New Delhi, February 11 UAE-based Trueledger Technologies FZE has expressed interest in making strategic investments, potentially up to 20 per cent of the stake, in Silverline Technologies, according to a regulatory filing on Wednesday.
Silverline stated that the proposed investment is intended to provide strategic exposure to the company's initiatives driven by artificial intelligence.
"Silverline Technologies Limited has received a non-binding Letter of Intent (LoI) from Trueledger Technologies FZE, a UAE-based technology research and holding company.
"The LoI indicates Trueledger Technologies FZE's preliminary interest in exploring a potential strategic investment of up to 20 per cent stake in the company," Silverline said in the filing.
The company stated that the deal is subject to applicable laws, regulatory requirements, internal approvals, and the execution of definitive agreements.
Silverline unveiled its proprietary AI-enabled web platform, branded as 'Silver AI', last week.
The company made the beta version of "Silver AI" available to users starting February 7, and the commercial launch of the platform is planned before February 25.
Silverline positions Silver AI as a web-based intelligent chat and productivity platform.
According to the company, the platform is designed to provide an intuitive, conversational interface that supports productivity, information processing, and workflow assistance for individual and organizational users.
Within two days of the Silver AI launch, Silverline claimed to have crossed 24,000 registered users.
The company, in a separate filing, announced that it plans to reduce the Pro subscription fee to USD 9 per user per month, with the objective of driving mass adoption and higher conversion rates, subject to the platform reaching approximately 500,000 registered users within the next 45 days.
"At this pricing level, the company has the potential to achieve monthly revenue of USD 54 million, translating into an indicative annual revenue potential of Rs 430-450 crore for the company, assuming full Pro adoption," said Yakin Joshi, Managing Director, Silverline Technologies Ltd.
