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Nano Dimension Reports 2021 Second Quarter Financial Results with CEO Letter to Shareholders

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SUNRISE, Fla., Aug. 18, 2021 (GLOBE NEWSWIRE) — Nano Dimension Ltd. (Nasdaq: NNDM), an industry leading Additively Manufactured Electronics (AME) and Printed Electronics (PE) manufacturing system provider, announced today financial results for the second quarter ended June 30, 2021. 

Nano Dimension reported revenues of $811,000 and $1,622,000 for the second quarter and first half of 2021, respectively, compared to revenues of $288,000 and $990,000 for the second quarter and first half of 2020, respectively. The Company ended the quarter with a cash and deposits balance of $1,396,939,000 while total operating loss for the second quarter was $19,859,000 (including approximately $10,000,000 of non-cash share-based compensation plus depreciation and amortization expenses).

“In April 2021, we purchased two entities, NanoFabrica and DeepCube. Hence, the second quarter of 2021 is the first quarter in which we consolidated the financial results of those two entities in our financial statements.” said Yael Sandler, Chief Financial Officer of Nano Dimension. “We are excited to integrate the activities of those cutting-edge groups into Nano Dimension and looking forward to demonstrating to the market additional results of our M&A efforts.” concluded Ms. Sandler.

CEO MESSAGE TO SHAREHOLDERS:

Mr. Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension, commented: “Admittedly, Nano Dimension is a different type of investment, in terms of the ability to understand its breakthroughs and progressions on a monthly and quarterly basis, especially under the understandable parameters governing public disclosures. As an example, even the fact that our revenue and gross margin (net of amortization of intangibles) for the first half of 2021 were up by 68% and 40% compared to similar periods in 2020, is not necessarily a comprehensive indication of the status of our business. The results, positive as they may be perceived, are still too small in absolute magnitude to derive any meaningful conclusions.

Our achievements and progressions in performance toward soon to be released new products, as well as advancement in material properties developments, are much more important, now, than the quarterly demonstrated revenue growth. Traders and short-term investors may be disappointed from expenses not going down, yet the right “financial” measure of our success at this point is a total contradiction to that perception: It is rather our ability to identify and hire the top scientific talents and the meaningful increases in R&D, material research and data science expense (actually, those are the most important business “investments” but defined as “expenses” as per accounting regulations). Therefore, the endeavors, if successful, will be manifested in the publicly disclosed financial statements by increased expenses, obviously to be spent smartly for increasing value, and hence a reduction of profits, and with no correlation with revenue whatsoever.

Nano Dimension is a startup business with unique, outstanding and unprecedent disruptive status, stemming out of three factors:

  1. Our unparalleled technology and its prospects for self-learning, self-correcting high yield 3D additive manufacturing machines: It is led by one-of-a-kind capability to make the leap toward Industry 4.0 by integrating DeepCube – our patented deep/machine learning (which is at the forefront of artificial intelligence science) engine. This “Robotic Brain” is in the process of being made to run a digital network of 3D-fabrication printers which will convert material inventory into digital-cloud-based-inventory, until printed as a final 3D product – where needed, when needed, and only then.

    In the same manner that paper is almost obsolete for repetitive daily printing since PDF files serve as digital-cloud-based-inventory, Nano Dimension’s printers for Additively Manufacturing Electronics (known to customers as DragonFly®) and Additively Manufacturing micro-mechanics (known to customers as Fabrica 2.0) are going to enable capital and labor intensive ecologically offensive industries to be converted to a digital network of “lights-out-manufacturing” facilities. They will fittingly be based in the Western Hemisphere, not only in Asia Pacific, and in doing so reduce the risk of failing supply chains and vulnerability resulting from trade wars and protectionist competition schemes, so painfully observed during 2020-2021.

  2. Our $1.397 billion of financial reserves, enable us to plan for at least 5-6 years with proper qualifiable, quantifiable and measurable milestones and gateways. Typically, early-stage growth companies are forced to focus on performing on a quarterly basis, while compromising proper long-term execution for much higher returns (albeit later in the game). This phenomenon is a result of their need to constantly raise money in order to proceed. It is exactly where Nano Dimension is so well positioned compared to its competition.

