5 April, 2016, New Delhi: In its series B round of funding, Haptik has managed to acquire an undisclosed amount of funding from Times Internet. Confirming the news, Times Internet revealed, “Mumbai and San Francisco-based personal assistant app Haptik has raised an undisclosed sum in Series B funding from Times Internet. The money will be used for product development and to improve artificial intelligence capabilities and business operations.”
However, the round also the saw exit of Kalaari Capital (existing investor) from the company. Earlier, Kalaari Capital had invested around US $1 million in the company in 2014. Commenting on the round, Aakrit Vaish, CEO, Haptik said, “We started Haptik so that consumers could get the most out of their phones, without the huge learning curve of navigating hundreds of different apps. Ordering food or checking into a flight should be as easy as asking for it.”
The company was floated in the market in 2013 by Vaish and Swapan Rajdev. The app deals in helping its users in completing his daily tasks by chatting with an assistant. These tasks include online shopping, travel bookings, food delivery, restaurant reservations etc.
“Haptik is part of a growing global trend towards chat-based commerce. They have great affinity amongst their current users, and we hope to help them continue to innovate on the service, while expanding their user base,” said Gautam Sinha, CEO of Times Internet.