
Keep abreast of the latest in business. Get notified about stories and events as they happen.

No Thanks
Yes Please
Ratan Tata-backed AI start-up Niki.ai raises $2 million
BS Reporter | New Delhi Jun 29, 2017 12:40 AM IST

The company also raised money from Haresh Chawla of private equity firm True North and Arihant Patni of Hive Technologies, it said in a statement on Wednesday. Software giant SAP launched SAP.iO with an initial investment of $35 million in March this year. The fund makes early-stage investments in software start-ups with an aim to expand the SAP ecosystem.
Niki.ai plans to use the money to strengthen its machine-learning capabilities, build voice and multilingual functionalities, and expand its distribution network, said Sachin Jaiswal, chief executive of Niki.ai.
Niki.ai was founded in April 2015 by four IIT Kharagpur alumni — Jaiswal, Keshav Prawasi, Nitin Babel and Shishir Modi. It provides users a conversational interface to shop for products and services. It currently covers over 20 categories, including entertainment, travel and daily utilities, with players like BookMyShow, Redbus, OYO, Ola and Uber. Niki, its bot, uses natural language processing and machine-learning technologies to converse with customers over a simple chat interface, and places their orders with partner businesses.
Ad
Related News
Ad
Most Read
- Aadhaar-PAN linking: Only 1 day left How to do it in easy steps
- Accenture's $1.8-bn acquisition plan to act as lesson for IT firms in India
- China accuses India of disrespecting Bhutan's sovereignty, blocks Kailash yatra via Nathu La Pass
- Tough times: Cognizant defers salary hikes, promotions by three months
- No end to India,China stand-off at border tri-junction with Bhutan
More From Companies
- Air India privatisation: IndiGo wants to buy stake in debt-laden carrier
- HMD bundles Nokia 3, 5 & 6 with additional data up to 27 GB from Vodafone
- Mired by ownership battle, McDonald's shuts 80% Delhi outlets as hygiene take toll
- Glimmer of hope for Indian IT: H-1B premium processing may start again
- Tough times: Cognizant defers salary hikes, promotions by three months
- Congress joins TMC, will skip midnight GST meeting tomorrow
- Sensex to reach record high by year-end on govt reforms, finds poll
- 35 stocks rally over 50% in one month; Magnum Ventures zooms 317%
- The writing is on the wall for Opec: It needs to cut more
- Modi says killing people in the name of cow worship is unacceptable
- Sensex to reach record high by year-end on govt reforms, finds poll
- 35 stocks rally over 50% in one month; Magnum Ventures zooms 317%
- Markets pare gains; Sensex slips below 31,000 in noon deals
- Eris Lifesciences makes quiet debut, up 1% against IPO price
-
Low-volatility ETF can be part of your core portfolio
- H-1B visa: Half of Wipro's US staff are Americans after 3,000 hired in FY17
- From boats to Sehwag: Ola's hashtag branding courts controversy, keeps campaign buzzing
- Cabinet nod for disinvestment: Air India stake sale takes off
- OnePlus 5 is 'old wine in a new bottle' but its camera, battery are the real winners
- Facebook's secret censoring on hate speech protect white men but not blacks