Coinbase stated this deal would bring Agara’s deep expertise in machine learning and natural language processing to the corporate’s engineering team.
Coinbase, one of the world largest cryptocurrency exchanges, has announced its first startup acquisition in India.
The agency is acquiring Agara, an AI-powered help platform with operations in India and the US, for an undisclosed amount. The acquisition is anticipated to shut later this year.
Coinbase said this deal would deliver Agara’s deep experience in machine learning and natural language processing to the corporate’s engineering staff.
“We plan to leverage it’s powerful Deep Learning and Conversational AI expertise to automate and improve our buyer experience (CX) tools. Enhancing our CX stays top precedence for Coinbase — in the past few months we have now elevated our help workers headcount by 5x and introduced that we’ll deliver 24/7 phone help and reside to message by end of the year. Via this acquisition, we’ll be capable of providing our clients with new personalized, clever, and real-time support choices” mentioned Manish Gupta, EVP – Engineering at Coinbase, in a weblog submit.
At the time, Gupta said that they would discover startup acquisitions and acquires to accelerate their development plans within the nation.
Related: Indian crypto exchange CoinSwitch Kuber turns into Unicorn after $260M Funding Round
“We’ve formidable plans for this hub within the close to future — we wish to rent a whole lot of world-class engineers in the near term. This staff of engineers can be complemented by equally high-quality product and design groups, as well as help features reminiscent of recruiting and HR to construct out a sustainable, well-rounded tech hub” Gupta, said in July.
Based in 2017, Agara counts Blume Ventures, RTP World, Kleiner Perkins and UTEC Japan among its traders. Apparently, Pankaj Gupta can also be talked about in the “board members and advisors” part on Agara’s website. Coinbase, which went public in April this year, has additionally backed home crypto exchanges reminiscent of CoinDCX and CoinSwitch Kuber, each of which joined the nation’s startup unicorn club this year.
Source: MoneyControl
