The strategic acquisition of Mumbai-based PaaS startup Arya.ai, which specializes in banking and insurance, has been announced by Aurionpro Solutions Limited. The entire investment, including secondary acquisition and fund infusion, will be all cash in this all-cash transaction. It is estimated to be around $16.5 million.
Aurionpro Solutions, a cutting-edge technology solutions provider serving the banking, payments, mobility, and government sectors, has its headquarters located in Mumbai.
Aurionpro will purchase a 67% ownership in Arya.ai as part of the agreement. The products and knowledge in deep learning, intelligent automation, artificial intelligence, Platforms as a Service (PaaS), autonomous AI platforms, and industry solutions that come with this acquisition will bolster and enhance Aurionpro’s current offering.
For the transaction, Arya.ai’s transaction advisor was Four-S Services.
Three main components make up Arya.ai’s PaaS offering for BFSIs, which was introduced in 2013 by Vinay Kumar Sankarapu and Deekshith Marla: More than 80 fine-tuned machine learning models specifically tailored for BFSIs are available through the models-as-a-service and DIY platform Arya API. Libra is a platform for fine-tuning as a service that offers multiple SOTA ML models optimized for different tasks in BFSI. AryaXAI, a soon-to-be-launched ML observability and alignment tool, will offer off-the-shelf “AI” governance for mission-critical “AI.”
With a primary focus on India and South-East Asia, Arya.ai currently serves more than 100 clients in BFSIs worldwide.
With the help of organizations like Sparkle Fund, VentureNursery, and YourNest, Arya.ai has raised about $2 million.
