Flipkart squares Cube26 exit in Paytm acquisition

Jun 19, 2018 • Robert Lavine

Paytm has paid an undisclosed amount for the AI technology developer, which raised $7.7m in a Flipkart-backed round in 2015.

Mobile payment technology provider Paytm acquired India-based artificial intelligence (AI) technology developer Cube26 today for an undisclosed sum, allowing e-commerce company Flipkart to exit.

Founded in 2012 as PredictGaze, Cube26 initially developed connected hardware products but latterly pivoted toward developing technologies in the AI, machine learning and enterprise spaces.

Flipkart participated in the company’s only publicly disclosed funding, a $7.7m round in 2015 that was led by hedge fund manager Tiger Global Management.

Cube26’s technology will be utilised by…

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