L&T Infotech acquires Bengaluru-based deep tech startup Lymbyc
Bengaluru-based deep tech startup Lymbyc has been acquired by Larsen & Toubro Infotech (LTI) for an undisclosed amount. This buyout signifies the rising interest among the large technology companies in having deeper engagement with the startup ecosystem.
According to a release issued by L&T Infotech, this acquisition will strengthen its digital and analytics offerings.
Founded in 2012 by Satyakam Mohanty, Lymbyc is a specialist aIrtificial intelligence, machine learning, and advanced analytics company. Headquartered in Bengaluru, it has customers in the USA, UK, Africa and India.
LTI and Lymbyc have been strategic partners for last one year, and have collaborated to deliver solutions to several leading global enterprises.
Lymbyc’s flagship proprietary product Leni is a virtual analyst, which allows users to conversationally access information and insights. According to L&T Infotech, this startup provides predictive business insights, leveraging deep learning, Natural Language Processing, and data visualisation.
According to LTI, Lymbyc’s expertise will enhance its Mosaic platform to provide differentiated analytics solutions in a SaaS model. The IT company sees larger opportunity as there is growing dependence on data and global enterprises need to be better at data discovery, agile analytics, and ability to process large datasets.
Sanjay Jalona, Chief Executive Officer & Managing Director, LTI, said: “We believe self-service capabilities for AI and advanced analytics will be the next wave of disruption in the marketplace, and Lymbyc brings this capability to our Mosaic platform. Leni by Lymbyc is an industry-agnostic platform that solves business user’s need for experience, speed, and comprehension. I welcome Lymbyc’s experienced management team and all its employees to the LTI family.”
Satyakam Mohanty, Founder & CEO, Lymbyc said: “As a strategic business partner of LTI during last year, we have seen first hand how LTI is leading data and digital transformation agenda for its clients. With AI becoming increasingly mainstream, we are excited to join hands with LTI and to help a larger and richer set of clients. Leni, our AI-based Virtual Analyst, is perfectly suited to deliver better value to business users and maximize their information and analytics investments.”
(Edited by Megha Reddy)