Aurionpro Acquires Majority Stake in Arya.ai for $16.5Mn

Mumbai-based fintech firm Aurionpro has announced the acquisition of a 67% majority stake in Arya.ai, an AI-powered Platform-as-a-Service (PaaS) startup, for $16.5 million. This strategic move marks a significant expansion of Aurionpro’s capabilities in AI and machine learning, particularly within the banking and insurance sectors.

The acquisition, structured as an all-cash transaction, involves the purchase of shares from existing Arya.ai shareholders and a commitment to inject new equity capital into the startup. Arya.ai, founded in 2013 and also headquartered in Mumbai, provides a cloud-based PaaS that allows enterprises to develop bespoke AI solutions. Its key offerings include the AryaXAI module for AI governance, the Libra module for fine-tuning machine learning models, and the Arya API, which integrates over 80 machine learning models.

Aurionpro, which focuses on digital banking, cybersecurity, and government solutions, plans to leverage Arya.ai’s technology to build a comprehensive “enterprise AI platform.” This platform aims to accelerate the adoption of AI that is responsible, accurate, and auditable. The acquisition highlights Arya.ai’s expertise in AI, deep learning, intelligent automation, and autonomous AI platforms as valuable additions to Aurionpro’s portfolio.

This move follows Aurionpro’s recent acquisition of the loan management system Omnifin for $9.8 million from AS Software Services in October. With Omnifin’s assets, liabilities, intellectual properties, employees, and contracts now integrated, Aurionpro’s Vice Chairman Ashish Rai emphasized the company’s intent to expand its reach both in India and internationally.

Aurionpro’s strategic acquisition of Arya.ai is expected to bolster its AI capabilities, enabling the development of advanced solutions for its clients and enhancing its competitive edge in the fintech industry.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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