Nepali’s company to be listed in NASDAQ

KATHMANDU, JANUARY 24: The Fusemachines Inc., a company set up by an entrepreneur of Nepali origin, Dr Sameer Maskey, is set to be listed on the US Stock Exchange-NASDAQ. The company recently entered into a definitive agreement for a merger with CSLM Acquisition Corp, paving the path for the AI solutions provider enterprise to debut on the prestigious stock exchange NASDAQ.

Following the merger, the company’s equity valuation is estimated to be worth USD 200 million, according to Dr. Maskey, CEO of the Company. It will be a publicly traded company on the NASDAQ under the name ‘Fuse’, he said, adding that the deal for business combination with the CSLM Acquisition Corp is expected to be carried out at the end of the second quarter of fiscal year 2024.

The board members of both companies have already approved the deal and it will be listed on NASDAQ following the approval of stakeholders and the fulfilment legal process. Dr. Maskey, who is also an Associate Professor at Columbia University, established Fusemachines in 2013. Headquartered in New York of the USA, his company is currently operating across Nepal, Canada and the USA.

Of the total 450 employees working in the Fusemachines, 350 were from Nepal and they were mostly outsourcing from Nepal, he said. Talking to RSS, he said, “It is a significant milestone for the company to be listed in the NASDAQ and become a publicly traded company. I am confident that the company after partnership with the CSLM would take a leap in the sector of Artificial Intelligence in future.”