Bharti Airtel, one of the leading Indian telecom player, has acquired AuthMe ID Services, a Bengaluru based startup focused on Artificial Intelligence (AI)-based solutions. As part of the “acquihire” deal, the core team of AuthMe will join Airtel and will be a part of Airtel X Labs in Bengaluru.
Airtel has also acquired the intellectual property rights for two flagship solutions developed by AuthMe. Airtel had set up Airtel X Labs with the aim of driving cutting-edge innovation in the areas of AI, IoT (Internet of Things), augmented reality (AR) and virtual reality (VR).
In a statement, Harmeen Mehta, Global CIO, Bharti Airtel, said:
We are thrilled to bring on board a bunch of highly talented people who share our passion for building exciting digital solutions that benefit our customers.
We are rapidly scaling up Airtel X Labs, our digital innovation factory, and these new solutions will accelerate our journey towards rolling out intuitive digital products, particularly in vernacular languages, for our 430 mn plus customers.
Founded by Shardul Lavekar and Vivek Mehta, Authme was a part of 12 startups selected for Yes Bank’s first Fintech Accelerator batch, in March last year. The security startup helps enterprises use AI to replace passwords with a unique pattern technology, bringing together UX and security. The startup has made human behavior their password and built a plug and play replacement to passwords in mobile apps.