instakhabar | प्रकाशित मिति: २०८० माघ १०, बुधबार १४:५१Fusemachines, a groundbreaking AI company founded by Nepali entrepreneur Dr. Sameer Maskey, is gearing up to make history as it prepares for listing on the prestigious US Stock Exchange NASDAQ. This milestone comes following the recent signing of a definitive agreement for a business combination with CSLM Acquisition Corp, a special purpose acquisition company.
Established in 2013, Fusemachines, headquartered in New York, has expanded its operations globally, reaching across Asia, Canada, USA, and Latin America. As a leading provider of enterprise AI products and solutions, the company is dedicated to democratizing AI. Utilizing its proprietary AI Studio and AI Engines, Fusemachines plays a pivotal role in guiding clients through their AI Enterprise Transformation, regardless of their position in the digital AI journey.
With innovative offerings like AI Studio and AI Engines, coupled with a diverse global AI talent pool nurtured through flagship AI Fellowship programs, Fusemachines uniquely enables customers to develop industry-specific and problem-specific AI Solutions with impressive ROI. Recognized clients, including TIME and OTG, have entrusted Fusemachines for their AI needs for many years.
The merger agreement inked between Fusemachines and CSLM Acquisition Company paves the way for a Nasdaq listing. CSLM, already listed and trading on Nasdaq, will invest approximately US$20 million in Fusemachines for working capital purposes as part of this agreement. Dr. Maskey, the CEO and founder of Fusemachines, sees this investment as instrumental in the development of new products.
The total valuation of Fusemachines stands at $200 million (Rs 25 billion), according to Dr. Maskey. Both companies are committed to completing the merger agreement and achieving Nasdaq listing by the end of the second quarter of 2024.
Dr. Maskey expressed his excitement about the historical significance of being the first Nepali-origin company listed on Nasdaq, stating, “Our business combination with CSLM positions us to strategically lead the way in shaping the future of democratizing AI and leaving a lasting impact across industries. The additional capital and financial flexibility from this transaction will empower improved products and fuel growth and expansion.”
Charles Cassel, CEO and CFO of CSLM, shared his enthusiasm for the partnership with Fusemachines, emphasizing the company’s impact on Frontier and Emerging Markets. He stated, “With significant operations in Nepal, their cutting-edge development of AI engines and solutions for US and developed market enterprise clients is precisely the profile that we believe embodies the impact that investors can make and profit from in high growth opportunities.”
Dr. Maskey, born in Kathmandu and holding a position as an Associate Professor at Columbia University, has dedicated his career to artificial intelligence after completing higher education in the United States. The upcoming Nasdaq listing marks a significant achievement for both Fusemachines and the broader landscape of Nepali-origin companies.
