SUMMARY
The US-based SaaS company said AutomationFactory.AI will join its global engineering hub that focuses on innovation for field service management space
As part of the acquisition, AutomationFactory will triple its team to over 120 people in a year
AutomationFactory, founded in 2020 by Love Chopra and Amit Bana, provides various solutions to help data-driven enterprises digitally transform themselves
US-based Cilio Technologies has acquired Noida-based end-to-end digital transformation and product development startup AutomationFactory.AI.
With this acquisition, AutomationFactory will become Cilio Automation Factory, Cilio’s global engineering hub with focus on innovation for field service management space, the US-based company said in a statement.
However, it didn’t disclose the financial details of the deal.
According to PTI, AutomationFactory will triple its team to over 120 people in a year post the acquisition.
AutomationFactory, founded in 2020 by Love Chopra and Amit Bana, helps data-driven enterprises digitally transform themselves by providing data engineering, advanced analytics, devops automation, intelligent process automation and artificial intelligence solutions. It provides consulting, information technology solutions and outsourcing services.
On the other hand, Cilio is a SaaS provider that operates in the home improvement space. It provides services to manufacturers, retailers and installers. It counts companies like Caesarstone, IKEA, LG, Lowes Home Improvement among its customers.
Commenting on the acquisition of AutomationFactory, Cilio’s president Rick Olejnik said, “The software engineering capability on this team is top notch and together we have the most powerful R&D organization in the home installation field service management industry.”
The integrated team of the two enterprises will be based out India and will continue to support and expand Cilio’s existing systems integration business and clientele.
One of the primary objectives of the AutomationFactory team will be to develop solutions for Cilio customers to expand digital transformation consulting, project delivery, and talent augmentation services. It will look to address the requirement of the South Asian home installation market, which is estimated to be worth over $10 Bn and growing 10% annually.
With rising digitisation, SaaS startups and companies have been receiving a lot of interest from investors.
Earlier this month, KaarTech raised a funding of $30 Mn from Mumbai-based investment firm A91 Partners to strengthen its presence in the markets of the Middle East, the European Union and North America.
Before that, SaaS startup Togai raised $3.1 Mn in a seed funding round for product development and expansion across new geographies.
