Bengaluru headquartered ecommerce intelligence solutions provider DataWeave on Friday said it has acqui-hired Gurugram-based Silversparro Technologies.
Financial terms of the deal were not disclosed.
The deal, a statement said, will see Silversparro’s core product -- an AI-powered video analytics platform called Sparrosense -- move under the Dataweave umbrella.
Sparrosense boosts shop-floor monitoring by offering insights to solve delays, drive productivity and optimise processes. According to the statement, the startup’s SaaS platform increases business productivity by over 10%.
The deal will help DataWeave, an ecommerce analytics platform that provides sales optimisation solutions to global omnichannel retailers, consumer brands and marketplaces. The company’s technology helps ecommerce businesses make smarter pricing and merchandising decisions.
“Sparrosense teams’ rich experience of building a startup, which offers [an] AI-driven product platform to customers, makes them an appropriate fit for DataWeave,” Karthik Bettadapura, co-founder of the ecommerce analytics platform, said in the statement.
“We at DataWeave are looking at aggressively expanding our customer base and strengthening existing product offerings. The Sparrosense team will play a vital role in helping us achieve our goals in 2021 and the years to come,” he said.
As part of the transaction, Sparrosense co-founder and CEO Abhinav Gupta will join DataWeave and lead new strategic initiatives. CTO Ankit Agarwal and chief AI officer Ravikant Bhargava will focus on building a highly scalable backend and add strength to DataWeave’s AI, NLP and computer vision initiatives, respectively.
The trio founded the video analytics startup in 2020 and have raised $365,000 across two funding rounds led by investors from GSF Accelerator.
“Dynamics of ecommerce has been completely reset in 2020. DataWeave is in the perfect place to benefit from these changes and grow rapidly in the next few years. Joining forces is going to add required bandwidth to exploit this opportunity,” Sparrosense’s Gupta said.
In spite of Covid-19, DataWeave added 50% more clients in 2020 compared to 2019. Its clientele includes major players such as Sauder and Metro, while its investors include Blume Ventures, Waterbridge Ventures, Rajan Anandan, and Recruit Holdings.