Crypto Exchange Coinbase is buying Indian startup Agara, which operates an AI-powered customer support platform, both companies confirmed the acquisition. The move is part of the cryptocurrency exchange as it looks to make it easier for users to join the service and seek assistance.
The company not disclosed the financial details of the deal, but the size of the deal is between $40 million and $50 million, two people familiar with the matter told TechCrunch.
A Coinbase spokesperson declined to comment. Agara co-founder and chief executive Abhimanyu also declined to comment on the size of the deal, citing confidentiality agreement, the publication reported.
The startup, which employs over 40 people, has amassed several larger customers across the globe and offers integrations with a number of popular services such as Salesforce, Shopify, and Twilio.
Agara has built deep expertise in machine learning and natural language processing that it uses to improve user experience.
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