AskSid’s full-stack artificial intelligence 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.
What is AskSid’s market reach?
Headquartered in Bengaluru, AskSid is helping many global brands like AkzoNobel, Danone, Wolford, Akris and Himalaya Wellness deliver impactful shopping experiences to customers through artificial intelligence-powered conversations, driving faster sales.
The startup operates in 25+ countries and supports over 100 languages. By automating 92% of support conversations with a self-service model, clients 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 Chief Executive Officer, Gupshup.
“We welcome the AskSid team onboard and look forward to collaborating with major brands across the world to enable next-gen shopping experiences,” Beerud further commented.
What does the deal mean for Gupshup?
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 happy to work 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 tech leaders Rajan Anandan (ex-Google), Krishnakumar Natarajan (ex-Mindtree), Parthasarathy NS (ex-Mindtree) and Radha R (ex-Microsoft and Mindtree). The startup is also backed by Techstars (first institutional investor in AskSid), a seed accelerator that mentors some of the world’s most successful startups.
“AskSid’s retail-specific models help 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,” Tirathrai further commented.