Netcore Solutions, a Global Marketing technology company, has acquired Quinto.ai, an AI chatbot start-up. With the IP and talent acquisition, Netcore gets access to Quinto's conversational AI-powered chatbot engine and its employees.
Quinto's co-founder Hrishikesh Rajpathakalso joins Netcore as Chief Data Scientist and will lead its Machine Learning and Conversation Analytics initiatives. Hrishikesh comes with over 12 years of experience in Machine Learning, Deep Learning and Natural Language Processing (NLP) technologies. He has worked with multiple international clients in life sciences and BFSI domain as an AI consultant. He co-founded Quinto 4 years back as a food recommendation platform which later pivoted to a conversational AI platform.
Quinto enables businesses to automate conversations with customers and improve customer experience. Businesses across verticals can use Quinto.ai's always-on 24x7 chatbot for automated product discovery, recommendations, Inside sales and Live chat. Quinto can be integrated with Facebook Messenger, WhatsApp, Slack and other popular chat platforms.
With Quinto, Netcore's Smartech gets capability of handling conversations in automation journeys riding on Quinto. This will be an industry first feature. With Hrishikesh onboard, Netcore will further strengthen its leadership through the AI/ML platform 'Raman' and will foray into the Conversational Analytics space.
Kalpit Jain, Group CEO, Netcore Solutions, said, "With the growth of Chat Platforms such as WhatsApp and Facebook Messenger, Voice Assistants like Siri and Alexa, as well as Smart Speakers, it's no surprise that Gartner predicts that by 2020, customers will manage 85% of their relationship with an enterprise without interacting with a human. We believe that Conversational AI will be a strategic asset for Marketers in their Martech stack and it will reshape how brands and customers interact with each other."
Hrishikesh Rajpathak said, "What makes this a great deal is the synergy between Netcore's focus on conversational marketing and Quinto's AI chatbot platform. I am excited to be a part of Netcore and contribute towards its next-gen initiatives across domains of marketing and sales automation."
Quinto was earlier backed by Rebel Foods Pvt Ltd (formerly known as Faasos Food Services Pvt Ltd), who now exits with this deal.
The deal was managed by Investment Bank Equirus Capital through Propeluss, a smart deal making platform.