• Home
  • Apps
  • Apps News
  • Jio Acquiring Conversational AI Platform Haptik for Rs. 200 Crores: Report

Jio Acquiring Conversational AI Platform Haptik for Rs. 200 Crores: Report

Jio Acquiring Conversational AI Platform Haptik for Rs. 200 Crores: Report
Highlights
  • Haptik is one of world's largest conversational AI platforms
  • The transaction is expected to be completed this week
  • Haptik's partners and clients include Samsung, Goibibo, Amazon Pay

Reliance Jio is reportedly acquiring Haptik - one of the world's largest conversational Artificial Intelligence (AI) platforms - for over Rs 200 crore.

A report in Inc42.com late Thursday claimed that the transaction is expected to be completed this week.

Citing a company document, the report claimed that "Reliance Jio Services and Haptik founders Aakrit Vaish and Swapan Rajdev have signed a Business Transfer Agreement".

When contacted, Haptik declined to give an official response on the report.

Jio was yet to comment on the development.

Having grown 10 times in revenue in just one year, Haptik's partners and clients include Coca-Cola, HDFC Life, Samsung, Edelweiss Tokio, Goibibo, Amazon Pay, ClubMahindra, ICICI Bank and Tata Docomo, among others.

Haptik was the first company to open source a conversation-based Entity Detection engine, and is patent pending on our unique bot to agent routing capabilities.

In April 2016, Times Internet led a Series B round of investment in Haptik, making it one of the most well-funded independent conversational AI companies in the world.

Sensing the immense opportunity ahead, nearly 200 AI start-ups in India are today innovating and creating AI-based solutions for various industries.

Chatbots are slowly becoming the default customer support solution for most services and Mumbai-based Haptik is one such AI-based platform - building applications for consumers, publishers and enterprises.

More than 50 percent of Indian retail companies will be operating on AI by 2020, said PeopleStrong, a Software-as-a-Service (SaaS) HR technology and solutions company.

According to an Accenture analysis, AI has the potential to add $957 billion to India's economy in 2035.

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Reliance Jio, Haptik, AI
Criminal Justice Trailer: Hotstar Sets April Release Date for Indian Remake of British Series
Gmail for iOS Gets Customisable Swipe Actions

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com