SINGAPORE, April 20,
2024 /PRNewswire/ -- Aurionpro Solutions Limited
(BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking
and Insurance focused PaaS startup, Arya.ai. With Arya.ai,
Aurionpro will enhance its portfolio of enterprise fintech
offerings to expedite adoption of AI that is responsible,
accurate, and auditable.
Aurionpro Solutions Ltd. will acquire a majority stake
(67%) in Arya.ai. This 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 industry leading portfolio.
The transaction comprises acquisition of shares held by the
existing shareholders and subscription of new equity capital in the
company. This will be an all-cash deal. The aggregate investment
including secondary acquisition and fund infusion is
approximately 16.5 MN USD.
By integrating Arya.ai's cutting-edge AI cloud platform, with
Aurionpro's comprehensive suite of offerings, the company will
create an industry leading Enterprise AI platform focused on
creating value for financial institutions globally.
Commenting on the acquisition, Ashish
Rai, CEO of Aurionpro Solutions, stated, "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."
"Our decade long experience in building tools/platform for
deep learning helped us to build a truly verticalized AI Operating
System for Banking and Insurance." Says Vinay Kumar CEO/Founder
of Arya.ai. "Together with Aurionpro, we are going to build a
new generation of Enterprise AI software for Banks and Insurers
that truly embeds AI, augmenting a task or Autonomous Agents that
can take over entire transactions".
Founded in 2013 by Vinay Kumar
and Deekshith Marla, Arya.ai has been one of the first 'AI'
startups to use Deep Learning and deploy in enterprises. Arya.ai's
BFSI PaaS offerings include Arya API with 80+ ML models, Libra for
fine-tuning SOTA ML models, and AryaXAI for AI governance.
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SOURCE Aurionpro Solutions Limited