HYDERABAD: Global Blockchain company Zebi on Wednesday announced the acquisition of Bengaluru-based start-up Element42 for an undisclosed sum.
Founded in 2015 by IIT alumni, Zebi has made the acquisition to bolster the strength of its in-house Blockchain engineering talent while adding new products and customers, the company said in a statement.
“With the combined resources, we are looking forward to developing and launching many more innovative products targeting telecommunications, BFSI and logistics industries in the coming months,” said Sudheer Kuppam, Co-founder and CEO, Zebi.
Element42 was founded by Pruthvi Rao, an IIT Kharagpur alumnus, to provide customers anti-fraud and transparency solutions.
“Zebi’s core technology will not only allow us to strengthen our existing offerings, but also help develop new products,” added Rao.
The expanded business will serve over 35 enterprises and government organisations across India.
Within a year of its operations, Zebi Asset Chain has been implemented in Amaravati to Blockchain the land registry and Zebi’s AI Chain product has been adopted by police departments in three districts in Andhra Pradesh.