Xelpmoc Design and Tech is a technology company that builds digital products and acts as a “tech co-founder” for the ventures it partners with, a role rooted in its origin story: its founder, a former CTO at Just Dial, started the firm in Bengaluru in 2015 to simplify complex problems - the name is “Complex” spelled backward. The recurring approach that explains everything else is a strategic pivot over FY24-FY26 away from taking equity in early-stage startups toward direct, end-to-end corporate engagements and monetizing its own in-house software products, all while drawing on insights from a network of over a thousand startup connections.
Business segments
A single engine with two reinforcing halves - a corporate technology services practice that funds the build-out of proprietary AI platforms, both fed by a passive portfolio of startup investments that once defined the company.
1. Corporate technology services: the revenue engine that funds everything else
Xelpmoc acts as an innovation-led transformation partner for enterprises, building bespoke data-science and AI solutions - not a body shop providing generic IT manpower.
- End-to-end problem solving, not staff augmentation - the company takes on projects where it understands a client’s business context, performs custom data modeling, and delivers intelligent automation, typically starting with a Proof of Concept to prove the approach works before scaling.
- Deep tech stack under the hood - capabilities span artificial intelligence, machine learning, Natural Language Processing, and large-scale data modeling, with proprietary ML frameworks trained on sector-specific data so they adapt to each customer’s unique systems rather than being one-size-fits-all products.
- Two-thirds of revenue comes from overseas - the geographic split is 66.4% international and 33.6% domestic, with international sectors ranging from e-commerce and healthcare to trade finance and logistics, while domestic work covers banking, construction, and consumer businesses.
- Projects that touch real operations - completed work includes a failsafe crypto trading system with banking integration, speech-to-text technology for call-center optimization, supply-chain analytics, and location intelligence for retail store footprints, showing the breadth of problems the team tackles.
- Deliberately shed low-margin work - the company exited government projects and ad-hoc web services to concentrate on commercially viable, product-led initiatives that align with its core data-science expertise, which is why corporate work now generates 100% of operating revenue, up from 39% in FY23.
2. In-house products: the bet on recurring software revenue
Two proprietary platforms - one for document intelligence, one for senior-care management - are being sold on subscription models to turn project-based expertise into scalable, repeatable income.
- DocuXray reads documents so humans don’t have to - this generative AI platform ingests PDFs, scans, images, emails, and even handwritten notes, then extracts parties, clauses, dates, and amounts with claimed 98%+ accuracy, flags exceptions like missing data or regulatory risks, and plugs into existing ERP and banking systems via APIs.
- 70% less manual effort, 10x faster - the platform’s own benchmarks claim it cuts operational costs by 40-70% and provides full audit visibility, with use cases in banking, legal, finance, and government where document-heavy processes are the norm.
- RELY is the operating system for old-age homes - a SaaS suite with three modules covering assisted-care resident records and automated billing, senior-living operations like kitchen and maintenance management, and a CRM that recovers 40-60% of lost sales leads through built-in calling and WhatsApp integration.
- Sold per bed, per month - RELY operates on a per-apartment or per-bed monthly subscription with annual or multi-year contracts, localized for India with six languages and cultural menus, and claims 40% faster admin tasks and 25-30% lower operational costs for its customers.
- Earlier experiments paved the way - the company previously built an AI document engine called DocuX and an ERP for restaurants called xERP, and explored concepts like email-based sentiment analysis and conversational commerce chatbots, showing a pattern of prototyping before productizing.
3. Startup portfolio: a passive innovation lab that still holds value
Xelpmoc no longer actively incubates startups, but its legacy equity stakes in a dozen companies - built through a “cost-plus-equity” model where it took shares in lieu of profit - now sit as a portfolio with a fair value of roughly INR 727 million.
- Technology for equity, not cash - historically, the company provided development services and mentoring at cost to pre-revenue startups in exchange for equity, acting as a technological co-founder that put in intellectual capital rather than financial capital.
- Woovly turned social commerce into a SaaS business - its Live2.ai platform provides shoppable video tools to 245 brands including L’Oréal, Unilever, and Decathlon, generating USD 4.1 million in ARR while being EBITDA positive; Xelpmoc owns 9%.
- Pencil monetizes stories with Google’s help - this creator-economy platform publishes 4-6 books a day and signed a USD 950,000 service deal with a leading organization to produce AI-generated audiobooks in multiple Indian languages; Xelpmoc increased its stake to 10.7% by converting outstanding receivables into equity.
- The network is the hidden asset - over 1,000 corporate and startup connections function as a living innovation lab, feeding cross-sector insights through what management calls a “multidimensional innovation matrix” that informs both product development and corporate engagements.
Group structure and partners
A lean listed parent with a few satellite entities - most of which were proposed, then cancelled when the business logic shifted - and a promoter group that holds just under half the company.
- Promoters own 49.52% - the founder and MD Sandipan Chattopadhyay leads technology and strategy, while co-founders Srinivas Koora and Jaison Jose oversee finance and operations respectively, creating a tight leadership trio at the top.
- Signal Analytics is the main subsidiary - this wholly owned unit focuses on edutainment technology and holds a 54.57% stake in content-creation company Soultrax Studios, making it a step-down subsidiary of Xelpmoc.
- A UK subsidiary that never started - Xelpmoc Design and Tech UK Limited was incorporated in London in 2021 to spearhead international expansion, but conducted no operations and was approved for dissolution in November 2024.
- Several proposed subsidiaries were scrapped - plans for entities in Delaware (US market entry), Hyderabad, and Mumbai were all cancelled between May and November 2024 because the businesses did not progress as expected or were brought in-house instead.
- An SPV for a state tourism contract - Xperience India Private Limited, in which Xelpmoc holds 43%, was formed in 2022 as a Special Purpose Vehicle to deliver an online travel aggregator platform for the Madhya Pradesh State Tourism Development Corporation.