Bangalore-Based Boxx.AI Acquired By Netcore Solutions

Boxx.ai, a Bangalore-based AI startup, which uses artificial intelligence and machine learning to help e-commerce companies increase their conversion rates by displaying the most personalised products for each user, is being acquired by Netcore Solutions, a noted company which deals in SaaS-based multi-channel marketing automation. With this part-cash and part-stock deal, Netcore would be acquiring all of Boxx.ai's technology, IP, clients and team, and would provide an exit to the investors. As part of the deal, Boxx.ai's founders – Ajay Kashyap, Prakhar Raj and Shitiz Bansal, along with the rest of the team will join Netcore to continue building their product. Ajay Kashyap, Founder, Boxx.ai, said in a statement, "E-commerce companies spend a lot of money to get visitors on their sites, but 98% of them leave without buying. Boxx.ai solves this – it converts visitors to buyers. Integrating this capability with Netcore's multi-channel marketing platform makes a killer combination for brands – they would be able to deliver a customer experience that is just perfect: right choice of channel, right timing of communication, right content, right creative, right messaging and right offers."