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Infibeam Avenues appoints former CEO Meesho as CEO of Phronetic.AI

News update

Fintech startup Infibeam Avenues has appointed Rajesh Kumar SA, former managing director of Meesho, as the new chief executive officer (CEO) of its artificial intelligence (AI) business, Phronetic.AI. Kumar will report to Infibeam Avenues Chairman and Managing Director Vishal Mehta. In his new role, he will lead the expansion of the new artificial intelligence business Infibeam Avenues.

«I am excited to join Vishal Mehta and the Infibeam AI initiative and look forward to working with exceptionally smart, talented and innovative colleagues at Infibeam,» said Rajesh Kumar SA, newly appointed CEO.

Commenting on the development, Mehta added, “Rajesh brings over a decade of expertise in AI and ML, demonstrating his expertise in developing successful products and solutions for enterprises. At Infibeam, I look forward to Rajesh’s effective leadership, which I believe will propel Phronetic.AI to new heights of innovation and success.”

With over 16 years of experience, Kumar previously served as Director of Machine Learning at e-commerce platform Meesho. He is a graduate of Bangalore University’s Visvesvaraya College of Engineering and previously worked at InMobi and Yahoo. Kumar also co-founded deeptech startup Streamoid and Amplyfy Labs, according to his LinkedIn profile.

This development is in line with Infibeam Avenues ambitions in the field of artificial intelligence. In August last year, Infibeam announced its AI Hub and plans to launch several products in the AI ​​domain, with Phronetic.AI being a part of this initiative. The AI ​​venture aims to target the fintech, financial, retail and enterprise sectors and develop AI solutions for fraud detection, authentication and risk identification (FAR).

Infibeam Avenues recently signed an INR 2,000 crore MoU with the Government of Gujarat for its AI-Hub. The company’s expansion plans are driven by India’s growing fintech space, which is projected to reach a $2.1 trillion market opportunity by 2030. According to Inc42 data, the domestic fintech sector has secured over $28 billion in funding between 2014 and 2023.

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