Foodtech major Swiggy has acquihired Kint.io, an AI, Machine Learning, and data science enabled startup for an undisclosed amount.
The deal will help Swiggy to improve discovery for consumers and enable fast and more efficient deliveries. Further, the strategic partnership will solve unique customer problem.
Following the acquisition, Kint.io founding members Pavithra Solai Jawahar and Jagannathan Veeraraghavan will join the Napers-backed company’s team.
The duo had floated the Bengaluru-based startup in 2014.
The dedicated team is expected to be led by Dale Vaz, Head of Engineering and Data Sciences, Swiggy. Vaz joined the company last year to build the AI driven platform for hyperlocal discovery and on-demand delivery.
This is the fourth acquisition for Swiggy. Last year, it took over on-demand delivery startup Scootsy for Rs 50 crore, while acquisition amount in 48East (December 2017) and microdelivery startup SuprDaily remained undisclosed.
To have an edge over arch rivals, Swiggy is looking to grab every opportunity. The Foodtech major is piloting hyperlocal grocery delivery services through a separate app Swiggy Dash.
Flush with funds, Swiggy and Zomato have been leading the market in terms of funds and monthly delivery order. Recently, Zomato announced that it hit 28 million monthly order run rate. Swiggy, on the other hand is also hovering around the same run rate.
As far as loyalty programme is concerned, Zomato is leading the show. Swiggy also launched its maiden subscription programme in September 2018. The firm recently revealed that its Super members placed 14 million orders without delivery charge in the last three and half months of 2018.
The development was reported by ET.