National, 23rd August, 2024 – Bartronics India Limited is planning to make a strategic investment in Jarvis, an AI and Machine Learning-based investment advisory firm operating under the brand name ‘Ventugrow.’ Through this proposed investment, Bartronics aims to secure a 3% equity stake in Jarvis, along with an additional 2% in the form of Advisory Board Equity (sweat equity), resulting in a total 5% stake in the B2B segment. Furthermore, Bartronics plans to acquire a controlling 51% stake in a newly formed subsidiary, referred to as the “New Entity,” which will focus on the B2C segment.
This strategic initiative represents a significant milestone for Bartronics, poised to strengthen its presence in the rapidly growing AI-based financial technology industry. By integrating Jarvis’ AI and ML expertise, Bartronics anticipates enhancing its data analysis and decision-making processes, leading to more sophisticated and efficient service offerings.
“Beyond financial investment, this partnership also includes other strategic elements,” said Mr. N. Vidhya Sagar Reddy, Managing Director and spokesperson for Bartronics India Limited. “These include technology sharing, as Bartronics plans to gain access to Ventugrow’s ‘Jarvis’ brand and RIA license. Additionally, Bartronics intends to participate in the management, including appointing directors to both companies’ boards and playing a role in key business decisions. This partnership aligns with Bartronics’ objectives of diversification and technological advancement, paving the way for new product development and global expansion to extend the ‘Jarvis’ brand internationally.”
In the near future, Bartronics and Jarvis plan to focus on integrating AI technologies and establishing the new B2C entity. This collaboration is expected to enhance product development, drive innovation, and expand the global reach of Jarvis..
The potential acquisition is subject to the successful completion of due diligence and obtaining the necessary regulatory approvals. Bartronics India Ltd. will continue to update stakeholders on the progress of this exploration.
Speaking on the partnership, Mr. Rajesh Kumar, CEO & Founder of Jarvis, said, “Current users of ‘Jarvis’ will continue to benefit from the brand, with an improved app and enhanced customer service. This investment is a strategic step towards reinforcing Bartronics’ position as a leading provider of cutting-edge technology products.”