BRAIIN Holdings plans to invest $100 million in India as part of expansion
By siliconindia | Monday, 27 November 2023, 10:24:58 AM IST
BRAIIN Holdings, an AI and robotics firm based in New York, has made its entry into the Indian market by acquiring Exato.ai, a prominent CXaaS (Customer experience-as-a-Service) company. The acquisition will serve as a strategic foundation for BRAIIN's operations in India, expanding its presence in the customer and employee experience sector and increasing its revenue. While the value of the transaction was not disclosed, this move is expected to bolster the company's operations in India and beyond.
“We think India is a huge market 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", he said.
According to Balasubramanian, the firm recognizes a vast potential for growth in the Asia Pacific region, where India plays a critical role in driving innovation in artificial intelligence, Internet of Things (IoT), and data analytics. In the near future, BRAIIN plans to acquire cutting-edge technologies in sectors like agriculture, telecommunications, and services to offer state-of-the-art solutions.
"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.
Through several synergistic acquisitions, the company's market capitalization increased from $215 million to $572 million over the past six months. “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. The AI firm is in conversations with the Indian government to introduce such technologies in the area of agriculture on a large scale. It is also looking to tap into the areas of tea and rubber plantations.
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