Haptik, a conversational AI platform which is owned by Reliance Industries, has now acquired the Mumbai-based startup Buzzo.AI. This conversational commerce platform is set to enhance Haptik's voice and chat solutions and leverage technologies like artificial intelligence and machine learning for a multi-lingual experience.
“But given our mission to enable the paradigm shift from clicks to conversations, commerce was always the next frontier. The Buzzo.ai team has taken a very unique approach to solving this problem, which is totally different from what we have today. This is what attracted us to them, and then once we got to know the team better it was a no brainer,” Haptik said in a statement.
Buzzo.ai is a three-year-old startup founded by Anand Ramachandran and Vivek Arya. Its USP is their platform which doles out an expert advisor-like conversational shopping experience in any retail or e-commerce domains.
In April 2019, Reliance Industries bought an 87% stake in chatbot startup Haptik in a ₹700 crore deal. The total transaction size, including primary capital investment, includes ₹230 crore as the consideration for the initial business transfer from Haptik to Jio.
Anand Ramachandran, co-founder of Buzzo.ai, said in a statement, “We have been working in the areas of NLP, Text Processing, Semantic Search and Information Retrieval for more than 10 years. In 2016 we were looking for a new problem to solve in the same area and found that conversational commerce was still a wide-open space. We were confident that our approach would lead to genuine end-user impact, and combining that with the world moving to being voice first, we knew we were on to something.”
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Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose. You can reach her at firstname.lastname@example.org