Reliance Jio Digital Services Limited on Wednesday acquired AI-firm Haptik(87% of the Business) for a whopping Rs 700 crore with Rs 230 crore for the initial business transfer. Akash Ambani, Director, Reliance Jio, said, “This strategic investment underlines our commitment to further boost the digital ecosystem and provide Indian users conversational AI enabled devices with multi-lingual capabilities. We believe voice interactivity will be the primary mode of interaction for Digital India. We are delighted to announce this partnership, and look forward to working with the experienced team of Haptik.”
Talking about the acquisition, Haptik Co-founder Aakrit Vaish says, “This investment by Reliance Jio offers us a unique opportunity to massively scale up our operations and make a significantly greater impact in the conversational AI space. It will provide us with the resources and the support to develop world-class conversational AI technology across both enterprise and consumer product lines.”
Haptik, which was founded in 2013, builds chatbots that companies can deploy on websites, apps, and other platforms. With more than 2 billion interactions till date, Haptik has a clientele of leading firms like Samsung, Tata Group, KFC, Viacom 18, Godrej, etc. Its co-founders Aakrit Vaish and Swapan Rajdev will operate independently, with a minority interest in Reliance Jio Digital Services.