This acquisition is part of Swiggy’s strategy to scale its tech prowess by bringing in entrepreneurial teams that can solve unique customer problems
Swiggy,the online food delivery service has recently acquired Bangalore-based artificial intelligence (AI) start-up Kint.io. Kint.io is an AI-based platform and is specialised in applying computer vision and deep learning for object recognition in videos.
With this acquisition, Swiggy will augment the work it has been doing in the field of AI, big data and machine learning (ML) as it is aiming at improving discovery for customers and enable speedy and efficient deliveries.
Kint.io was founded in October 2014 by Pavithra Solai Jawahar and Jagannathan Veeraraghavan. And they will join the Swiggy.
Scaling technology expertise
Dale Vaz, Head of Engineering and Data Sciences, Swiggy has said that the team at Kint.io comes with an exceptional understanding and expertise in AI, ML and data sciences. This is part of Swiggy’s strategy to scale tech prowess by bringing in entrepreneurial teams that can solve unique customer problems.
Jawahar, Co-founder, Kint.io, has remarked that AI research has leapfrogged this past year but lack of data, cultural biases, inability to adapt to our diversity, has somehow always pulled them back when it comes to applying AI to India-based problems, effectively. This is where Swiggy left them stumped. They were impressed by the team’s razor-focused mindset to bring ingenious solutions for problems unique to India.
This is the third acquisition by Swiggy. Last year, it acquired Scootsy – an on-demand delivery start-up for Rs 50 crore and 48East -a gourmet food start-up in December 2017.
As per NASSCOM report,AI start-ups in India recorded a 120 per cent growth in funding with more than US$ 150 million invested in 2018.
In July 2017, Google acquired Indian AI startup Halli Labs. In August last year, Walmart-owned Flipkart acquired AI start-up Liv.ai, whereas Walmart Labs bought Int.AI in December.