Aurionpro Solutions Limited has announced the strategic acquisition of Mumbai-based banking and insurance-focused PaaS startup Arya.ai. This will be an all-cash deal and the aggregate investment including secondary acquisition and fund infusion is approximately $16.5 million.
Headquartered in Mumbai, Aurionpro Solutions is an advanced technology solutions company catering to the needs of the banking, mobility, payments, and government sectors.
As a part of the deal, Aurionpro 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 industry solutions, to complement and strengthen Aurionpro’s existing portfolio.
Four-S Services was the transaction advisor to Arya.ai on the deal.
Launched in 2013 by Vinay Kumar Sankarapu and Deekshith Marla, Arya.ai’s PaaS offering for BFSIs primarily has three components: Arya API – models-as-a-service and DIY platform offering more than 80 fine tune 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’.
Currently, Arya.ai works with more than 100 clients in BFSIs across the globe with major concentration in India and South-East Asia.
Arya.ai has raised around $2 million from the likes of YourNest, VentureNursery, and Sparkle Fund.
