Los Angeles, California-based Cleareye.ai, an artificial intelligence (AI)-based fintech solutions provider, has acquired Thiruvananthapuram headquartered startup AIWare.ai as part of its global expansion plans.
The financial terms of the deal were not disclosed.
“As a follow up of the acquisition, (the) India office is expected to hire 100 highly trained talents in cutting edge domains like data science, artificial intelligence in the coming months,” the buyer said in a statement on Tuesday.
The acquired entity has been renamed as Cleareye.ai India and will serve as the dedicated product development and research wing of Cleareye.ai, the statement added.
“The combined forces of our team in India and the global company will strengthen our ability to offer unique solutions, leveraging AI, bionic automation and advanced analytics,” Chandrasekhar Somasekhar, chief architect at AIWare.ai, said.
AIWare.ai offered its enterprise-based clientele quantum computing, distributed trust with blockchain and AI solutions. Cleareye.ai, on the other hand, provides AI-enabled services such as consumer experience sensing, insight generation from data and bionic processes for applications in banking.
Cleareye.ai, which offers products in regulatory, growth and cost technologies, was founded by a team of four former UST Global executives Murali Gopalan, Mariya George, Anoj Pillai and Sarath Sasikumar, in 2019.
Cleareye.ai did not respond to TechCircle’s request for comment on other deal-related specifics till the time of publishing.