Infibeam Avenues, the fintech startup, has announced the appointment of Rajesh Kumar SA as the Chief Executive Officer (CEO) of its artificial intelligence (AI) business, Phronetic.AI. Rajesh, an industry veteran with over a decade of experience in AI and machine learning, will report directly to Vishal Mehta, Chairman, and Managing Director of Infibeam Avenues.
Expressing his enthusiasm, Rajesh Kumar SA stated, “I am thrilled to join Vishal Mehta and Infibeam’s AI initiative and look forward to collaborating with the exceptionally intelligent, talented, and innovative colleagues at Infibeam.”
Vishal Mehta, in response to the development, said, “Rajesh brings over a decade of expertise in the AI and ML domain, demonstrating his proficiency 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.”
Rajesh Kumar SA, an alumnus of Bengaluru’s University of Visvesvaraya College of Engineering, previously served as the Director of Machine Learning at Meesho, a prominent e-commerce platform. His extensive experience also includes roles at InMobi and Yahoo. Notably, he has a history of co-founding deeptech startup Streamoid and Amplyfy Labs.
The strategic appointment aligns with Infibeam Avenues’ recent push into the AI domain. In August of the previous year, the company introduced its AI Hub and outlined plans for launching several AI-led products. Phronetic.AI, a key component of this initiative, will concentrate on sectors such as fintech, financial services, retail, and enterprise. The AI venture aims to develop solutions in fraud detection, authentication, and risk identification (FAR).
Infibeam Avenues has been actively pursuing its AI ambitions, as evidenced by a memorandum of understanding (MoU) valued at INR 2,000 Cr signed with the Gujarat government for its AI Hub.
At the core of Infibeam’s expansion strategy lies the thriving Indian fintech landscape, projected to reach a $2.1 trillion market opportunity by 2030. With the Indian fintech sector securing over $28 billion in funding between 2014 and 2023, Infibeam aims to leverage Rajesh Kumar SA’s leadership to capitalize on the evolving fintech space.
