Aurionpro Solutions acquires Arya.ai to power next generation Enterprise AI platforms
Aurionpro Solutions Limited announces the strategic
acquisition of Mumbai-based Banking and Insurance focused PaaS startup,
Arya.ai. With Arya.ai, Aurionpro will significantly enhance its portfolio of
enterprise fintech offerings to expedite the adoption of AI that is
responsible, accurate, and auditable, aligning strongly with the rapidly
evolving demands of Banks and Insurers.
Under the terms of the agreement, 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 tailored industry
solutions, to complement and strengthen Aurionpro’s existing industry leading
portfolio. Arya.ai Enterprise AI solutions are trusted by 100+ Banks and
Insurers across Asia.
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
intends to create an industry leading Enterprise AI platform sharply focused on
creating value for financial institutions globally. Leveraging Arya.ai’s
expertise in AI solutions and comprehensive governance tools will greatly
accelerate Aurionpro’s vision of creating the next generation of highly
differentiated software that leads the industry in helping financial
Institutions realize true business value from Enterprise AI.
Commenting on the acquisition, Ashish Rai, CEO of
Aurionpro Solutions, stated, “The
acquisition of Arya.ai brings together Aurionpro’s portfolio of industry
leading enterprise software with one of the most mature Enterprise AI platforms
focused on the needs of Banks and Insurers. It also brings together probably
the most talented enterprise focused AI/ML team in Asia with Aurionpro’s deep
domain expertise and strengths to build highly differentiated Enterprise
software. We are going through probably the most significant platform shift in
the industry, and 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.”
“Making AI acceptable and scalable in financial
industry is extremely different and hard. It is relatively easy to use a new AI
technique like MLPs or self-supervised learning system and deploy the model.
But to make it acceptable in a highly regulated industry like Banking or
Insurance, it needs to be stable, reliable, explainable, auditable, compliant,
and safe to use. 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. We’ve been growing 3x YoY in the last couple of years
and have been profitable.” 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 embed AI, augmenting a task or
Autonomous Agents that can take over entire transactions”.
Founded in 2013 by Vinay Kumar Sankarapu and
Deekshith Marla from IIT Bombay, Arya.ai has been one of the first ‘AI’
startups to use Deep Learning and deploy in enterprises. Arya.ai’s PaaS offering
for BFSIs primarily has 3 components: Arya API – models-as-a-service and DIY
platform offering more than 80+ fine-tuned ML models specialized for
BFSIs; Libra – Fune-tuning as a service platform offering multiple SOTA ML
models that are optimized for various tasks in BFSI, and AryaXAI – a soon to be
launched ML Observability and Alignment tool to provide off the shelf ‘AI’
governance for mission critical ‘AI’. Today, Arya.ai works with more than 100+
clients in BFSIs across the globe with major concentration in India &
South-East Asia. With a core team of researchers and data scientists, Arya.ai
has been publishing extremely high impactful IP and productizing its world
class research into products for BFSI space in the areas of Deep Learning, Explainable
AI, Model Alignment and Computer Vision.
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