Infibeam Avenues jumps on securing order for AI products

The company said that the Phronetic.AI, the Artificial Intelligence arm of India's leading publicly listed fintech company, Infibeam Avenues secures two major contracts that will bring its cutting-edge Theia Vision AI technology to leading regional hospitals and an international gas station chain.

The Theia Vision AI contracts represent a significant milestone in Phronetic.AI's growth strategy. The company continues to expand its portfolio of AI solutions, with Vision AI playing a critical role in sectors where precision, safety, and efficiency are paramount.

The total value is expected to be $1 million per annum. The total tenure for each contract with five hospitals in India and the UAE-based gas station chain is five years with optionality to extend further.

The company's contracts with the five leading hospitals for its Phronetic.AI's Theia Vision AI technology product 'AI Facility Manager', will be integrated across multiple facilities within the hospital. This aims to revolutionize patient care, streamline operations, and enhance safety protocols through advanced visual data analysis.

The proprietary Theia Vision AI technology will enable hospitals to improve diagnostics, monitor patient conditions in real-time, and optimize resource allocation, setting a new standard for healthcare innovation.

Simultaneously, Phronetic.AI has also secured a global contract with a UAE-headquartered gas station chain, a leading name in the energy sector. The deployment of Vision AI product ' 'AI Facility Manager' across the chain's gas stations will focus on enhancing security, improving customer service, and optimizing operational workflows.

The 'AI Facility Manager' also has added a feature for 'Women Safety', where with a hand gesture towards CCTVs, a woman can send a SOS signal, which gets immediately captured by Phronetic.AI's proprietary Theia Vision AI technology, ensuring greater safety for women in public and workplace environments, while also driving operational efficiencies for corporates and organisations.

Infibeam Avenues is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks.

The company's consolidated net profit surged 59.49% to Rs 50.4 crore in Q1 FY25 as compared with Rs 31.6 crore in Q1 FY24. In the quarter ending 30 June 2024, the company reported a 1.40% YoY increase in gross revenue to Rs 752.8 crore. Additionally, net revenue jumped by 19.93% to Rs 118.5 crore in June 2024 quarter as compared to Rs 98.8 crore recorded in the corresponding quarter of the previous year.