The development reportedly marks Wipro's 14th acquisition in the last 20 years, and with this the company aims to become a significant player in three categories: ready-to-cook, spices and snacks
The cloud-based enterprise tool incorporates proprietary artificial intelligence (AI) models and advanced generative AI capabilities to provide personalised customer interactions to brands. Large enterprise customers have already deployed the bots
With zero royalty fees and low investment in the ed-tech segment, the new initiative aims to provide ROI within 6 months and positive cash flow in the first year
Xaigi operates using a cash+equity business model, charging a specific amount of cash and the remainder in equity to align incentives with clients' success, and is presently working with three start-ups to develop their businesses
The funding will be utilised for serving a new customer pipeline, expanding its global presence and accelerating hiring to augment its product engineering, sales and delivery teams