Haptik, the India-based creator of a personal concierge app, has received a series B investment from internet company Times Internet reported by TechCrunch today to be $11.2m in size.
Founded in 2014, Haptik has developed an app that enables users to outsource services or information tasks to assistants. The most widely made requests involve shopping, travel, food delivery, restaurant booking and mobile plan costs
Haptik will use the funding for product development, particularly concerning its artificial intelligence technology, which it hopes to strengthen in order to cut the costs associated with human staff. Currently, AI is responsible for completing around 25% of the 500,000 requests it gets each month.
The company will also seek to leverage Times Internet’s 150 million-strong user base in order to grow its business. It previously raised $1m in seed funding from venture capital firm Kalaari Capital in 2014 and has not disclosed any funding in between.
The series B round was originally reported by NextBigWhat yesterday without the size, which was told to TechCrunch by an undisclosed source close to the deal.