Acquisition strengthens Gupshup�s AI-powered conversational solutions for Ecommerce, Retail and Consumer Goods industries

SAN FRANCISCO & MUMBAI, India--(BUSINESS WIRE)--#AIsolution--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."

Contacts

Media contact

Yadunandan K V

Gupshup Corporate Communications

[email protected]