Business Wire

Gupshup Acquires AskSid, the Leading Conversational AI Platform for Ecommerce and Retail Companies

Share

Gupshup, a global leader in conversational engagement, announced today the acquisition of AskSid, a leading Conversational AI provider to top ecommerce and retail companies around the world. AskSid’s full-stack AI solution including the Retail AI brain, strengthens Gupshup’s customer experience (CX) offerings and will help make the entire shopping journey - across pre-purchase, purchase and post-purchase phases - fully conversational.

Headquartered in Bengaluru, AskSid is helping many global brands like AkzoNobel, Danone, Wolford, Akris and Himalaya Wellness deliver impactful shopping experiences to customers through AI-powered conversations, driving faster sales. The tech startup has operations in 25+ countries and supports over 100 languages. By automating 92% of support conversations with a self-service model, AskSid customers have reported an average 25% reduction in operational expenditure, while boosting order conversion rate by 30%.

“Conversational commerce is about to transform shopping, both online and offline. Gupshup is building the most comprehensive conversational commerce solution and AskSid’s deep-domain AI offering will help us bring even more advanced capabilities to ecommerce and retail businesses worldwide,” said Beerud Sheth, Co-founder and CEO, Gupshup. “We welcome the AskSid team onboard and look forward to collaborating with major brands across the world to enable next-gen shopping experiences.”

Per a recent report by McKinsey, ecommerce could grow up to 5x faster compared to pre-pandemic times. “This presents a huge opportunity for Retail and ecommerce brands - but only if they are able to provide expert guidance anytime, anywhere to their consumers, which is exactly what AskSid delivers,” said Sanjoy Roy, Co-founder and CEO, AskSid. “Together with Gupshup, we will help businesses drive richer conversational experiences.”

“We are very happy to join forces with Gupshup and look forward to helping more brands personalize their shopping experiences at scale,” said Dinesh Sharma, Co-founder and CTO, AskSid.

AskSid’s angel investors include well-known technology leaders Rajan Anandan (ex-Google), Krishnakumar Natarajan (ex-Mindtree), Parthasarathy NS (ex-Mindtree) and Radha R (ex-Microsoft and Mindtree). The AI startup is also backed by Techstars (first institutional investor in AskSid), a global seed accelerator that mentors some of the world’s most successful startups.

"AskSid’s retail-specific models help global retail brands deliver impactful shopping experiences to their consumers. I am impressed with AskSid's powerful AI capabilities and their ability to acquire global brands so readily," said Vijay Tirathrai, Managing Director at Techstars. “The merger with Gupshup is the next logical step and a great strategic fit as their deep vertical AI expertise in retail now gets augmented by Gupshup on a global scale in CPaaS and CX, delivering immense value to enterprise customers."

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media contact

Yadunandan K V
Gupshup Corporate Communications
yadunandan.kv@gupshup.io

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

First Guardant Health Liquid Biopsy Testing Service in Europe Now Operational at Vall d’Hebron Institute of Oncology25.5.2022 09:01:00 CEST | Press release

Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, and the Vall d’Hebron Institute of Oncology (VHIO), one of Europe’s leading cancer research organizations, today announced that the first blood-based cancer testing services in Europe based on Guardant Health’s industry-leading digital sequencing platform are now available at the VHIO liquid biopsy testing facility in Barcelona. Guardant Health and VHIO established the partnership in January 2021 to give more patients access to Guardant Health’s industry leading liquid biopsy technology. This testing service will provide essential genomic information through comprehensive genomic profiling (CGP) for patients with any solid cancerous tumor. From a simple blood draw, the test identifies patients with actionable biomarkers more quickly than starting with tissue biopsy. The VHIO testing services will be available for clinical research and clinical care. “The opening of this service will give more patients with advanc

NEC and Juniper Networks Deploy Algeria Telecom’s Nationwide 5G-Ready IP Metro Network25.5.2022 09:00:00 CEST | Press release

NEC Corporation (NEC; TSE: 6701), a leading global IT and network transformation services provider, and Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced they have worked with Algeria Telecom, the leader in the Algerian telecommunications market, to roll out its modernized, nationwide IP metro commercial network to support current demand for increased capacity as well as future needs driven by 5G and FTTx. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005904/en/ Algeria Telecom has formed a mid-term strategic plan to implement a transport network with a homogenized, optimized topology as well as automation capabilities that guarantee bandwidth and future-proofing of its infrastructure in a growing market. NEC and Juniper have successfully delivered Algeria Telecom’s next generation IP metro network while ensuring quality of service, driving toward the best possible user experience,

Slate Asset Management Announces £50 Million Investment in UK-Based Vertical Farming Business, Eider VF Limited25.5.2022 09:00:00 CEST | Press release

Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced that it has completed a £50 million investment in Eider VF Limited (“EVF”), a UK-based vertical farming business, through its Cities and Communities Impact Infrastructure Strategy. Founded in 2016, EVF is a vertical farming business based in Birmingham, England that develops farms growing leafy produce to be sold to the UK mass market. EVF’s products are grown in standard warehouses that are augmented to house vertical farms, using standard industrial equipment to create environments in which the plants thrive. EVF has secured long-term partnership agreements with leading manufacturers and suppliers of leafy produce to the UK retail and food service markets. Slate’s investment will be used to fund the construction of EVF’s first five facilities by 2024, which will be built adjacent to existing packing facilities, thereby significantly reducing transport costs. The facilitie

Thales Helps Customers Secure SAP Applications in the Cloud25.5.2022 09:00:00 CEST | Press release

Thales today announced its CipherTrust Tokenization is the first SAP-certified tokenization solution available to SAP customers that can be used to secure sensitive data. Available via SAP Data Custodian, Thales’s tokenization solution provides more granular levels of data protection and user access controls, dramatically accelerating time to compliance for organizations that are moving more applications and workload to the cloud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220525005016/en/ ©Thales The new availability of Thales’s CipherTrust Tokenization in the SAP Data Custodian builds on a successful, long-term relationship between the two companies for encryption, tokenization and key management solutions. The tokenization solution in the SAP Data Custodian was developed by both organisations through SAP’s Co-innovation Lab, ensuring the security of sensitive data at the most fundamental levels of the application. SAP

IFF to Webcast Fireside Chat at Bernstein Strategic Decisions Conference on June 124.5.2022 22:15:00 CEST | Press release

IFF (NYSE: IFF) today announced that Chief Executive Officer Frank Clyburn will participate in a fireside chat at the Bernstein 2022 Strategic Decisions Conference on Wednesday, June 1, 2022 at 8 am ET. Investors may access the live webcast on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn. View source version on busine