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Jio Haptik Expects 10x Revenue Growth to $100M by 2026, Telecom News, ET Telecom

New Delhi: Conversational AI platform Jio Haptik expects a minimum 10x growth in revenue to $100 million (about Rs 800 crore) by 2026, a senior official has said. society.

Haptik co-founder and CEO, Aakrit Vaish, told PTI that e-commerce, new-age businesses, and technology adoption by small and medium-sized businesses are key drivers for the company’s growth. .

“We will be 9 years old this Tuesday. Year one we had $400,000 in revenue, year two $1 million, and now this year we are on track to make $10 million. We have already crossed the $10 million mark of ARR (annual execution rate). We expect to reach $100 million ARR by 2025,” Vaish said.

He said the company will have at least $100 million in revenue by 2026.

Vaish said the company is focused on growing its business in a sustainable way and will become profitable if it stops investing in research and development projects.

Jio Haptik sees a revival of business in the e-commerce segment, new era companies like Fintech and other start-ups.

“Offline retailers trying to become e-commerce or new era e-commerce businesses are the biggest verticals for us. Then digital native or new era businesses – unicorns, tech, fintech, gaming, all of these sectors are drivers of growth. We probably have a 50% market share of unicorns in India. We work with a lot of them,” Vaish said.

Jio acquired a majority stake in the company in April 2019.

The Company provides an AI-powered conversational platform for businesses on WhatsApp, website, mobile app, Instagram, Google Business Messages, SMS, etc.

Small and medium-sized enterprises currently represent 20% of global activity.

The company has offices in the United States, United Kingdom, South Africa, United Arab Emirates and Malaysia and plans to add more people to overseas offices.

Vaish said the SME segment is one of the fastest growing segments for the business for which the business operates under the Interakt brand name.

He said Interakt’s own-source revenue at the current rate of growth is expected to at least quintuple to $10 million by 2024, from about $2 million currently.