Aapai Technologies raises USD 20 mn funding from angel investor

The investment will come in two phases – USD 10 million by December 2021 and the other half by June 2022, the company said in a statement.

Founded in the year 2010, Aapai Technologies is engaged in software development, IT outsourcing, and IT consulting services. Aapai Technologies is actively helping global corporations to transform and address critical business issues by applying innovative information technology solutions.

''With this new funding, we will be acquiring a 10,00 square feet space in Navi Mumbai to further disrupt the technology world with our recruit AI and new era artificial intelligence products. We are also very fortunate and excited to include Ex-Mumbai CP as an Independent Director on our board from December 2022,'' Aapai Technologies chief executive officer Mayank Maitreya said.

The company is working on technologies like artificial intelligence, internet of things, BI, blockchain, cyber security, etc, and plans to come up with software solutions that reflect the future. Aapai also has plans to use the funding for hiring and expansion in the Indian sub-continent.

''We are also very fortunate and excited to include Ex-Mumbai CP, Satyapal Singh Yadav as an Independent Director on our board from December 2022,'' Maitreya said. The new funding is expected to increase the valuation of the company to USD 60 million.