As the competition in the food delivery space heats up, Swiggy has acquired Bengaluru-based artificial intelligence (AI) startup Kint, the website Kint.io said. This is the first deeptech-centric acquisition made by Swiggy as its earlier buyouts include Scootsy, 48East, and SuprDaily.
Kint is an AI-backed video platform for sports analysis using deep learning and computer vision, as per the LinkedIn profile of its co-founder Pavithra Solai Jawahar. Swiggy has acqui-hired Kint which means that the company has been bought out for its talent, rather than its services or products.
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Swiggy said in a statement that Bengaluru-based Kint.io’s co-founders Pavithra Solai Jawahar and Jagannathan Veeraraghavan will come on board to boost computer vision technology and consumer experience. The duo had started Kint.io in 2014.
“This acqui-hire is part of our strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems, while leveraging the network and resources at Swiggy,” IANS quoted Dale Vaz, Head of Engineering and Data Sciences, Swiggy.
AI startups in India saw 120% growth in funding with over $150 million invested last year, said a Nasscom report.
“AI research has leap-frogged this past year but lack of data, cultural biases and inability to adapt to our diversity has somehow always pulled us back when it comes to applying AI to India-based problems. This is where Swiggy left us stumped,” said Jawahar and Veeraraghavan according to the IANS report.
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In December Swiggy raised $1 billion from Naspers, Tencent and other investors. Swiggy’s other backers include venture capital firms SAIF Partners and Accel.
The food delivery startup was started in 2014 when two BITS Pilani graduates, Sriharsha Majety and Nandan Reddy decided they wanted to make life easier by changing the way India eats – all with just a tap! With their idea of ’hyperlocal food delivery’, all they needed was the tech to power it and were introduced to Rahul Jaimini, who brought this vision to life with the first website. And with this, Swiggy was launched as a food ordering & delivery platform.
Swiggy raised its first round of funding and launched the app in May of 2015.
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