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Aetlo Tech, a-year-old Indian blockchain startup has been acquired by Page Solutions, a global banking and financial firm based out of UK, reported VCCircle.

Founded last year by IIT Bombay alumnus Adarsh Kumar and MNIT alumnus Rupesh Mishra, Aetlo is Mumbai-based startup, which is essentially a Blockchain-as-a-Service organization, that deliver business outcomes through blockchain-enabled solutions in the areas that matter most, from operational excellence & asset optimization to customer experience & product innovation, to finance transformation & risk mitigation.

As part of this acquisition, Aetlo’s co-founders Rupesh Mishra and Adarsh Kumar and three others will move to Page’s office in Madhapur, a suburb of Hyderabad. This new team now be called Page Chain Technologies Pvt Ltd., which would be the Blockchain subsidiary company of Page Solutions.

Aetlo Tech has developed a machine learning based health insurance claim management system on top of distributed ledger technology, where hospitals, patients, insurance companies, TPAs and other stakeholders can share their data securely. Other than this Aetlo Tech had also developed a Blockchain based Trade Finance and Robust KYC framework. Team Aetlo, now Page Chain, will continue to improve their existing products as well will be working on different banking and financial sector use cases of blockchain along with Page Solutions.

“This acquisition further strengthens Page’s position in providing the first and last blockchain solution a customer will ever need from start-up to global enterprise, while integrating seamlessly with its other enterprise applications,” said Sridhar Dasari, operations chief at Page Solutions.

Rupesh Mishra sees a great a future working together with Page Solutions and says: “Team Aetlo will leverage the global banking and financial sector domain expertise and presence of Page Solutions to develop Blockchain based financial use cases across the globe.”

Aetlo Tech, a-year-old Indian blockchain startup has been acquired by Page Solutions, a global banking and financial firm based out of UK.

Founded last year by IIT Bombay alumnus Adarsh Kumar and MNIT alumnus Rupesh Mishra, Aelto is Mumbai-based startup, which is essentially a Blockchain-as-a-Service organization, that deliver business outcomes through blockchain-enabled solutions in the areas that matter most, from operational excellence & asset optimization to customer experience & product innovation, to finance transformation & risk mitigation.

As part of this acquisition, co-founders Rupesh Mishra and Adarsh Kumar and three others will move to Page’s office in Madhapur, a suburb of Hyderabad. This new team now be called Page Chain Technologies Pvt Ltd., which would be the Blockchain subsidiary company of Page Solutions.

Aetlo Tech has developed a machine learning based health insurance claim management system on top of distributed ledger technology, where hospitals, patients, insurance companies, TPAs and other stakeholders can share their data securely. Other than this Aetlo Tech had also developed a Blockchain based Trade Finance and Robust KYC framework. Team Aetlo, now Page Chain, will continue to improve their existing products as well will be working on different banking and financial sector use cases of blockchain along with Page Solutions.

“This acquisition further strengthens Page’s position in providing the first and last blockchain solution a customer will ever need from start-up to global enterprise, while integrating seamlessly with its other enterprise applications,” said Sridhar Dasari, operations chief at Page Solutions.

Rupesh Mishra sees a great a future working together with Page Solutions and says: “Team Aetlo will leverage the global banking and financial sector domain expertise and presence of Page Solutions to develop Blockchain based financial use cases across the globe.”

Speaking about Blockchain in supply chain, India’s auto major Mahindra tied-up with IBM to develop blockchain based apps, in February 2017. While, Bajaj Electricals, one of India’s oldest consumer electrical firm, started using blockchain tech for paying its suppliers.

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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