Government advisory firm Sapio Analytics, headquartered in Mumbai, has taken controlling minority stakes in a public company, with an aim to expand its depth of reach to citizens of India. The acquisition is in form of a conditional agreement with payment in tranches, according to the statement released by the company, keeping the name of the said company undisclosed.
“We expect to directly and deeply impact lives of 15 million citizens and their dependents, through various inter-connected products of Sapio Analytics, post this transaction. We hope to become the largest owner of citizen data, in a uniquely analyzed and visualized format, in India. We are helping shape government policies driven by artificial intelligence resulting out of the said data,” said Hardik Somani, Co-founder and COO of Sapio Analytics.
“Through our various divisions including economic growth, law enforcement, intelligence, healthcare, local administration, heritage and culture, we use new age technologies that are able to inter-connect various departments and provide intelligence that can drive socio-economic growth of the nations. Due to our immense trust with the citizens, becoming their voice through our A.I., we expect to be valued at 1 billion USD by the end of next year. Currently in talks to raise 15 million USD in tranches, Sapio Analytics has also invited investors and distinguished citizens at all levels to participate in the raise, with this transaction being a part of the journey,” added Somani.
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