Coinbase acquires Agara
Indian AI-powered support platform Agara was recently acquired by cryptocurrency exchange Coinbase for an undisclosed amount. The acquisition was aimed to bring the former’s machine learning and natural language processing expertise into Coinbase’s fold.
“We plan to leverage Agara’s powerful Deep Learning and Conversational AI technology to automate and enhance our customer experience (CX) tools. Improving our CX remains a top priority for Coinbase — in the past few months we have increased our support staff headcount by 5x and announced that we’ll deliver 24/7 phone support and live messaging by end of year. Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options” said Coinbase EVP- Engineering Manish Gupta.
Coinbase has expressed plans to expand into India and currently backs Indian crypto startups CoinDCX and CoinSwitch Kuber. The company appointed Pankaj Gupta as its development head for India earlier this year who stated, “We have ambitious plans for this hub in the near future — we want to hire hundreds of world class engineers in the near term. This team of engineers will be complemented by equally high quality product and design teams, as well as support functions such as recruiting and HR to build out a sustainable, well-rounded tech hub.”
Agara counts Gupta as one of their board members and advisors.
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