Reliance Industries’ Haptik Hires Saumil Shah New VP of Engineering

Key Highlights

Haptik hired Saumil Shah as the new Vice President of Engineering

Shah will be handling the end-to-end engineering and product delivery

Haptik acquired Convrg to expand its business in North America.

Haptik is a Reliance subsidiary specializing in conversational artificial platforms, hired Saumil Shah as the new Vice President of Engineering. Before Haptik, Shah was a part of a food startup called Box8.com. Shah will be joining the team soon and would be operating from the AI platform headquarter in Mumbai.

Shah will be handling the end-to-end engineering and product delivery, as a part of the executive leadership team. The new VP is responsible to report directly to the Co-founder & CTO SwapanRajdev. Apart from his work in Box8, shah has profound knowledge in cloud storage, handling quality engineering, and rose through the ranks to introduce and manage a crew of 50 plus members to provide better quality productivity tools.

He said, “I have huge faith in the power of artificial intelligence. Reliance’s Haptik has been at the forefront of the paradigm shift and put itself at an inflection point as a successful company today.” Shah also mentioned that he excited to be a part of Haptik and leverage enterprise software and AI to improve customer experience.

Related : Haptik’s New Chatbot

The Reliance’s AI-based subsidiary continues to grow into 160 people crew, now including the acquisition of US AI start-up Convrg. Haptik acquired the LA-based conversational AI platform to expand its business in North America.

Haptik co-founder and chief executive AakritVaishsaif that the company has realized the requirement for dedicated full-time operations in the United States. “The team we have set up in place provides us a robust foothold in the US.”

The transaction comes soon after Reliance, through completely owned unit Reliance Jio Digital Services Ltd, holds an 87% stake in Haptik for a complete amount of $100 million. Currently, Reliance said it would pay INR 230 crore ($39 million) for the starting business transfer from Haptik to completely owned unit Jio Digital Services Ltd.

Haptik will follow to operate as a separate brand entity with its founding team and workforce becoming a subsidiary of Reliance Jio Digital.

Haptik is one of the biggest venture conversational AI platforms in the world. Founded in 2013 by Vaish and Rajdev. Vaish is a contender to the Forbes India 30 under 30 lists in 2015 and Jadev has been an Ex-ETL consultant at Accenture. Haptik consists of 500 plus brands like Coca-cola, ICICI Bank, Samsung, Mahindra Group, and others.

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Haptik aims to focus on key customer engagement use cases like lead generation, analysis, order status, and live chat. They have been endorsed by numerous analysts as suggested chatbots assistance and includes more than 100 live developments by June 2018. Haptik is the first company to introduce provenance chatbots only entity detection engine, and are patent imminent on a bot to human routing potential.

Haptik’s former investors have been the Times Internet, where they owned around 70% of the company’s share. Other institutional investors such as Kalaari Capital has cashed out in the previous funding round.

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