    Nano Dimension leadership can think, plan and efficiently execute long term business plans, for the benefit of our shareholders and customers. We do so by evading the trap of wasting expensive energy and especially time for reaching short term financial goals. We do not undermine the ability of our scientists, engineers, and business leaders to fulfil our stakeholders’ long term investment goal: Creating unparalleled added value which will drive financial value to an order of magnitude above the company and its competitors’ present valuation, even if it takes a bit longer than a few quarters.

  3. Our unique and dedicated teams of over 130 world-class scientists and engineers, up from 70 just 8 months ago, are all shareholders of Nano Dimension and make up the multidisciplinary team in the fields of deep learning, data science, material science, process and fabrication technologies, automation, machine building and advance electromechanically robotics, algorithms for machine firmware and process control as well as CAD/CAM design support and software for design for digital manufacturing. All of them are critical for the success of our business model, added value and Nano Dimension’s valuation goals.

Nano Dimension’s vision is to transform the electronics and adjacent AM 3D printing industries into an environmentally friendly and economically efficient additive manufacturing Industry 4.0 solution: Enabling one-manufacturing-step process for the conversion of digital designs into functioning electronic devices, on demand, anytime, anywhere.

We intend to do so by building an ecofriendly and intelligent distributed network of additively manufacturing self-learning and self-improving machines, which will deliver a superior ROI to their owners, to Nano Dimension shareholders and to other stakeholders.

In summary:
Within a reasonable amount of time, our three business development axes – synergetic M&A, accelerated R&D, and revolution in go-to-market efforts – are planned to converge and designed to fuel a mutually accelerated scalable growth. The companies we have acquired and those which are M&A-work-in-progress as we speak, are analyzed based on their ability to drive R&D efforts in ways not otherwise possible and amalgamate with the marketing channels of the products we develop and the market presence we need for success. 

Factors A-B-C above did not exist 8 months ago. Those are drivers of an evolution that has happened so fast, that one might as well call it a “corporate revolution”, and it is still going at an accelerated pace. We are in an incredibly strong financial position and have laid the foundation for substantial future growth and value creation.

As the metaphor I have used time and time again: Similar to biotech investments in their multi-annual early development stages, initially, we measure our success by achieving our development goals.  We have planned and are currently executing and hoping to surpass any present solutions for “robotic brains” in manufacturing, material technologies and 3D-printing performance. Those, in turn, are aimed to, and hopefully will, create a business-disruptive set of inflection points. While, as usual, there is no guaranty for the timing thereof, these inflection points will hopefully cause an increase of value by step functions and create exceptional time-weighted return on investment for all of us, the long-term investors,” Mr. Stern concluded.

Second Quarter 2021 Financial Results

Total revenues for the second quarter of 2021 were $811,000, compared to $811,000 in the first quarter of 2021, and $288,000 in the second quarter of 2020.

Research and development (R&D) expenses for the second quarter of 2021 were $9,129,000, compared to $3,732,000 in the first quarter of 2021, and $1,895,000 in the second quarter of 2020. The increase compared to both the first quarter of 2021 and the second quarter of 2020 is attributed to an increase in payroll and related expenses, as well as an increase in depreciation and share-based payment expenses, as the Company is enhancing its R&D and product development efforts.

Sales and marketing (S&M) expenses for the second quarter of 2021 were $6,009,000, compared to $2,713,000 in the first quarter of 2021, and $930,000 in the second quarter of 2020. The increase compared to both the first quarter of 2021 and the second quarter of 2020 is attributed to an increase in payroll and share-based payment expenses, as well as an increase in marketing and promotion expenses.

General and administrative (G&A) expenses for the second quarter of 2021 were $4,906,000, compared to $3,425,000 in the first quarter of 2021, and $908,000 in the second quarter of 2020. The increase compared to the first quarter of 2021 is attributed to an increase in professional services expenses as a result of the M&A efforts. The increase compared to the second quarter of 2020 is attributed to an increase in professional services expenses as explained above, as well as an increase in share-based payment expenses.

