India’s online grocery giant, BigBasket (a Tata enterprise) has acquired Kerala-based startup, Agrima Infotech on February 19, 2022. Kerala Startup Mission (KSUM) nurtured the deep-tech company, Agrima Info Tech. With this bid, BigBasket aims to revolutionize offline retail in the country.
The deal allows BigBasket to implement Agrima Infotech’s unique customer vision technology, Psyight, at the self check-out counters of the former retail stores.
What is Psyight
Anoop Balakrishnan, Arun Ravi and Nikhil Dharman created Psyight under Agrima Infotech. It is a food recognition platform that uses computer technology to distinguish between cooked, raw and packaged food items. It helps identify all the fruits and vegetables uniquely from an image rather than making use of barcodes.
What the founders have to say-
Anoop Balakrishnan, co-founder and CEO of Agrima Infotech said, “Startup joining hands with BigBasket will redefine the offline shopping experience in the country.”
Hari Menon, CEO, BigBasket added, “BigBasket will use this expertise on Al (artificial intelligence) and ML (machine learning) to enrich and enhance a whole lot of technological innovation in the company.”
He further added,” We look forward to working with the Agrima team to build solid innovation in the grocery space.”
Hari Menon announced the news on the sidelines of the two-day virtual event ‘Huddle Global 2022’ organized by KSUM.
About BigBasket
BigBasket, a Tata Enterprise, is India’s largest online grocery seller. It delivers food and grocery items right at the customer’s doorstep. They cater to the personal and household needs of their customers. From household products to beauty and makeup, they have a wide array of products. The Company seeks to deliver superior quality thereby gaining customers’ trust and loyalty.
They boast of 20,000+ products of 1000 brands with a whopping 4 million customer base over 25 cities.
Recently, BigBasket opened its first technology-driven self-service physical store in Bangalore under the brand name – Fresho. The physical store is inclusive of BigBasket’s plan to launch 200 physical outlets by 2023. It further plans to add 800 stores by 2026.
About Agrima Infotech
Anoop Balakrishnan, Arun Ravi and Nikhil Dharman founded the company in 2012. Agrima Infotech is a Kochi-based startup that was nurtured under Kerela Startup Mission (KSUM). It deals with AI and software that enables food and retail companies to develop deep tech solutions. Their computer vision technology, Psyight, is the company’s flagship product. The firm’s Snap and Cook app- Recipebook is another successful application. With 3 million+ downloads in India, it identifies ingredients using images and suggests the best recipe to be cooked.
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