iNDICA NEWS BUREAU-
BRAIIN Holdings, a New York-based artificial intelligence and robotics firm has acquired Exato.ai, a prominent CXaaS (customer experience-as-a-service) company in Noida, to get a toe-hold in the Indian market and set up its operations in the country. The firm plans to invest $100 million to fuel its expansion plans in India.
Through this acquisition, BRAIIN hopes to expand its presence in the customer and employee experience sector and increase its revenue. “We think India is a huge market and for this, we’ve committed about $100 million towards expansion into the Indian market over the first eight months,” said Natraj Balasubramanian, Chief Executive Officer, BRAIIN Holdings. “India is a great market. It’s been doing really well as far as the GDP (gross domestic product) is concerned.”
Balasubramanian said the firm sees a lot of potential in the Asia Pacific region, and India is a critical market for innovation in the fields of artificial intelligence, Internet of Things (IoT), and data analytics. Balasubramanian also intends to make several other acquisitions to bolster its market presence and provide cutting-edge technologies in the agriculture, telecommunications, and services sectors. Through several synergistic acquisitions, the company’s market capitalization increased from $215 million to $572 million over the past six months.
“The capital would be used towards mergers and acquisitions and creating new jobs. As the market continues to experience rapid growth, we are even looking to expand our presence into adjacent markets, such as marketing technology, automated processes, and CRM,” he added.
“We are excited to join forces with BRAIIN. This partnership will allow us to scale up our innovations and bring value to a broader audience,” said Appuorv Sinha, CEO, Exato.ai. “BRAIIN’s entry into India is set to be a game-changer in the country’s technological ecosystem, with the infusion of capital, expertise, and innovation. We are hoping to catalyze significant progress in the fields of agriculture, telecommunications, and the services industry,” Sinha said. He added that the AI firm is holding meetings with the Indian government to introduce AI technologies in the area of agriculture on a large scale. It is also looking to tap into the areas of tea and rubber plantations.
