TORONTO--(BUSINESS WIRE)--DeepSpatial Inc. (CSE:DSAI) (“DeepSpatial” or the “Company”) is pleased to announce that it has signed a revenue generating contract with DFM Foods, India, for a strategic geodemographic customer profiling and market expansion project.
DFM Foods is a leading player in the snack foods market in India, and its flagship product – CRAX rings – is a household name in the second most populous nation in the world. With product differentiation, aggressive marketing, and a focus on high quality, the company has grown its earnings at an aggressive 20% year over year rate and is currently listed on the Bombay Stock Exchange with a $250 million+ market capitalization. To continue its longstanding journey of growth, the company has partnered with DeepSpatial to leverage the power of geospatial intelligence in customer profiling and market expansion.
DFM operates in a competitive industry facing fierce competition on pricing, product choice, and distribution in India. DeepSpatial will be stepping in to assist the firm in generating the following three categories of insight:
Currently, DeepSpatial has engaged in a program that will allow DFM to use our platform for a flat fee till a particular date. Upon successful delivery and implementation of the project, the product pricing will switch to an annual, SaaS based pricing model.
“Partnering with DFM Foods presents a great opportunity to expand DeepSpatial’s footprint in the Indian ecosystem. As leading provider of snacking products in India, DFM has the potential to incrementally benefit from the insights that will be generated by integrating their current operations with geolocation intelligence. Our geodemographic profiling feature will allow DFM to expand to newer geographies more aggressively and consolidate their brand in the country,” said Dr. Rahul Kushwah, CEO of DeepSpatial Inc.
Caution regarding Forward Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Below this is our hidden Collection List that holds our Collection Items. You see a text-only list on this published page, but the list should be hidden on your implementation.
One of the items will be identified as our 'previous' item.
One of the items will be identified as our 'next' item.
We will use our 'contentId' to identify which template we are on. Our 'contentId' in the blog post above and the 'contentId' in the hidden list below will be matched.
Based on the 'Order' we set for the list below, Previous and Next will be identified and 'pasted' into the above targets. Sweeeeet!
The images below are hidden on the page via display: none in page settings <head>. The loadImages option will only load the images for the previous and next posts.