Online food ordering firm Swiggy has acqui-hired Kint.io, a Bangalore-based tech startup, for an undisclosed amount. Kint.io, which is Swiggy’s third acquisition, is an Artificial Intelligence (AI) startup that applies deep learning and computer vision for object recognition in video.
The acquisition would allow Swiggy in boosting its computer-vision technology and consumer experience.
Kint.io was founded in 2014 by Pavithra Solai Jawahar and Jagannathan Veeraraghavan. While Pavithra had worked with Microsoft, Mahindra & Mahindra, Tanishq and ITC, for Jagan Kint was his second startup. He has worked in Intuit and Adobe before launching Kint.
As part of the acquisition deal, the team including both the founder at Kint.io will join Swiggy to give Swiggy more expertise and talent in this area.
“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,” said Dale Vaz, Head of Engineering and Data Sciences, Swiggy.
“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.
Kint.io is the first technology-led acqui-hire for Swiggy as it makes investments in its long-term strategy of building AI-first platforms. Prior to this, Swiggy has acquired two more startups including acquisition of Scootsy for $8 million, in August last year. In December 2017, Swiggy acquired 48East, a food startup based out of Bangalore offering food of 48 countries.
Belong.co was the consulting partner for this tech acqui-hire.
Source – Outlook India