BigBasket, a Tata Group-owned e-tailer, has acquired the enterprise business unit of a deep-tech company, Agrima Infotech, in a bid to revolutionize offline retail.
BigBasket will be implementing Kochi-based startup Agrima Infotech’s unique customer vision technology platform, Psyight, at the self-checkout counters of the former’s retail stores. Psyight, created by Anoop Balakrishnan, Arun Ravi, and Nikhil Dharman under Agrima Infotech, helps identify all Indian fruits and vegetables uniquely from an image without using barcodes.
Agrima Infotech, joining hands with BigBasket, will redefine the offline shopping experience in the country. BigBasket will use this expertise in AI (artificial intelligence) and ML (machine learning) to enrich and enhance a whole lot of technological innovation in the company.
In November last year, BigBasket opened its first technology-driven self-service physical store under the brand name “Fresho” in Bengaluru. The Bengaluru-based online grocer plans to open 200 physical outlets across the country by fiscal year 2023. It aims to increase that number to 800 stores by 2026.