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Recruit Invests in Techbins Solutions, A Provider of AI Conversational Commerce Platform "niki.ai", Serving Next Billion Users with Support for Local Language in India

May. 07, 2019
Recruit Co., Ltd.
Business / Management

Recruit Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yoshihiro Kitamura; referenced below as "Recruit"), an intermediate holding company of Recruit Holdings Co., Ltd., has invested in Techbins Solutions Pvt. Ltd. (Headquarters: India; CEO: Sachin Jaiswal), which provides "niki.ai", AI conversational commerce platform that supports local language in India. The investment was made through Recruit subsidiary RSP India Fund, LLC.

1. Background and Purpose

As smartphones proliferate, the population in India with access to the Internet is expected to reach 500 million persons, with English as the mainstream language. However, in a country with thousands of languages and dialects, the percentage of people who can make online transactions is said to be only 20% of smartphone users due to language limitations. Support for local languages is also becoming an issue.

2. About Investment in Techbins Solutions Pvt. Ltd.

niki.ai

Techbins Solutions offers "niki.ai," an AI conversational commerce platform that supports local language to empower people in making online transactions. "niki.ai" analyzes the language of users through natural language processing, enabling multiple online transactions over chat or voice interface on a single platform. Users can easily complete reservations for buses, taxis, hotels, restaurants, and more, as well as recharge prepaid mobile phones and pay bills, all on "niki.ai". In regional cities in particular, where there is a strong need for a conversational platform that supports local languages, usage of "niki.ai" has been growing 50% Month-on-month with the assistance and assurance that "niki.ai" is providing to the users there.

Through the new investment, Recruit will support the expansion of the platform provided by "niki.ai", while "niki.ai" plans to further enhance its features and attract new customers through the procurement of funds.

(1) Company Name Techbins Solutions Pvt. Ltd.
(2) CEO Sachin Jaiswal
(3) Address 897, 1st Floor, Koramangala 6th Block, 80 Feet Road, Bangalore - 560095
(4) Established June 2015
(5) Main business Development and operation of chat platform (niki.ai)
(6) Website https://niki.ai/

3. Overview of RSP India Fund, LLC

RSP India Fund, LLC invests in promising start-up companies with the aim of discovering new technologies and business models and securing business opportunities, with a view to creating new business domains for the Recruit Group in India.

(1) Company Name RSP India Fund, LLC
(2) Representative Hiroyuki Murai
(3) Address 8-4-17 Ginza, Chuo-ku, Tokyo
(4) Established April 8, 2015
(5) Main business Investment development business / Venture capital business