26 Sep 2017
Live Post
Pakistan court to indict Nawaz Sharif on October 2 in corruption cases
Narendra Modi's 16000 cr Saubhagya scheme for households
894 dengue cases in New Delhi over last week
SBI cuts minimum balance requirement in savings account to Rs 3000
Honeypreet Insan alleges threat to life from drug syndicate in Punjab, Haryana

Times Internet invests in mobile app firm Haptik

MUMBAI: Mobile application company Haptik Inc has raised capital from Times Internet, the digital arm of Times of India.

The Series B funding will be utilised for product development, improving artificial intelligence capabilities, and business operations.

Kalaari, a $160 million venture capital fund, has exited. It had reportedly invested $1 million in Haptik.

Haptik has also entered into a strategic alliance with Times Internet. Under this partnership, Haptik will leverage Times Internet’s wide reach to over 150 million users.

Haptik is a mobile-first application that enables users to get daily tasks done by chatting with assistants. The most popular requests that Haptik fulfils include online shopping, travel bookings, food delivery, restaurant reservations, best mobile plan recharges, etc.

“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, and that’s what Haptik can do,” said Haptik CEO Aakrit Vaish. “With Times Internet as a partner, we’re excited to offer what we’ve built over the last two years to millions of consumers across India.”

Founded in 2013 by Aakrit Vaish and Swapan Rajdev, Haptik has been downloaded by over 1 million users and has been featured multiple times in the Google Play Store and iOS App Store as one of the best apps in India.

In 2016 Haptik also associated with Samsung Mobiles to offer a first-of-its-kind pre-built messaging concierge service to their users.

“Haptik is a magical experience for consumers, and it is part of a growing global trend towards chat-based commerce. They have great affinity among their current users, and we hope to help them continue to innovate on the service, while expanding their user base,” said Times Internet CEO Gautam Sinha.

Haptik has grown multifold in the last one year and now processes over half a million requests per month, out of which 25% are completed using artificial intelligence. The company works with fulfilment partners including Flipkart, Cleartrip, Via.com, Urbanclap, Dineout, etc.