Avance Technologies Limited, a BSE-listed technology solutions provider, has entered into a non-binding term sheet to acquire up to a 100% equity stake in Pushpak AI, a Hyderabad-based computer vision and edge AI platform. The development comes at a time when the global artificial intelligence market is witnessing rapid expansion and is projected to reach USD 2.4 trillion by 2032.

The proposed acquisition would mark Avance Technologies’ entry into the fast-growing visual intelligence and edge AI ecosystem, which is seeing rising adoption across sectors such as manufacturing, infrastructure, smart cities, retail, logistics, and industrial automation.

Computer vision and edge-based AI analytics are increasingly becoming key enablers of operational efficiency, safety compliance, and real-time decision-making. In India, AI adoption is expected to contribute nearly USD 500 billion to GDP by 2035, with computer vision playing a crucial role in areas such as surveillance, productivity monitoring, intelligent traffic systems, and industrial automation.

If completed, the acquisition would enable Avance Technologies to gain full strategic and operational control, facilitating deeper integration of Pushpak AI’s intellectual property, technology platforms, and enterprise relationships to enhance long-term shareholder value.

Pushpak AI has established a strong and diverse enterprise client base across automotive, infrastructure, manufacturing, smart cities, logistics, and financial services. Its solutions are currently deployed by marquee clients including Maruti Suzuki, TVS Motor Company, Hero, Larsen & Toubro, Adani Group, CMS Info Systems, IndiCold, Envoys, Everest Fleet, and Smart City Bhubaneswar.

The platform also serves institutions and enterprises such as GMDA, Spice Money, RapiPay, DigiNexus, Vardhman Group, Shanthi Feeds, OnlyGood, along with government and defence-linked institutions, including the Military College of Electronics and Mechanical Engineering (MCEME), underscoring its scalability and readiness for large-scale, mission-critical deployments.