SpinCar, an internatioanl player in digital automotive merchandising software and data, announced on May 11 that it has acquired Pulsar AI, billed as the Georgian creator of the auto industry’s most advanced conversational AI platform.

The deal values the Georgian start-up at “several tens of millions of dollars,” according to the Georgian authorities - which supported the development of the firm through the Georgian Innovation and Technology Agency (GITA).

Dachi Choladze and Zaal Gachechiladze began creating AI-based technologies for various financial companies in Georgia in 2016. In 2019, Sopho Chkoidze joined the team and together they founded Pulsar AI, said to have created the world's most advanced Conversational AI technology.

Pulsar AI attracted a $1.2mn investment in Silicon Valley in 2019. The startup was one of the first companies to receive support from GITA.

By combining Pulsar’s virtual sales assistant technology with SpinCar’s industry-leading digital merchandising offering, the company will expand its solution set to drive greater levels of online shopper engagement and lead conversion for auto retailers.

“Pulsar’s team of deep learning specialists, developers, data scientists, linguists and operations personnel have developed some of the most powerful conversational AI capabilities available today,” said Devin Daly, SpinCar co-Founder and CEO.

According to the Georgian Ministry of Economy, this deal represents the biggest success yet for Georgian startups - Pulsar AI is the first Georgian technology startup that has successfully sold its intellectual property on the international market.

"Georgian startup Pulsar AI crossed the borders, crossed the ocean and fulfilled the dream of every startup! In 2014, with the creation of the Agency for Innovation and Technology (GITA), we launched a knowledge-based, innovative economic vision. I am happy and proud that in this short period of time the ecosystem has developed rapidly. This is a visible confirmation that Georgia has made significant progress in creating and promoting startups with global potential, ”said Georgian Prime Minister Irakli Gharibashvili, congratulating the Pulsar AI team on its success.