Fusemachines secures $1 million in FDI from Business OxygenFusemachines will deploy the funds to substantially grow its Nepal team, with the addition of at least 200 new engineers, the company says.
Fusemachines, a leading AI talent and education platform and service provider, on Wednesday announced $1 million in foreign direct investment (FDI) from Business Oxygen Private Limited (BO2), a Nepal-based private equity fund bringing foreign investments to help local companies grow.
Fusemachines will deploy the funds to substantially grow its Nepal team, with the addition of at least 200 new engineers, as well as to further advance AI education and upskilling initiatives in the country, the company said in a press statement.
“We appreciate how Fusemachines has made a tangible shift in Nepal’s AI education and employment landscape and are excited to support their vision of AI talent generation in Nepal,” said Siddhant Raj Pandey, chairman and CEO of BO2.
“Since we launched our AI Shikshya in Nepal initiative in 2018, we have continually strived to make an impact around AI reskilling and upskilling for both the technology and non-technology audiences in Nepal,” said Sameer Maskey, CEO of Fusemachines.
“With this recent round of funding, we hope to further bolster our ongoing efforts, while significantly adding new, credible talent to our employee base.”
In addition to engaging in strategic training partnerships with Nepal’s educational institutes, Fusemachines has rolled out different AI education initiatives in Nepal over the years, including AI2Go training workshops, Foundations in AI as well as Microdegree™ in AI courses, among others.
Founded in 2013, Fusemachines is an AI talent and education platform and service provider.