientist out of the equation, for quicker, more accurate and scalable forecasts.
“Forecast Squared is a comprehensive forecasting model which incorporates dynamic macro-economic factors in addition to firm/industry specific variables into making highly accurate outlet, regional and national level forecasts, run simulations and quantify inter-brand dynamics,” explained Co-Founder Rajith Munasinghe.
The year ended with the company signing several global giants in FMCG and Telco respectively as clients. This was in addition to the existing portfolio which already included several heavy-weights in telco, FMCG, IT and apparel.
Commenting on the company’s plans for the future, Rajith stated: “Also in the pipeline is a sophisticated predictive model for estimating credit loss in view of new accounting regulations under IFRS9. This solution is already piloting at some leading financial institutions. In addition, we will continue to build solutions to solve specific problems that are common and scalable in a global sense.”
“We’re delighted to experience such healthy growth as a company, but it’s also a reminder that we’re doing things the right way, and people are taking notice. Leading the growth in a new market and selling products that challenge the rules of the game are never easy. I’m proud of this team and our hard work and look forward to continuing this momentum into 2018,” Sankha added.
Linear Squared is one of the very few specialist data analytics solutions company in Sri Lanka and is funded by BOV Capital, the first Sri Lanka - Singapore based venture capital fund focused on Sri Lankan ventures. With the largest pool of specialist resources in Sri Lanka in AI, ML and other big data technologies with globally renowned academic and professional training in data science, Linear Squared specialises in developing end-to-end solutions that cut across all three verticals of big data; data management, analytics and reporting.
Rajan Anandan from BOV Capital is the Chairman of Linear Squared. Along with him, Prajeeth Balasubramaniam (BOV Capital), Jithendran Gajendran (JLN Investments) and Dr. Sankha Muthu Poruthotage form the Board of Directors of the company.