Artificial intelligence is becoming the new rage and the genre has begun garnering investor attention as well — specially here in India. Along the same stream, personal assistant app Haptik has raised an undisclosed amount in Series B funding from Times Internet.
Haptik is basically an Artificial Intelligence based app that allows its users to indulge in online shopping, travel bookings, food delivery, restaurant reservations and getting information about the best mobile plan recharges, all by chatting with its assistant.
The app has been gaining traction among users of late and as per claims, has already crossed the one million download mark. The platform also provides its services to the likes of Flipkart, UrbanClap etc.
Speaking about his app, Aakrit Vaish, the CEO of Haptik, said
We started Haptik so that consumers could get the most out of their phones, without the huge learning curve of navigating hundreds of different apps. Ordering food or checking into a flight should be as easy as asking for it
The investment will be used to further develop the product and improve the artificial intelligence capabilities of the platform. The company is likely looking to bring its AI to a level where it can completely replace the army of humans it currently employs to chat with users — And while it may sound anti-human and even sky-netish, whats the point of a company basing itself on AI, only to have its work done by humans?
So, yes. Artificial Intelligence is probably going to be a big area of focus for Haptik.
Meanwhile, Kalari Capital, which invested $1 million into Haptik back in 2014, made its exit from it in this round. The firm has not given any official reasons for its sudden exit til now.
Speaking on his firms investment, Gautam Sinha, CEO of Times Internet said,
Haptik is part of a growing global trend towards chat-based commerce. They have great affinity amongst their current users, and we hope to help them continue to innovate on the service, while expanding their user base.
Meanwhile, the investment is yet further proof of the burgeoning interest in the niche, not only among corporations and startups but also among investors.