GACM Technologies Invests in AI-Edtech Future
GACM Technologies has announced its acquisition of a 30% stake in AI-edtech company WeXL Edu Pvt Ltd. The deal, valued at Rs 500 crore, aims to expand into the education and GovTech sector. WeXL holds government contracts and has patented AI-based solutions, with potential large-scale deployment with CBSE.
- Country:
- India
GACM Technologies has inked a pivotal agreement to acquire a substantial 30% equity stake in AI-edtech firm WeXL Edu Pvt Ltd, as per a recent exchange filing.
The company estimates the valuation of this strategic acquisition to be around Rs 500 crore, indicating a significant investment in the burgeoning AI-edtech sector.
This move will enable the Telangana-based financial tech company to leverage WeXL's robust data and AI platform, marking a strategic shift towards advanced AI framework development.
GACM aims to diversify into the lucrative education and GovTech sectors, promising government orders, long-term contracts, and attractive high-margin solutions.
WeXL's order book stands confirmed at over Rs 30 crore, with substantial contracts from the Delhi and Tamil Nadu governments.
The firm boasts a portfolio of five patents, catering to AI-powered educational solutions, publicized in an official filing.
WeXL is also negotiating a potentially significant Rs 200 crore deployment opportunity with CBSE, impacting over 30,000 schools.
(With inputs from agencies.)
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