New Delhi, Mar 21 (IANS): Artificial intelligence (AI) has opened new doors for Indian startups and young entrepreneurs who have raised just $1-2 million are way ahead of deep-pocketed startups from the US and Europe when it comes to creating world-class products, Kunal Bahl, Co-founder of Snapdeal and early-stage VC firm Titan Capital, said on Thursday.

In a post on X, Bahl said that they are increasingly witnessing startup founders in India focused on AI-led use cases.

They have “raised only $1-2 million” and are “building products that are beating startups from US and Europe that have raised 100s of millions of dollars on the performance of their products”.

According to Bahl, AI-led use cases are proving to be a great equaliser for startups in countries where the funding markets aren't as deep but talent is.

“Very exciting era for a tech talent abundant ecosystem like India that is now confident about and ready to go global,” said the entrepreneur-turned-investor.

Indian AI software-as-a-service (SaaS) startups are poised for the next wave of innovation, helping create 100 new AI unicorns, according to a latest report by investment fund WestBridge Capital with Upekkha, a leading SaaS fund and accelerator.

Meanwhile, Prime Minister Narendra Modi said this week that India will become the world leader in AI with its young innovators emerging as a driving force to take the nation ahead.

Addressing the 'Viksit Bharat Startup Mahakumbh' in the Capital, the Prime Minister exhorted the young startup founders to find solutions that will not only help India solve its problems and achieve the goal of Viksit Bharat but also create a better future for the world.