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Home Mergers & Acquisitions Deep-tech start-up Agrima Infotech acquired by BigBasket

Deep-tech start-up Agrima Infotech acquired by BigBasket

BigBasket will be implementing Kochi-based deep-tech start-up’s unique customer vision technology platform, Psyight, at the self-checkout counters of the former’s retail stores

Tata Group-owned BigBasket on Saturday announced, in a bid to revolutionise offline retail, it has acquired the business unit of a deep-tech company Agrima Infotech.

BigBasket will be implementing Kochi-based deep-tech start-up’s unique customer vision technology platform, Psyight, at the self-checkout counters of the former’s retail stores.

Without using barcodes, Psyight, created by Anoop Balakrishnan, Arun Ravi and Nikhil Dharman under Agrima Infotech, helps identify all Indian fruits and vegetables uniquely from an image.

Balakrishnan, co-founder and CEO of the deep-tech start-up said, joining hands with BigBasket will redefine the offline shopping experience in the country.

“BigBasket will use this expertise on AI (artificial intelligence) and ML (machine learning) to enrich and enhance a whole lot of technological innovation in the company”, Hari Menon, CEO of BigBasket, said.

“We look forward to working with the deep-tech start-up Agrima’s team to build solid innovation in the grocery space”, he added.

BigBasket, in November last year, opened its first technology-driven self-service physical store under the brand name: Fresho in Bengaluru.

The Bengaluru-based online grocer plans to open 200 physical outlets across the country by fiscal year 2023. It aims to increase that number to 800 stores by 2026, Menan had said.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

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khushbu
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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