{"id":30180,"date":"2024-04-19T06:29:56","date_gmt":"2024-04-19T06:29:56","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/19\/aurionpro-solutions-to-acquire-fintech-startup-arya-ai-for-16-5-million\/"},"modified":"2024-04-19T06:29:56","modified_gmt":"2024-04-19T06:29:56","slug":"aurionpro-solutions-to-acquire-fintech-startup-arya-ai-for-16-5-million","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/19\/aurionpro-solutions-to-acquire-fintech-startup-arya-ai-for-16-5-million\/","title":{"rendered":"Aurionpro Solutions to acquire fintech startup Arya AI for $16.5 million"},"content":{"rendered":"
\"Aurionpro<\/div>


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Financial services software firm Aurionpro Solutions<\/a> on Friday said it will acquire<\/a> banking and insurance focused startup Arya.ai for $16.5 million (about Rs 138 crore).
Under the all-cash deal, NSE-listed Aurionpro Solutions<\/a> is set to acquire 67% stake in the Mumbai-based company. <\/p>\n
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Platform-as-a-service Arya.ai, founded in 2013 by IIT Bombay graduates Vinay Kumar and Deekshith Marla, had raised about $2 million from investors such as YourNest, DMI Sparkle Fund and Venture Nursery. Most of these investors, barring a few angels, would be exiting the cap table after the deal, Kumar told ET.<\/p>\n

Aurionpro Solutions CEO Ashish Rai told ET that the acquisition will enhance its business offerings by leveraging Arya.ai’s capabilities in enterprise artificial intelligence (AI). \u201cThe acquisition empowers us to expand our geographical footprint into the US and Southeast Asia, tapping into new markets and opportunities,\u201d Rai said.<\/p>\n

Currently, the company generates about 60% of its revenue from India and 40% from the rest of the world, with the US accounting for about 8% and Europe, West Asia and Africa 4%.<\/p>\n

Arya.ai provides its banking and other financial services clients with a collection of pre-trained models required by banking, financial services and insurance firms at one place with Arya application programming interface. With Libra, it provides a repository of task-specific deep learning models that can be fine-tuned on users’ training data and with AryaXAI, it provides an observability tool in software.<\/p>\n

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\u201cWe\u2019ve been growing 3x year-on-year in the last couple of years and have been profitable,\u201d said CEO Kumar.The startup works with about 95 clients, including divisions of ICICI Bank<\/a>, HDFC Bank<\/a> and Axis Bank<\/a>. It employs 32 staffers, These include a core team of researchers and data scientists.<\/p>\n

All of Arya.ai\u2019s employees will continue to work on Arya.ai independently, Rai said. <\/p>\n

Aurionpro Solutions employs about 2,300 staffers across its offices in India and globally.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Financial services software firm Aurionpro Solutions on Friday said it will acquire banking and insurance focused startup Arya.ai for $16.5 million (about Rs 138 crore).Under the all-cash deal, NSE-listed Aurionpro Solutions is set to acquire 67% stake in the Mumbai-based company. Elevate Your Tech Prowess with High-Value Skill Courses Offering College Course Website IIM Lucknow […]<\/p>\n","protected":false},"author":2,"featured_media":30181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[9398,5347,34356,34353,34355,34352,34354,918,11883,2458,15608,2293],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/30180"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=30180"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/30180\/revisions"}],"predecessor-version":[{"id":30182,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/30180\/revisions\/30182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/30181"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=30180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=30180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=30180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}