Chat-based delivery startup MagicTiger has acquired its competitor Instano in an equity deal. Instano is a chat based on-demand delivery service startup.
Commenting on the acquisition, Pratyush Prasanna, co-founder, MagicTiger, said, “Instano team did a great job with their business development in core geographical areas. They will now help us enhance our operations across Bangalore and help in business development.”
With a 30 member team, MagicTiger will now focus on increasing their footprint across Bangalore and expand operations in other cities by next year. Currently the company claims to handle a thousand transactions in a day and plans to enhance its technology platform.
Bangalore based MagicTiger uses AI technology to understand consumer behaviour. 30% of the transactions are based on AI and the company plans to strengthen its technology so as to have 90% of its transactions based on the technology.