SUMMARY
With this, Froot will operate under Aarav’s brand and will also become its sister company
As part of the deal, Aarav has onboarded Froot Research’s team. The company will also make further investments in Froot to scale its AI research and development team
The acquisition will further help Aarav to perform deep research-based work on AI apps and in the field of IP intelligence, automobile-machine intelligence and logistics
Ahmedabad-based IT company Aarav Solutions has acquired AI startup Froot Research for $4 Mn.
With this acquisition, Aarav will expand in the AI space and also launch AI-related products and platforms. Besides, Froot Research will operate under the Aarav brand name and become the latter’s sister company.
The acquisition will further help Aarav tap into deep research-based work done by IITs, NITs and MIT, and other institutes’ researchers on AI apps and in the field of IP intelligence, automobile-machine intelligence and logistics, a statement said.
As part of the deal, Aarav has onboarded the entire team of Froot Research. The company will also make further investments in Froot Research to scale its AI research and development team.
According to the statement, Aarav Solutions along with Froot Research will offer intelligent algorithms, model architectures, automated platforms, and products having human-like capabilities to enterprises.
“The acquisition will help Aarav Solutions expand its research capabilities and enterprise branding to further embolden its position in the intelligence market space. It will also allow Froot Research to benefit from Aarav Solutions’ expertise in next-generation technologies, processes, and domain expertise,” said Amit Gautam, founder of Froot Research.
Founded in Pune, Froot Research is a data intelligence startup that offers a range of services such as a value discovery platform, neuroscience-based advertisement efficacy analyzer, psychology-based content engine, and pro-active intelligence engine, among others.
Froot Research said that its foundations are based on concepts from various disciplines including psychology, neuroscience, and statistics. The startup combines these concepts to build intelligent models which are getting patented.
According to the statement, Froot Research’s innovative offerings and Aarav’s expertise in digital transformation will enable them to offer end-to-end solutions to customers.
“We are excited to welcome Amit Gautam and Froot Research to the Aarav Solutions family. Their team of experienced professionals and innovative approach will be a great asset as we continue to empower businesses with next-generation technology,” said Raj Darji, founder of Aarav.
Founded in 2012 by Darji, Aarav is an engineering and IT consulting company. It offers revenue and customer management solutions, cloud management and tech services, and builds next-generation AI-based products, among others.
Aarav claims to offer services to customers working in finance, telecom, government and other diverse sectors. It has a presence in India, the US, Canada, the UK, Australia and MEA regions.
