The Silicon Review
07 Febuary, 2019
Swiggy has made an announcement that it has acqui-hired an AI startup called Kint.io. The startup is based in Bangalore.
According to the food tech unicorn, the founding members of the startup which include Jagannathan Veeraraghavan and Pavithra Solai Jawahar will join the company’s team. The duo has started the AI startup back in 2014 and they will boost Swiggy‘s consumer experience and computer vision technology.
The financial terms of the deal were not disclosed by any of the companies.
Dale Vaz, Swiggy’s head of engineering and data sciences, said, the new acquisition is the company’s strategy towards deploying an entrepreneurial team that can tackle unique problems of the customers, and in the same time levering the resources and network at the company.
The term Acqui-hiring refers to a method of purchasing a company or an entity to recruit its employees, rather than showing an interest in its products and services.
The new development is the first ever tech-led acqui-hire for Swiggy where it is a part of its strategy of developing AI-first platforms and it is the third acquisition for the company since it acquired Scootsy, an on-demand delivery company in 2018 and gourmet food startup 48East in December 2017.
Currently, Swiggy is the market leader for food delivery in the country. It is operated by Bundl Technologies Pvt. Ltd, Bangalore.
The new acquisition will boost Swiggy’s delivery techniques and help them to tap new markets as well.
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