Dutch AI firm to invest Rs 250 cr in Kerala's Technopark

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SME Times News Bureau | 24 Sep, 2018
Dutch firm Flytxt, which specialises in Artificial Intelligence (AI), data analytics and marketing automation, has announced expanding its R&D facility at the Technopark campus here by further investing Rs 250 crore.

Speaking to IANS, Flytxt Group CEO Vinod Vasudevan said that even though they are headquartered in Amsterdam, the nerve centre of the company is its Technopark campus.

"The entire R&D (Research and Development) activity takes place here... We are going to increase our staff strength from 300 to 500 shortly and it will touch 1,000 in the next five years," said Vasudevan, a PhD from IIT.

Flytxt was formed in 2008 after a group of European investors wanted to invest their money in some business and Vasudevan was roped in from Mumbai.

Their client list of Flytxt includes telecom operators such as Vodafone, Airtel, MTN Group, Viettel, America Movil, Zain.

"Today our software solutions are mostly from the telecom sector as 70 companies worldwide use our products. The fresh investments is being done to enter retail banking,airlines, hospitality industry and digital wallet segments, which too have a huge customer data," said Vasudevan.

Apart from engaging in their own work, Flytxt conducts regular workshops in AI, machine learning and data analytics across campuses in Kerala and outside.

"Kerala did miss the first bus when it delayed its entry into the IT industry due to opposition towards computers. Now here is the chance to see that they do not miss the bus in the automation segment. The need of the hour is to see that engineering curriculum should undergo an overhaul to meet the future demands," added Vasudevan, who operates from Flytxt's Dubai office.