Coinbase Buys Agara and Its First Startup Acquisition in India

Rancakmedia.com – Coinbase, one of the largest cryptocurrency exchanges in the world, has announced the acquisition of its first startup in India.

The business bought Agara, an AI-powered support platform operating in India and the United States, for an undisclosed price. The acquisition is scheduled to be completed later this year.

Coinbase claims this transaction will add significant experience of Agara in machine learning and natural language processing to the company's technical staff.

“Agara's Deep Learning and Conversational AI technologies will be used to automate and improve our customer experience (CX) tools, in line with our business strategy. Increasing our CX is Coinbase's main goal – in the last few months we have grown our support personnel. 5x headcount and announced that we will be providing 24/7 phone support and direct messaging by the end of the year. We will be able to provide more tailored, intelligent and timely support alternatives to our clients as a result of this acquisition” according to Coinbase EVP of Engineering, Manish Gupta.

Earlier in 2021, Coinbase announced its goal of building a digital hub in the country and had appointed former Google Pay executive Pankaj Gupta to oversee its development center in India.

At the time, Gupta claimed that they would consider acquisitions and startup acquisitions to accelerate their expansion goals in the country.

“It is our goal to employ hundreds of world-class engineers in the near future at this hub. Recruitment and HR services, as well as other support functions, will help build a sustainable technology hub that is comprehensive in all aspects” Gupta made a statement back in July.

Founded in 2017, Agara counts Blume Ventures, RTP Global, Kleiner Perkins and UTEC Japan among its investors. Interestingly, Pankaj Gupta is also included in the “board members and advisers” section of the Agara website.

Coinbase, yang go public pada bulan April tahun ini, juga telah mendanai pertukaran crypto lokal seperti CoinDCX dan CoinSwitch Kuber, keduanya mencapai klub unicorn startup negara itu tahun ini.

Conclusion Regarding Coinbase Buying Agara and Its First Startup Acquisition in India:

Coinbase, one of the largest cryptocurrency exchanges in the world, has announced the acquisition of its first startup in India. Coinbase Purchased Agara, an AI-powered support platform operating in India and the United States for an undisclosed price. Agara counts Blume Ventures, RTP Global, Kleiner Perkins and UTEC Japan among its investors.