Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Bangalore-based on demand delivery service startup, MagicTiger, has acquired Zoyo, an artificial intelligence-based platform that allows users to shop over chat, in a cash-and-stock deal.
With this, MagicTiger will integrate Zoyo’s technology onto its own platform to automate several workflows in the Magictiger app. The company plans to enable more AI powered scenarios for their chat based transaction platform.
Arun Kumar, co-founder and COO of MagicTiger said that with this acquisition the company has strengthened its senior business and product team with which they aim to scale faster.
Bangalore-based Zoyo is a chat enabled fully automated assistant for shopping, restaurant discovery, news, and many more. Zoyo was started by Shashank Singla and Priyanka Prakash as a tool to enable ecommerce transactions through chat that is fully automated using NLP based AI back end.
According to Pratyush Prasanna, co-founder and CEO of MagicTiger, “Neither a purely human-powered platform nor a completely-automated approach is going to be the correct approach for a chat-based transaction platform which is scalable.”
Promoted by husband-wife duo K Ganesh & Meena Ganesh along with Srini Anumolu, MagicTiger, acquired GoDeliver in July this year., which is an on demand delivery startup.
Started in May this year, MagicTiger has already made two acquisitions. It is a disruptive transaction platform on chat that addresses needs like food, groceries, household services, government services and even quaint items like bakery items through chat. The company provides recommendations based on data gathered over other ecommerce and mcommerce platforms, and curated suggestions in appropriate categories like food.
Going forward, MagicTiger plans to expand its operations to more cities with the new funding of $10 Mn that it plans to raise in the next three months.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.