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RedCloud Signs Up to $120M India Joint Venture, to Deploy Its RAID Engine Into FMCG, Apparel and Footwear Categories

RCT
  • RedCloud Holdings plc has signed a joint venture and twenty-year licensing agreement with Dheer Marketing India to deploy its RedAI infrastructure across India.
  • The agreement carries a total potential value of up to $120 million, structured as a $6 million annual license fee plus a share of profits generated by RedAI in India.
  • The new joint venture, RedCloud India Private Limited, will be headquartered in New Delhi with RedCloud holding 51% ownership and Dheer Marketing India holding 49%.
  • This partnership marks RedCloud's first commercial deployment in Asia and extends RedAI's use beyond the FMCG sector into the apparel and footwear categories.
  • The combined addressable consumer-goods opportunity in India for the venture exceeds $564 billion across FMCG, apparel, and footwear markets.
  • RedCloud's total contracted joint venture infrastructure revenue now stands at up to $200 million following this deal and two prior agreements in Türkiye and Saudi Arabia.
  • The venture aims to leverage RedAI to address inefficiencies in India's retail base of over 13 million kirana stores while serving an expanding middle class.
  • Dheer Marketing India brings an established national distribution network representing major global brands including Adidas, Samsung, Sony, and Raymond.
  • The joint venture is subject to customary regulatory approvals in India, including those under the Foreign Exchange Management Act, 1999.