Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech

Mumbai: Reliance Industries Ltd, through its subsidiary Reliance Jio Digital Services Ltd (RJDSL), has acquired 87% stake in artificial intelligence (AI) chatbot company Haptik Infotech Pvt. Ltd for ₹700 crore, the oil-to-data firm said Wednesday.

“On a fully-diluted basis, Reliance will hold about 87% of the business with the rest being held by Haptik founders and employees through stock option grants,” RIL said in a press statement.

The investment will help Reliance Jio Infocomm Ltd leverage Haptik’s capabilities to build India’s largest AI assistant across chat, voice and vernacular languages, RIL said.