Aurionpro Solutions acquires Arya.ai

Aurionpro Solutions Limited has announced its strategic acquisition of Mumbai-based Banking and Insurance-focused PaaS startup, Arya.ai. This acquisition is poised to impact Aurionpro's enterprise fintech offerings by incorporating Arya.ai's expertise in Artificial Intelligence (AI), Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and tailored industry solutions. 

Under the agreement, Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai, consolidating its position in the AI-driven fintech landscape. Arya.ai's Enterprise AI solutions, which are working with over 100 Banks and Insurers across Asia, will go with Aurionpro's existing portfolio and will aid its capabilities to meet the evolving demands of financial institutions.

The transaction involves the acquisition of shares from existing shareholders and the subscription of new equity capital, making it an all-cash deal with an aggregate investment of approximately 16.5 MN USD, including secondary acquisition and fund infusion.

Through the integration of Arya.ai's advanced AI cloud platform with Aurionpro's offerings, the company aims to create a leading Enterprise AI platform tailored to deliver value for financial institutions globally. This strategic move aligns with Aurionpro's vision of developing highly differentiated software solutions that empower financial institutions to derive true business value from Enterprise AI, thus accelerating the adoption of responsible, accurate, and auditable AI solutions in the industry.

Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai brings together Aurionpro’s portfolio of enterprise software with one of the most mature Enterprise AI platforms focused on the needs of Banks and Insurers. It also brings together probably the most talented enterprise-focused AI/ML team in Asia with Aurionpro’s deep domain expertise and strengths to build highly differentiated Enterprise software. We are going through probably the most significant platform shift in the industry, and we are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”

“Making AI acceptable and scalable in the financial industry is extremely different and hard. It is relatively easy to use a new AI technique like MLPs or a self-supervised learning system and deploy the model. But to make it acceptable in a highly regulated industry like Banking or Insurance, it needs to be stable, reliable, explainable, auditable, compliant, and safe to use.”

Says Vinay Kumar CEO/Founder of Arya.ai, “Our decade-long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance. We’ve been growing 3x YoY in the last couple of years and have been profitable.”. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embed AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 

Established in 2013 by Vinay Kumar and Deekshith Marla, graduates from IIT Bombay, Arya.ai emerged as a pioneering 'AI' startup, leveraging Deep Learning technology for enterprise deployment. The company's Platform-as-a-Service (PaaS) offering for Banking, Financial Services, and Insurance (BFSIs) comprises three main components:

Arya API: A models-as-a-service and DIY platform providing over 80 finely-tuned Machine Learning (ML) models tailored for BFSIs.

Libra: A fine-tuning service platform offering state-of-the-art ML models optimized for various tasks in BFSIs.

AryaXAI: A forthcoming ML Observability and Alignment tool designed to deliver off-the-shelf 'AI' governance for critical 'AI' applications.

Presently, Arya.ai collaborates with over 100 BFSI clients globally, with a strong presence in India and South-East Asia. Backed by a dedicated team of researchers and data scientists, Arya.ai has made significant strides in publishing impactful intellectual property (IP) and transforming cutting-edge research into practical solutions for the BFSI sector, particularly in the realms of Deep Learning, Explainable AI, Model Alignment, and Computer Vision.