Aurionpro Solutions Limited has acquired Arya.ai, a Mumbai-based banking and insurance startup, for approximately $16.5 million. As per the report, the acquisition will happen all in cash involving a second acquisition and capital infusion.
The Mumbai-based Aurionpro Solutions comes as an advanced technology solution provider meeting the needs of mobility, payments, banking and government-owned entities.
According to the deal, Aurionpro, which will grab a majority stake of 67% in Arya.ai, will expand its existing portfolio using the latter’s products and expertise in artificial intelligence, intelligent automation, deep learning, PaaS, autonomous AI platform and industry solutions.
The report names Four-S Services the transaction advisor to Arya.ai for this strategic acquisition made by Aurionpro.
Arya.ai, founded by Deekshith Marla and Vinay Kumar Sankarapu in 2013, comes with components for BFSIs through its PaaS offering. These are Arya API, Libra and AryaXAI. Arya API works as a service and DIY platform with more than 80 custom ML models for companies across BFSIs. Whereas Libra offers multiple SOTA Ml models capable of executing several BFSI tasks. The last one AryaXAI will hit the market with ML observability and an alignment tool to offer off-the-shelf AI governance.
Arya.Ai’s client portfolio stands at over 100 BFSI companies worldwide, with majority of them in South-East Asia and India, according to startup news India.
Arya.ai has hit the investment ground running too by raising nearly $2 million from Sparkle Fund, VentureNursery, YourNest and others.
YFS Shares Opinion on Aurionpro’s Acquisition of Arya.ai
The all-cash deal will likely help Aurionpro expand its product portfolio and client base. Aurionpro will leverage the advanced technology and expertise of Arya.ai to gain a strong foothold in the artificial intelligence space, opines Your First Startup (YFS).