Agara, a Bengaluru-based deep tech startup, has been acquired by Coinbase

The bitcoin market continues to gain traction. Coinbase, the US-based cryptocurrency exchange, announced on Tuesday that it has acquired Agara, an AI-powered support platform with operations in India and the United States.

This is Coinbase’s first purchase in India, where the company has been hiring to expand.

Abhimanyu Singh, Pankaj Gupta, and Arjun Maheswaran founded Agara, which automates end-to-end customer support operations for even the most complicated types of enquiries. Its voice agents provide a customised and comprehensive solution, answering customer calls, assisting with troubleshooting, and delivering a level of service that is comparable to that of human agents.

To date, Blume Ventures, RTP Global, and UTEC have invested roughly $7.5 million in the four-year-old company.

“Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options. In addition to Agara’s technology, the Agara team brings deep expertise in ML and NLP to Coinbase and will augment our existing product, engineering, and data teams,” said Coinbase in a blog post.