Aurionpro Solutions, (BSE: 532668) (NSE: AURIONPRO), a Navi Mumbai, India-based provider of advanced technology solutions for enterprise transformation, announced the acquisition of banking and insurance focused PaaS startup Arya.ai.
The aggregate investment including secondary acquisition and funding was approximately USD16.5M. The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company, in an all-cash deal.
The acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s portfolio.
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai is a Banking and Insurance focused PaaS startup that uses deep learning and deploy it in enterprises. Its BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
Led by CEO Ashish Rai, Aurionpro Solutions provides convergence of advanced technology solutions that help enterprises accelerate Digital Innovation – securely and efficiently. We are “One Platform”, guiding businesses to ADAPT to a new paradigm in Digital Transformation across Banking, Transportation, Logistics, and Government sectors.
Commenting on the news, Ashish Rai said: “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
FinSMEs
22/04/2024