Net loss for the second quarter of 2021 was $13,602,000, or $0.05 per share, compared to $9,314,000, or $0.05 per share, in the first quarter of 2021, and $8,265,000, or $0.27 per share, in the second quarter of 2020.

Six Months Ended June 30, 2021 Financial Results

Total revenues for the six months ended June 30, 2021 were $1,622,000, compared to $990,000 in the six months ended June 30, 2020. The increase is attributed to more sales of DragonFly systems in the first half of 2021, as well as revenues of NanoFabrica, which the Company purchased and consolidated from April 2021.

R&D expenses for the six months ended June 30, 2021 were $12,861,000, compared to $3,597,000 in the six months ended June 30, 2020. The increase resulted primarily from an increase in payroll and related expenses, share-based payment expenses and depreciation expenses.

S&M expenses for the six months ended June 30, 2021 were $8,722,000, compared to $1,749,000 in the six months ended June 30, 2020. The increase is mainly attributed to an increase in payroll and related expenses, share-based payment expenses and marketing and advertising expenses.

G&A expenses for the six months ended June 30, 2021 were $8,331,000, compared to $1,943,000 in the six months ended June 30, 2020. The increase is mainly attributed to an increase in share-based payment expenses and professional services expenses.

Net loss for the six months ended June 30, 2021 was $22,916,000, or $0.10 per share, compared to $10,339,000, or $0.55 per share, in the six months ended June 30, 2020.

Balance Sheet Highlights

Cash and cash equivalents, together with bank deposits totaled $1,396,939,000 as of June 30, 2021, compared to $670,934,000 as of December 31, 2020. The increase compared to December 31, 2020, mainly reflects proceeds received from the sales of American Depositary Shares representing the Company’s ordinary shares in the first half of 2021, less cash used in operations during the six months ended June 30, 2021.

Shareholders’ equity totaled $1,502,716,000 as of June 30, 2021, compared to $667,116,000 as of December 31, 2020.

Conference call information

The Company will host a conference call to discuss these financial results today, August 18, 2021, at 9:00 a.m. EDT (4:00 p.m. IDT). U.S. Dial-in Number: 1-866-744-5399, Israel Dial-in Number: 972-3-9180692. Webcast link: https://Veidan.activetrail.biz/nanodimensionq2-2021. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.

About Nano Dimension

Nano Dimension (Nasdaq: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. The DragonFly LDM® system is being deployed in a wide range of industries, including academic and research institutions, defense, aerospace, autonomous automotive, robotics, and biotech. Its ability to enable on-site prototyping in a matter of hours instead of weeks; create products with better performance; reduce the size and weight of electronic parts and devices; enable innovation; and critically important, protect IP, is a paradigm shift in how industry and research institutions will research, develop, and produce High-Performance Electronic Devices (Hi-PEDs®.) Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. For more information, please visit www.nano-di.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses the integration of NanoFabrica and DeepCube, the expected and potential capabilities, benefits and risk reduction resulting from Nano Dimension’s technology, the sufficiency and expected duration of Nano Dimension’s financial reserves, Nano Dimension’s ability to deliver a superior ROI to owners of its products, to Nano Dimension shareholders and to other stakeholders, the potential for accelerated scalable growth and value creation and potential additional M&A activities. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 11, 2021, and in any subsequent filings with the SEC. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: Nano Dimension’s ability to increase sales and revenue, its burn rate, and its ability to continue as a going concern. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third party websites.

NANO DIMENSION INVESTOR RELATIONS CONTACT

Yael Sandler, CFO | [email protected]

Consolidated Statements of Financial Position as at

    June 30,     December 31,  
    2020     2021     2020  
(In thousands of USD)    (Unaudited)      (Unaudited)        
                   
Assets                  
Cash and cash equivalents     39,665       1,034,837       585,338  
Bank deposits     9,860       286,989       85,596  
Restricted deposits           167       62  
Trade receivables     541       852       713  
Other receivables     503       3,329       1,126  
Inventory     3,956       4,120       3,314  
Total current assets     54,525       1,330,294       676,149  
                         
