Bengaluru-based chat-commerce platform LookUp got acquihired by NowFloats, which creates websites on the fly for SMEs.
Founder and CEO of LookUp Deepak Ravindran told YourStory, “It’s an acquisition. Product will continue to grow.”
The deal will be announced soon and LookUp’s core team will be joining NowFloats team next week, as part of the acquisition.
It is still unclear whether LookUp’s team will move to Hyderabad, which is where NowFloats is based. LookUp had raised little over $500,000 from Infosys Co-founder Kris Gopalakrishnan, MKS Switzerland, MA, DeNA and Teruhide Sato in two funding rounds. It is a chat-based commerce platform, essentially enabling users to discover and reach out to merchants in their vicinity.
NowFloats which was founded by Jasminder (CEO) and Nitin Jain (COO) in 2012, marries location and mobile to help local businesses create and manage their SEO-powered websites via SMS.
According to a startup data tracker, there were over 46 Indian tech startups in chat-based mobile personal assistants space including Goodservice, Helpchat, Haptik, Niki.ai and MagicX. However, a majority of them had shut shop, while funded firms struggled to find strong and consistent interest from users.