V. Raman Kumar Invests $1.5mn in Canadian Arti

Feb. 5, 2013 - PRLog -- Mumbai, February 5, 2013 -- V Raman Kumar, serial entrepreneur and private equity investor, now Chairman of Aeries Group has made an equity investment of $1.5 million in Vestec, the Canada-based leader in cutting-edge Artificial Intelligence (AI) technologies.

With this strategic investment, Kumar has joined the Vestec’s Board of Directors as Vice Chairman. He will also oversee the development of products and services at Vestec for the global industry. He plans to bring Vestec’s cutting edge technology tools into India and the Middle East.

Commenting on the development, Kumar said: “I am delighted to join the Board of Vestec. My immediate mandate is to set up partnerships in India and the Middle East to develop applications and products that will use Vestec’s cutting edge AI and natural language tools.”

Added Dr. Fakhri Karray, Vestec’s primary Founder and Chairman, “We are very happy that Raman Kumar will be contributing his considerable expertise and relationships to our team.”

About V. Raman Kumar:

V Raman Kumar is the Founder and former CEO of MModalInc – a company that he founded in 1998 and took from start up to become the world’s largest clinical documentation technology company. He sold MModal to One Equity Partners (JPMprgan’s private equity arm )  in August 2012 for over 1.1 billion dollar valuation. He has won many awards including Ernst & Young Entrepreneur of the Year award for 2007 in USA.

Raman Kumar is now a private equity investor, an angel and a serial entrepreneur. He has also set up his own investment company called AeriesGroup to manage his India basedinvestments. He made his first investment in India by picking up a 20% stake in security solutions provider Zicom and is a director on its board.

About Vestec:

Vestec (www.vestec.com) was founded by a distinguished group of Artificial Intelligence (AI) researchers from Canada’s famed University of Waterloo under the chairmanship of Dr. Fakhri Karray, a renowned expert in the field of computational intelligence. Dr. Karray is the University Research Chair Professor in the field of Intelligent Systems as well as the co-Director of the Center for Pattern Analysis and Machine Intelligence (PAMI).

Vestec solutions enable sophisticated speech-based user interfaces in all major languages across a wide variety of business processes. Unlike traditional speech recognition and semantic understanding technology, Vestec’s cutting-edge Artificial Intelligence-based approach significantly reduces time-to-market while increasing semantic accuracy.

Note to Editors:

Are you planning any stories around India’s BPO sector, especially in the healthcare segment, Artificial Intelligence, PE and angel investors from India, and what it takes to be an entrepreneur? V Raman Kumar would like to participate with unique insights and quotes. Please do get in touch with the undersigned for more information.

Contact:

Rajkamal Pandey

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