Reliance-Backed Haptik Reportedly Bought A Conversational Commerce Startup In Mumbai

On September 24, Reliance-backed Haptik has made an official announcement on its acquisition of a conversational commerce startup in Mumbai called Buzzo.ai.

Founded by entrepreneurs Vivek Arya and Anand Ramachandran in 2016, Buzzo.ai is known as a platform that focuses on bringing professional conversational shopping experiences to customers via e-commerce or retail domains.

According to a report from Haptik, the AI chatbot company plans to improve commerce solutions via chat and voice features to offer them to its customers all over the world. These customers include brands in the Fortune 500 list like Coca-Cola, HDFC, Samsung, Viacom18, Oyo Rooms, and KFC. The Haptik Co-Founder & CTO Swapan Rajdev said:

He added that the Buzzo.ai team has found out many ways to solve this problem, which is much different from what we have known so far.

Buzzo.ai helps an Artificial Intelligence (AI) assistant comprehend the needs of all customers through conventional conversation. In addition, this assistant also offers the most suitable recommendations based on each specific input and reveals why it suggests those solutions. In other words, it is developed to simulate how a sales associate thinks and conducts in real-time.

The acquisition takes place after Haptik has expanded its market to North America and managed to acqui-hire a startup in Los Angeles called Convrg.

With the latest acquisition, Haptik is aiming to provide advanced AI-based solutions to global enterprises via commerce and customer care. Accordingly, its new market size will probably cost over $500 billion.