BRAIIN, a US-based artificial intelligence (AI) and robotics company, has forayed into the Indian market with the acquisition of Exato.ai, reported Business Standard.
Exato.ai is a customer experience-as-a-service (CXaaS) company, which is expected to serve as a strategic foundation for BRAIIN’s operations in India.
Along with growing its revenue, the AI company has strengthened its position in the CXaaS space through the deal.
In an interview, BRAIIN CEO Natraj Balasubramanian said: “We have committed about $100m (Rs8.3bn) towards expansion into the Indian market over the first eight months.
“India is a great market. It has been doing really well as far as the GDP (gross domestic product) is concerned.”
According to Balasubramanian, the Asia Pacific area has a lot of potential, and India is a crucial market for advancements in data analytics, the Internet of Things (IoT), and AI.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
BRAIIN provides actionable intelligence to its clients in the telecom, agricultural, and service industries by utilising technologies such as AI and machine learning, IoT, and robotics.
In the near term, BRAIIN plans to make a number of acquisitions to offer more advanced solutions.
The AI company is in talks with the Indian government about implementing its technologies in the field of large-scale agriculture.
It also intends to enter the tea and rubber plantation industries.
“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,” Balasubramanian added.
Exato.ai CEO Appuorv Sinha said: “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.
“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 catalyse significant progress in the fields of agriculture, telecommunications, and the services industry.”