Ceinsys Tech to form JV with AI Fabrik, invests ₹25 Cr

Ceinsys Tech Ltd announced the formation of a Joint Venture (JV) Company with AI Fabrik, Inc, USA, to explore opportunities in sovereign AI infrastructure and services in India. The JV aims to secure AI NEO cloud for government, citizen services, companies, cybersecurity, and defense. Ceinsys Tech will make an initial investment of up to ₹25.00 Crores in a phased manner, funded by proceeds from a preferential issue. The company also appointed CA Richa Jain as Deputy Chief Financial Officer (Dy. CFO). The JV company, tentatively named 'Aastra AI India Private Limited', will be incorporated in India with a 50:50 shareholding between Ceinsys Tech and AI Fabrik.