GACM Technologies to acquire 30% stake in AI edtech firm WeXL at Rs 500 crore valuation

The Telangana-based financial technology company said it aims to leverage WeXL's existing dataset and platform to strategically transition into building an advanced AI agent framework.

GACM Technologies has entered into a definitive agreement to acquire a 30 per cent equity stake in AI-edtech data company WEXL Edu Pvt Ltd (WeXL), an exchange filing stated on Wednesday.

”The projected valuation of the deal is estimated to be Rs 500 crore,” GACM Technologies said in the filing. The Telangana-based financial technology company said it aims to leverage WeXL’s existing dataset and platform to strategically transition into building an advanced AI agent framework.

The deal will help GACM Technologies diversify into the fast-expanding education and GovTech segment with government orders, long-term contracts, and high-margin solutions, it added. The target has a confirmed order book of over Rs 30 crore, including Rs 25 crore from the Delhi government and Rs 5 crore from the Tamil Nadu government.

It has a portfolio of five registered patents, including AI-based subjective answer correction, offline AI learning systems, and English proficiency assessments, the filing stated. ”WeXL is also in discussion with CBSE for over Rs 200 crore tender-based deployment across 30,000-plus schools,” the filing said. WEXL Edu is an education technology firm engaged in delivering AI-enabled academic solutions across India.