Coinbase acquires Bengaluru-based deep tech startup Agara
Momentum in the cryptocurrency space continues to grow. Coinbase on Tuesday acquired US-based cryptocurrency exchange giant Coinbase, an AI-powered support platform agara with operations in India and the US.
This is the first purchase to expand people in India into the region for Coinbase.
“Through this acquisition, we are able to provide our customers with new personalized, intelligent, and real-time support options. In addition to Agara’s technology, the Agara team provides in-depth expertise in ML and NLP for CoinBase and our current products. , Engineering and data teams, ”Coinbase said in a blog post.
According to Coinbase, the company has increased its support staff head account by 5x over the past few months and will also offer 24/7 phone support and live messaging by the end of the year.
Although the companies did not disclose the details of the transaction, media reports indicate that Coinbase will pay around $ 40 million for the purchase.
Founded by Abhimanyu Singh, Pankaj Gupta, and Arjun Maheshwaran, Agra automates end-to-end customer support operations for the most critical types of queries. Its voice agents provide an appropriate and comprehensive solution for fielding customer calls, engaging in troubleshooting processes, and providing services on par with human agents.
The four-year-old startup has raised nearly $ 7.5 million so far from Bloom Ventures, RTP Global, and UTEC.
Coinbase has been focusing on expansion in India for the last 6-8 months. In April, the company appointed Pankaj Gupta as Vice President of Engineering and Site Lead for India. Gupta was previously the engineering lead for Google Pay in India and the Asia Pacific.
The Nasdaq-listed company is a supporter of two cryptocurrencies from India: Coinswich Kuber and CoinDCX.
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