Coinbase Acquired Agara-Indian AI Startup To Improve Customer Service

Coinbase acquired Agara, an Indian AI startup in a bid to improve the customer services of the exchange by using AI and machine learning so let’s read more in our latest Coinbase news today.

Coinbase is the largest crypto exchange in the United States and it is working to improve customer support while expanding in India as coinbase acquired Agara, the Indian AI startup. The exchange announced on Tuesday that it acquired Agara, the artificial intelligence-enabled support platform that has operations in the United States and India.

The acquisition aims to expand and automate the customer service of the exchange by providing a new machine learning and natural language processing tool for the engineering team of the exchange. The deal reconfirms the company’s strategy to expand the tech hub in India. With the new acquisition, Coinbase will pay up to $50  million for the technology that it will be using. The two companies are expected to seal the deal later this year.

Founded in 2017, Agara works on machine learning and natural language processing in order to improve the user experience and has more than 40 people working at the company. Agara also managed to get to some large customers including software company Salesforce and e-commerce giant Shopify. According to Pankaj Gupta, the head of operations at Coinbase in India, the tech team from Agara will join coinbase as a part of the acquisition. Gupta as a co-founder of Agara himself, expects the purchase to be a great deal for both companies:

 “It’s amazing to see my worlds collide here with Agara, a startup I co-founded in early 2017 but later left to join Google.”

Agara co-founder and CEO Abhimanuy noted that the company has been able to integrate its technology into phone-calls based communication with customers and said:

 “Some of the more complicated things we do are around phone calls. We have been working to automate much of, if not all, of the support that happens through phone calls.”

The exchange’s efforts to improve its customer experience came as the company had a hard time providing proper customer service. The users even slammed Coinbase’s new phone support line with many saying that it was a joke. The exchange came under fire multiple times for bad customer service with users complaining of hacked accounts and losing their assets.