Mobavenue AI Tech Ltd's unit has executed a Memorandum of Understanding (MOU) with Kuppam Area Development Authority in Andhra Pradesh. The pact supports AI-driven development initiatives in the CM Chandrababu Naidu constituency, aligning with ongoing industrial growth amid ₹1,617 Cr+ prior investments.
Mobavenue AI Tech Ltd (formerly Lucent Industries), a Mumbai-based AI-powered advertising platform, announced its unit's MOU with Kuppam Area Development Authority. Kuppam, in Chittoor district, emerges as an industrial hub under Andhra Pradesh's growth push, hosting recent MOUs worth ₹1,617 Cr with firms like Hindalco and Eroyce Motors for skills, EVs, and dairy. This tech-focused tie-up leverages Mobavenue's recent ₹100 Cr raise for AI expansion.
Strategic Fit
The MOU positions Mobavenue to deploy AI solutions in advertising, consumer growth, and possibly local digital infrastructure. It follows the firm's acquisition of Mobavenue Media and name change, enhancing its data intelligence stack. Kuppam's ecosystem—featuring aerospace, food processing—offers synergies for AI applications in emerging sectors.
Key Highlights
Parties: Mobavenue AI Tech unit & Kuppam Area Development Authority.
Focus: AI tech for development; details pending full disclosure.
Context: Builds on Kuppam’s ₹1,617 Cr MOUs (e.g., Hindalco skills center).
Mobavenue Momentum: Post-₹100 Cr raise for acquisitions, global scaling.
Sources: Economic Times, BizzBuzz, Entrepreneur India