Affle (India) Limited , a leading technology company, has achieved a significant milestone in its innovation journey. The company's subsidiary, Affle 3i, has been granted its 16th US patent for an advanced artificial intelligence (AI) based fraud detection system.

Continued Innovation in AI Technology

This latest patent underscores Affle 3i's commitment to pushing the boundaries of AI technology, particularly in the critical area of fraud prevention. The newly patented system leverages artificial intelligence to detect and prevent fraudulent activities, potentially offering enhanced security measures for businesses and consumers alike.

Strengthening Intellectual Property Portfolio

The acquisition of this 16th US patent represents a substantial addition to Affle's intellectual property portfolio. It demonstrates the company's ongoing efforts to develop cutting-edge technologies that address real-world challenges in the digital ecosystem.

Implications for Fraud Prevention

As digital transactions continue to grow globally, the need for robust fraud detection systems becomes increasingly crucial. Affle 3i's AI-based solution could potentially provide more accurate and efficient fraud detection capabilities, helping to safeguard digital platforms and their users from sophisticated fraudulent activities.

Company's Technological Leadership

This patent further solidifies Affle's position as a technological leader in the mobile advertising and software development space. By consistently innovating and patenting new technologies, the company is well-positioned to offer advanced solutions to its clients and partners.

The continued expansion of Affle's patent portfolio, particularly in AI and fraud detection, may enhance its competitive edge in the global technology market and potentially open up new opportunities for growth and partnerships in the future.

Affle 3i Limited (NSE: AFFLE) has reported robust financial results for the quarter ended September 30, 2023, along with plans for a significant preferential share issue. The company's performance and strategic moves highlight its growth trajectory in the digital advertising and technology sector.

Q2 Financial Highlights

Affle India demonstrated strong financial performance in the second quarter:

• Standalone profit reached ₹18.17 crore, up from ₹15.58 crore in the previous quarter.
• Standalone revenue from operations stood at ₹133.83 crore.
• On a consolidated basis, the company reported:
  • Profit of ₹66.78 crore
  • Revenue from operations of ₹431.30 crore

Strategic Acquisition

In a significant move to expand its global footprint, Affle India completed the acquisition of YouAppi Inc. in May 2023:

• Acquisition value: USD 45 million (approximately ₹372.00 crore)
• YouAppi Inc. has been consolidated into Affle's financials from May 1, 2023

Preferential Share Issue

The Board of Directors has approved a substantial preferential issue of equity shares:

• Number of shares to be issued: 6.9 million
• Maximum value of the issue: ₹749.02 crore
• Subject to shareholder approval at an extraordinary general meeting scheduled for November 17, 2023

This move is likely aimed at strengthening the company's capital base and supporting future growth initiatives.

Investment in Bobble

Affle India continues to maintain its investment in Bobble:

• Stake: 24.07%
• Valuation: ₹135.03 crore
• Status: Held for sale

The company's strategic investment in Bobble, a conversational media platform, aligns with its focus on innovative digital technologies.

Affle India's strong quarterly performance, coupled with its recent acquisition and plans for a preferential share issue, signals the company's ambitious growth strategy in the dynamic digital advertising landscape. The successful integration of YouAppi Inc. and the potential capital infusion from the share issue could further bolster Affle's market position and technological capabilities.