Bank deposits     376       75,113        
Restricted deposits           478       406  
Property plant and equipment, net     4,391       6,823       5,092  
Right of use asset     2,258       5,225       3,169  
Intangible assets     4,826       118,218       4,440  
Total non-current assets     11,851       205,857       13,107  
Total assets     66,376       1,536,151       689,256  
                         
Liabilities                        
Trade payables     669       1,502       776  
Financial derivatives           6,268        
Other payables     3,678       7,000       5,910  
Total current liabilities     4,347       14,770       6,686  
                         
Liability in respect of government grants     892       1,839       850  
Lease liability     1,699       3,914       2,618  
Deferred tax liabilities           3,627        
Liability in respect of warrants and rights of purchase     1,834       9,285       11,986  
Total non-current liabilities     4,425       18,665       15,454  
Total liabilities     8,772       33,435       22,140  
                         
Equity                        
Share capital     66,236       386,003       257,225  
Share premium and capital reserves     61,748       1,248,164       518,426  
Treasury shares     (1,509 )     (1,509 )     (1,509 )
Presentation currency translation reserve     1,431       1,431       1,431  
Accumulated loss     (70,302 )     (131,373 )     (108,457
Total equity     57,604       1,502,716       667,116  
Total liabilities and equity     66,376       1,536,151       689,256  

Consolidated Statements of Profit or Loss and Other Comprehensive Income
(In thousands of USD, except per share amounts)

  For the Six-Month Period Ended
June 30, 
  For the Three-Month Period Ended
June 30,
    For the Year ended December 31,  
  2020   2021   2020     2021     2020  
  (Unaudited)   (Unaudited)    (Unaudited)      (Unaudited)        
                         
Revenues 990   1,622   288     811     3,399  
                         
Cost of revenues 589   684   174     332     1,563  
                         
Cost of revenues – amortization of intangible 386   491   193     294     771  
                         
Total cost of revenues 975   1,175   367     626     2,334  
                         
Gross profit (loss) 15   447   (79)     185     1,065  
                         
Research and development expenses, net 3,597   12,861   1,895     9,129     9,878  
                         
Sales and marketing expenses 1,749   8,722   930     6,009     6,597  
                         
General and administrative expenses 1,943   8,331   908     4,906     20,287  
                         
Operating loss (7,274)   (29,467)   (3,812)     (19,859)     (35,697)  
                         
Finance income 130   7,029       6,211     446  
                         
Finance expense 3,195   628   4,453     104     13,243  
                         
Total comprehensive loss (10,339)   (23,066)   (8,265)     (13,752)     (48,494)  
Tax income   150       150      
Total comprehensive loss after tax (10,339)   (22,916)   (8,265)     (13,602)     (48,494)  
Basic loss per share (after 1:50 reverse split effective June 29, 2020) (0.55)   (0.10)   (0.27)     (0.05)     (1.13)  

Consolidated Statements of Changes in Equity (Unaudited)
(In thousands of USD)

    Share
capital
  Share
premium
and capital
reserves
  Treasury
shares
  Presentation
currency
translation
reserve
    Accumulated
loss
  Total
equity
 
                             
For the six months ended June 30, 2021:                            
Balance as of January 1, 2021   257,225   518,426   (1,509)   1,431     (108,457)   667,116  
Issuance of ordinary shares, net   123,222   711,844           835,066  
Exercise of warrants and options   5,556   (2,575)           2,981  
Share-based payments     20,469           20,469  
Net loss             (22,916)   (22,916)  
                             
Balance as of June 30, 2021   386,003   1,248,164   (1,509)   1,431     (131,373)   1,502,716  
                             
For the three months ended June 30, 2021:                            
Balance as of April 1, 2021   375,594   1,211,920   (1,509)   1,431     (117,771)   1,469,665  
Issuance of ordinary shares, net   9,198   29,522           38,720  
Exercise of warrants and options   1,211   (1,160)           51  
Share-based payments     7,882           7,882  
Net loss             (13,602)   (13,602)  
                             
Balance as of June 30, 2021   386,003   1,248,164   (1,509)   1,431     (131,373)   1,502,716  

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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