Boxx.ai, a Bangalore-based AI start-up for e-commerce, has been acquired by Netcore Solutions – a stalwart in SaaS-based multi-channel marketing automation.
Netcore will be taking over all of Boxx.ai’s technology, IP clients and team through part-cash and part-stock deal, thereby giving an exit to the investor.
Additionally, as a part of the deal, founders Ajay Kashyap, Prakhar Raj, Shitiz Bansal and other team members of Boxx.ai will be joining Netcore, collaborating the capabilities of two companies to develop their products.
Ajay Kashyap, Founder, Boxx.ai said “E-commerce companies spend a lot of money to get visitors on their sites, but 98 per cent of them leave without buying. Boxx.ai solves this.”
Ajay further explains “It converts visitors to buyers. Integrating this capability with Netcore’s multi-channel marketing platform makes a killer combination for brands. They would be able to deliver a customer experience that is just perfect: right choice of channel, right timing of communication, right content, right creative, right messaging and right offers.”
Kalpit Jain, Group CEO, Netcore Solutions said “We absolutely understand the value and importance of machine learning (ML) and artificial intelligence (AI), and personalisation to empower brands to deliver exceptional customer experiences. And hence these are the primary focus areas with all our offerings.”
He added “Boxx.ai’s acquisition is yet another step towards that vision. This new piece in our product stack will definitely deliver great value to our customers and their end consumers. We are excited to see what the future in AI-first marketing will look like.”
Boxx.ai is known for utilising ML and AI to deliver a personalised experience for the customers thus increasing the conversion rate; also using its proprietary algorithm the solution can predict the next buy of the customer.