Machine Learning,Artificial Intelligence


IT,Telecom and Internet

Ratan Tata Invests In Artificial Intelligence Based Startup
Friday, September 16, 2016 2:31:19 PM

Chairman Emeritus of The Tata Group, Ratan Tata recently invested in an artificial intelligence-based chatbot, Keeping the recent spurt in high end technology startups in outlook, the group has, invested in around 25 startups in the last 2 years including Snapdeal, Ola, and Paytm among others.

UTV Founder, Ronnie Screwvala led Unilazer Ventures, which also happens to be an existing investor of Niki, also participated in this round of funding.

Owned and operated by Techbins Solutions Pvt. Ltd., Niki was founded in April 2015 by IIT Kharagpur alumni Sachin Jaiswal, Keshav Prawasi, Nitin Babel and Shishir Modi. Set up in Bangalore, it uses machine learning analytics along with the natural learning process enabling machines to self -learn and understand the human language inputs; basis on which systems on which it is deployed converse with the users over a chat interface and place orders within seconds with partner companies.

Having more than 20 brands as business partners, it currently offers services like bill payments, mobile/DTH recharge and food ordering, among others. The company works on a partnership model with brands and generates profit from every order processed on its platform. Niki is also looking forward to provide other companies with the ‘chatbots’ that can have meaningful conversations according to the demand of users.

With a user base of over 40,000 and staff of over 20, Niki has some other services in the pipeline awaiting to be disclosed later this year which, it is rumored, may include laundry bookings, bus bookings and others.