Frisco-Based AI & Data Startup Arhasi Gets Strategic Investment, Launches Foundry With Cloudbench

Arhasi and Cloudbench, a Google partner and leading emerging technology consulting firm, have launched a joint AI and data foundry in Frisco, staffed with experts from top universities. The foundry aims to drive innovation in AI and Web3 technologies.

Frisco-based AI solution engineering firm Arhasi Inc. has received a strategic investment from Alpha Transform Holdings (ATH), which also invested in Florida-based Cloudbench LLC.

In conjunction with the investments, Enzo Villani, CEO of ATH and managing partner of Alpha Sigma Capital, has joined the boards of advisers of both Arhasi and Cloudbench. ATH is a fintech, AI, media, and digital asset investment and advisory organization whose principals reportedly have an extensive track record of founding and building market systems.

Having partnered together since they were founded in 2023, Arhasi and Tampa-based Cloudbench, a Google partner and leading emerging technology consulting firm, are led by industry veterans of companies including Deloitte, PwC, Microsoft, AWS, IBM, and Google.

Arhasi recently participated in a Gen AI event at Google’s Sunnyvale campus. On LinkedIn, the company highlighted that “enabling enterprise use cases” with Vertex AI and Gemini, along with “best practices around tuning the levers” to maximize the technology, was a main feature of the event. Through its Foundry, the Arhasi team aims to shape AI solutions for its clients. [Photo: Arhasi]

Instilling ‘enterprise AI integrity’

Arhasi Chief AI Officer Chiru Bhavansikar said that users trust powerful, dependable AI agents in a variety of industries.

“We’ve noticed that the integration of AI agents is spreading across sectors like securities, banking, finance, and insurance, transforming various operational aspects,” Bhavansikar said in a statement. “We see that AI is employed for customer interaction, investment protocols, and operational tasks across various industries.”

“However, users are concerned about the lack of explainability,” he added, “which could hinder the evaluation of the system’s conceptual coherence. Nonetheless, we believe AI has the potential to streamline financial processes on Web3 platforms by effectively leveraging the synergies between these two technologies.”

Through partnering with Cloudbench and using “innovative platforms and technologies, we are poised to instill enterprise AI integrity,” Bhavansikar said.

Together, the companies are paving the way for an AI and decentralized-driven future through four areas of expertise: AI/ML engineering, data services, cloud engineering, and Web3 development, ATH said.

Joint ‘AI and data foundry’ in Frisco

Arhasi and Cloudbench have created a joint AI and data foundry in Frisco “staffed with machine learning engineers, data scientists, data architects, and dApp developers from top universities such as Cornell University, Duke University, University of California, and University of Texas,” ATH said.

ATH CEO Enzo Villani emphasized the company’s strategic emphasis on AI and Web3 technologies, targeting the over $1 trillion market potential in AI services.

“Our goal has been to create a comprehensive, world-class AI and Web3 development capability for our portfolio clients and industry partners,” Villani said in a statement. He outlined the company’s diverse range of services, including AI strategy and implementation planning, algorithm design, and AI model and dApp development.

Villani also highlighted the close collaboration between Cloudbench and Arhasi, saying that they will “act as a vital bridge between AI and Web3 development expertise and the evolving requirements of our clients,” to ensure a seamless transition towards AI and Web3 adoption and product development.

A report from MarketsAndMarkets said that the global AI market size was valued at $150.2 billion in 2023 and is expected to grow at a CAGR of 36.8% from 2023 to 2030, ATH noted. The revenue forecast for 2030 is projected to reach $1,345.2 billion.

“The future of the AI and Web3 services market looks promising. AI stands ready to revolutionize every industry and customer segment, becoming an essential asset for businesses globally,” Tom Richer, founder of Cloudbench, said in a statement.

The Cloudbench founder pointed to ongoing innovation from industry leaders like Google, predicting rapid market growth fueled by rising demand and government support. Richer emphasized that with the backing of ATH and strategic partner Arhasi, Cloudbench is “strongly positioned to accelerate the adoption of AI in the midmarket,” aiming to be a leading consultancy at the forefront of artificial intelligence and Web3

Expertise in AI consulting and engineering

Arhasi’s Bhavansikar is a tech leader with over two decades of experience in conceptualizing, strategizing, and innovating Cloud, Data, and AI solutions. ATH said he pioneered Australia’s inaugural cloud-computing platform, spearheaded Deloitte’s AI Financial Forecasting platform, and played a key role in shaping the Cloudera Director platform.

During his tenure at Deloitte and PwC, Bhavansikar led the establishment of AI engineering capabilities. He also provided strategic consultation to Google, contributing to the enhancement of their Data Governance services.

Cloudbench’s Richer is a tech industry veteran and entrepreneur with more than 30 years of experience focused on delivering AI and cloud technology consulting services for enterprise businesses. He has held founder, CEO, board adviser, and executive-level roles at multiple startups and large technology services companies such as Deloitte, Capgemini, Cognizant and tech giants IBM, Microsoft, and HP.

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