C V Subramanyam, Founder, Covasant
Covasant Technologies Private Limited, an Agentic AI solutions company based in Hyderabad, has announced its merger with two US-based companies – konaAI and DCube Data Sciences Corporation.
The combined entity will be called Covasant Tech, while the other two companies will serve as its arms. It, however, refused to disclose the revenues of the three companies and the financial details of the agreement.
Agentic AI market set for $1.7 billion boom
The troika is looking at a growing demand for Agentic AI solutions. “This merger arrives at a pivotal moment for the global tech landscape. The Agentic AI market in India is poised for explosive growth, projected by Grand View Research to soar to $1.7 billion by 2030 at a CAGR of 53.9%,” a company official said.
“By integrating konaAI’s AI-led compliance expertise and DCube’s cybersecurity and eDiscovery strengths, Covasant will expand its services portfolio, providing AI-led enterprise governance solutions to its global clients,” C V Subramanyam, a serial entrepreneur and Founder of Covasant, has said in a statement.
Before founding Covasant, Subramanyam built Cigniti Technologies from the ground up, transforming it into a global powerhouse in digital assurance with over $250 million in revenue, a $500 million market capitalisation, and a 5,000-strong workforce.
Covasant’s AI-led Services-as-Software delivery model integrates proprietary Agentic AI systems, predictive analytics, intelligent automation, and data orchestration to help organisations unlock value from data and make real-time decisions.
“We will leverage the combined strengths to offer clients a suite of solutions for end-to-end Agentic AI adoption, significantly lowering their risk and improving business performance,” Subramanyam, who will be the Chairman and Managing Director of the merged entity, said.
Published on July 8, 2025
