BigBasket, a Tata Group-owned etailer, revealed on Saturday that it has acquired the enterprise business unit of deep-tech startup Agrima Infotech in an attempt to revolutionise offline retail.
At the self-checkout counters of BigBasket’s retail outlets, Kochi-based company Agrima Infotech’s unique customer vision technology platform, Psyight, will be implemented.
Psyight, developed by Agrima Infotech’s Anoop Balakrishnan, Arun Ravi, and Nikhil Dharman, enables identify all Indian fruits and vegetables from an image without the use of barcodes.
Balakrishnan, cofounder and CEO of Agrima Infotech, believes that his company’s partnership with BigBasket would revolutionise the offline shopping experience in India.
“BigBasket will use this expertise on AI (artificial intelligence) and ML (machine learning) to enrich and enhance a whole lot of technological innovation in the company,” Hari Menon, CEO, BigBasket said.
“We look forward to working with Agrima team to build solid innovation in the grocery space,” he added.
BigBasket inaugurated its first technology-driven self-service physical store, Fresho, in Bengaluru in November of last year.
By fiscal year 2023, the Bengaluru-based online grocer intends to open 200 physical locations across the country. Menon stated that the company plans to expand to 800 outlets by 2026.
