Jio Platforms' Haptik claims 300 pc yoy growth, bullish on WhatsApp ecommerce
Jio Haptik Technologies Co-founder and CEO Aakrit Vaish told PTI that the business of the company is growing overseas, with the US being its primary market.
Jio Platforms' conversational AI maker is tripling business on a year-on-year basis, and is bullish about ecommerce facilities getting developed on the instant messaging app WhatsApp, a top official of the company said.
Jio Haptik Technologies Co-founder and CEO Aakrit Vaish told PTI that the business of the company is growing overseas, with the US being its primary market.
"We have grown every year consistently by about 300 percent. We just closed the month of August also at triple digits as compared to last year. The major part of what we're doing is expanding globally to various markets, the US being the primary market," Vaish said.
Aakrit Vaish , CEO and Co-founder, Haptik
Haptik's customer base includes Dream 11, Oyo Room, Lenskart, Ola cab, Pepperfy, Upstox, Havells, Ceat, Eureka Forbes etc.
Jio has committed to invest $67 million in Haptik over the period of three to five years.
Haptik makes Artificial Intelligence-based conversational chatbots that respond to customer queries to help them resolve issues raised by them.
The company expects growth to come from ecommerce facilities being developed on WhatsApp.
"We think WhatsApp is going to be the new storefront for digital India. Within 12 months, we believe that every business, small or big, will have some sort of a WhatsApp business account. You will actually see the ability on WhatsApp to buy products. That is the area that we are all super excited about and spending the majority of our time on," Vaish said.
He said that the company is also leveraging the relationships of Reliance Group in India and overseas to expand the business.
"For us, the US, Southeast Asia, Africa, and the UK are the primary regions that we are going after. Currently, 60 percent of our revenue comes from India, and 40 percent is non-India. This should become 50-50 by the next quarter. If we have to keep up with our growth rates, then 60 to 70 percent of our customers will come from geographies, other than India primarily led by the US," Vaish said.
He said 50 percent of the business for Haptik comes from ecommerce, 20 percent from financial services and fintech, about 20 percent from telecom, DTH, and 10 percent from various types of enterprises including Jio.
Edited by Kanishk Singh