BigBasket has bought a Kerala-based startup, Agrima Infotech. The company will implement Agrima’s platform, Psyight, at its retail stores’ self-checkout counters.
Tata Group-owned etailer, BigBasket, stated on Saturday that it had acquired the enterprise business arm of a deep-tech startup Agrima Infotech in an effort to revolutionise offline retail.
BigBasket will use Kochi-based startup Agrima Infotech’s unique customer vision technology platform, Psyight, at its retail outlets’ self-checkout counters.
Psyight, developed by Agrima Infotech’s Anoop Balakrishnan, Arun Ravi, and Nikhil Dharman, aids in the identification of all Indian fruits and vegetables from images without the use of barcodes.
Balakrishnan, cofounder and CEO of Agrima Infotech, stated that his company’s collaboration with BigBasket will alter the offline shopping experience in the country.
CEO Hari Menon stated, “BigBasket will utilise this knowledge in AI (artificial intelligence) and ML (machine learning) to enrich and enhance a wide range of technological innovation in the company.”
Hari Menon added that BigBasket is excited to partner with the Agrima team to generate solid innovation in the supermarket sector.
The firm 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 add 200 physical stores across the country. Menon stated that the company intends to raise the number of outlets to 800 by 2026.
