India-based food delivery platform Swiggy has reportedly completed the acquisition of artificial intelligence (AI) start-up Kint.io.
Financial details of the transaction have not been disclosed.
Leveraging artificial Intelligence, Kint.io offers deep learning and computer vision service for object recognition in videos.
The deal will strengthen Swiggy’s capabilities in AI, machine learning and big data enabling it to offer enhanced services to customers, as well as provide efficient deliveries.
Swiggy engineering and data sciences head was quoted by ETtech.com as saying: “The team at Kint.io comes with an exceptional understanding and expertise in AI, machine learning and data sciences.
“This acqui-hire is part of Swiggy’s strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems.”
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Kint.io founders Pavithra Solai Jawahar and Jagannathan Veeraraghavan will join the Swiggy team as part of the deal.
Jawahar was also quoted by the publication as saying: “AI research has leapfrogged this past year but lack of data, cultural biases, inability to adapt to our diversity, has somehow always pulled us back when it comes to applying AI to India-based problems effectively.
“This is where Swiggy left us stumped. We were impressed by the team’s razor-focused mindset to bring ingenious solutions for problems unique to India.”
Swiggy purchased on-demand delivery start-up Scootsy in 2018 and gourmet food start-up 48East in 2017, reported the publication.
In December last year, the Indian food delivery platform raised $1bn through Series H funding round through Naspers.