Fusemachines Inc., a leading provider of enterprise AI products and solutions, announced a definitive agreement to combine with CSLM Acquisition Corp., paving the way for the company’s public listing on NASDAQ under the ticker symbol “FUSE.” This landmark deal, valued at $200 million, is expected to close by the end of Q2 2024, propelling Fusemachines into the next stage of its transformative journey.
A decade of AI expertise, now publicly recognized
Founded in 2013 by Dr. Sameer Maskey, a Nepal-born entrepreneur, a thought leader and researcher in the AI field, Fusemachines has spent over a decade empowering businesses with cutting-edge AI solutions. Leveraging their proprietary AI Studio and AI Engines, along with a global talent pool fostered through their AI Fellowship programs, Fusemachines tackles complex challenges across diverse industries.
This strategic merger marks a critical step in their mission to democratise AI, as Dr. Maskey, CEO and Founder, explains, “This financing significantly bolsters our European expansion, allowing us to empower businesses across the continent with innovative AI solutions and unlock further growth potential.”
Fueling innovation and global expansion
The merger unlocks crucial capital and financial flexibility for Fusemachines, empowering them to accelerate their global reach and development of cutting-edge AI solutions. This newfound resources will fuel their mission to provide even more comprehensive and impactful Enterprise AI Products and Solutions.
A strategic partnership
CSLM, the special purpose acquisition company facilitating the merger, expresses their enthusiasm for the collaboration. Charles Cassel, CEO and CFO of CSLM, highlights the synergy between the two entities saying that Fusemachines’ expertise in developing cutting-edge AI engines and solutions aligns perfectly with their own strategy to invest in high-potential companies tackling significant challenges in frontier and emerging markets.
Committed to the future
CSLM affiliates have committed up to $19.44 million in PIPE and pre-closing financing, demonstrating their confidence in Fusemachines’ vision. With unanimous board approval from both companies, the merger is poised for a smooth completion, opening a new chapter for Fusemachines in the public domain.
Democratising AI, one enterprise at a time
As Fusemachines prepares to enter the public spotlight, their unwavering commitment to innovation and growth remains resolute. This merger signifies a crucial step towards their ultimate goal: making powerful AI solutions accessible and impactful for businesses around the world. With a rich legacy and a future filled with strategic advancements, Fusemachines is poised to continue shaping the landscape of enterprise AI for years to come.
