Homegrown grocery seller BigBasket, on Saturday, during the sidelines of Kerala Startup Mission’s (KSUM) two-day startup tech event ‘Huddle Global 2022,’ announced that it has acquired Agrima Infotech, a company that enables food and retail firms to build deep tech solutions at scale.Hari Menon, CEO, BigBasket, in a statement, said, “We look forward to working with Agrima team to build solid innovation in the grocery space.” BigBasket will use this expertise on artificial intelligence and machine learning to enrich and enhance technological innovation in the company, he added.
Kochi-based startup Agrima Infotech, a company incubated by KSUM, will help BigBasket to implement its technology platform ‘Psyight’ at the self-checkout counters of the TATA enterprise’s retail stores.
Anoop Balakrishnan, Co-founder and CEO, Agrima Infotech said, that this acquisition will redefine the offline shopping experience in India.
Agrima Infotech’s Psyight, which is created by Anoop Balakrishnan, Arun Ravi and Nikhil Dharman, can identify all Indian fruits and vegetables from an image without using barcodes.
Arun Ravi, Co-Founder and COO, Agrima Infotech, said, “We have captured thousands of images of each SKU (stock-keeping unit) across the seasons and from different locations to achieve cent per cent accuracy.”
John M Thomas, CEO, KSUM, said, “It not only reiterates the strength of our startup ecosystem, but shows the great impression firms such as BigBasket have about our startups.” KSUM is Kerala Government’s nodal agency for entrepreneurship development and incubation activities.
Source: https://www.businesstoday.in/latest/deals/story/bigbasket-acquires-agrima-infotech-plans-to-use-its-ai-ml-expertise-on-tech-innovation-323220-2022-02-19
