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Spark Eighteen acquires Voice AI startup JAM to boost capabilities
Deal brings voice tech edge as studio bets big on AI-led product growth
NEW DELHI: Spark Eighteen has acquired JAM, a Voice AI startup focused on building intelligent voice agents, in a move aimed at strengthening its capabilities in the fast-evolving artificial intelligence space.
Founded by Aayush Narang, Spark Eighteen has positioned itself as a global technology partner with a team of over 200 engineers, building digital products for startups and enterprises, particularly in the US market. The company operates a venture-building arm, Spark Eighteen Studio, alongside its investment vertical, Aay Capital, which backs early-stage startups.
JAM, founded by Ashish Khurana and Akshay Dewan, brings expertise in deploying scalable, human-like voice AI systems across use cases such as customer support, operations and workflow automation. Both founders were early team members at Zomato and Hyperpure, adding operational depth to the venture.
As part of the acquisition, Akshay Dewan will join Spark Eighteen as vice president of product and business operations, bringing experience in product strategy and scaling operations. Meanwhile, Ashish Khurana, who previously held leadership roles including senior director of engineering at Yubi and head of engineering at Zomato, will exit the company following the completion of the deal.
The acquisition will see JAM integrated into Spark Eighteen Studio, where it will contribute to building and scaling new AI-driven products, particularly in the voice interface layer, an area gaining traction as businesses look to simplify interactions with customers and systems.
Commenting on the move, Spark Eighteen founder Aayush Narang said, “Voice is emerging as a dominant interface in how businesses interact with customers and systems. JAM brings a strong foundation in this space, and together we aim to accelerate the adoption of intelligent, scalable voice solutions globally.”
Echoing this sentiment, JAM co-founder Ashish Khurana said, “We’ve always believed voice AI will fundamentally reshape user experiences in the tech and digital space. By joining Spark Eighteen, we are set to scale capabilities, talent and deploy faster across global markets.”
With this acquisition, Spark Eighteen is doubling down on its AI-first strategy, combining product engineering, venture building and investment under a unified ecosystem. As voice continues to gain ground as the next big interface, the deal positions the company to stay ahead in a rapidly shifting digital landscape.
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Reliance Retail FY26 revenue rises 11.8 Per Cent to Rs 3.7 lakh crore
Q4 revenue up 11.1 Per Cent, hyperlocal orders surge 4x, PAT steady
MUMBAI: Reliance Retail isn’t just ringing up sales, it’s ringing doorbells faster than ever. Reliance Retail Ventures Limited (RRVL) reported a steady FY26 performance, with growth powered by store expansion, a sharp surge in hyperlocal commerce, and consistent traction across grocery, fashion and jewellery. For the full year, revenue rose 11.8 per cent year-on-year to Rs 3,70,026 crore. In the January–March quarter, revenue from operations climbed 11.1 per cent to Rs 87,344 crore, up from Rs 78,622 crore a year earlier.
Operating performance remained stable, with Q4 EBITDA inching up 3.1 per cent YoY to Rs 6,921 crore from Rs 6,711 crore. However, quarterly profit after tax held steady at Rs 3,563 crore. For the full fiscal, PAT grew 11.7 per cent to Rs 13,842 crore.
Expansion remained a key lever. RRVL added 1,564 new stores during FY26, while simultaneously scaling its digital and hyperlocal commerce play. The latter emerged as a standout, with daily orders surging more than fourfold year-on-year in Q4, underlining a clear shift towards faster, localised fulfilment.
In grocery, large-format stores maintained momentum, aided by festive demand and the expansion of Smart Bazaar, which crossed 1,000 stores. Promotional campaigns such as ‘Full Paisa Vasool’ delivered record results, with sales rising 26 per cent YoY.
Digital commerce also picked up pace. JioMart added 5.8 million new users in Q4, nearly doubling its registered base year-on-year. Hyperlocal orders grew 29 per cent sequentially and over 300 per cent annually during the quarter.
Fashion and lifestyle saw steady traction. Ajio recorded a 23 per cent YoY rise in average bill value, while fast-fashion platform Shein crossed 11 million app installs, scaling rapidly with expanding product lines.
The jewellery business added further shine, with average bill value jumping 53 per cent YoY, largely driven by rising gold prices and sustained consumer demand.
Commenting on the shift, RRVL executive director Isha Ambani said hyperlocal commerce has become a structural growth driver, with orders rising more than fourfold over the year.
Looking ahead to FY27, the company is betting on technology to deepen engagement. The focus, Ambani noted, will be on AI-led merchandising, sharper pricing strategies and disciplined execution turning scale into sustained customer value.
In short, the carts are fuller, the clicks are quicker, and the next phase looks less about reach and more about precision.
