CAMBRIDGE, Mass. — Vyome Holdings, Inc. said its subsidiary, LiveChain, Inc., has executed a binding letter of intent with Remus Capital that would place LiveChain in control of the Humanyze brand, intellectual property, and related know-how, as the company begins building a scalable, standalone business.
The proposed transaction would involve LiveChain acquiring a senior secured convertible note issued by Sociometric Solutions, Inc., doing business as Humanyze, an AI-enabled human resources data and analytics company incubated at MIT. Remus Capital, an AI-focused venture capital firm, currently holds the note.
Under the terms outlined in the letter of intent, LiveChain would issue shares of its common stock valued at approximately $325,000 in exchange for the note. Upon completion, LiveChain would become Humanyze’s senior secured creditor, with the note backed by a lien on all of Humanyze’s intellectual property and trade secrets.
Vyome said its board recently completed a review of strategic alternatives for LiveChain and identified the proposed transaction as an initial step toward creating a financially self-sufficient and independent business capable of generating long-term shareholder value.
“One of our immediate objectives as the Board of Directors of Vyome was to find a way to create value from LiveChain, as we promised LiveChain and Vyome shareholders,” said Venkat Nelabhotla, a board member of LiveChain and chief executive officer of Vyome. “We evaluated multiple options, but this path is the first step of a plan that could enable LiveChain to become self-sufficient financially and build a scalable independent business that could generate significant value for shareholders.”
Nelabhotla said Humanyze is addressing major challenges facing large enterprises related to human capital management, including the cost of developing, retaining, and rewarding employees in the most efficient way possible.
Founded out of MIT research, Humanyze has built one of the world’s largest databases of workplace employee interaction data and uses science-based analytics and AI-driven insights to help organizations make continuous improvements that benefit both employees and businesses.
“Humanyze has built a compelling AI-enabled platform that breaks down critical data to give employers clear, actionable insights that optimize many companies’ most valuable resource, their human capital,” said Krishna Gupta, chairman of Vyome. “This optimization is even more critical in an age where humans and AI have to work together in the workplace. We see multiple ways for Humanyze to monetize their offerings, and the market opportunity is quite compelling.”
The letter of intent calls for the parties to enter into definitive agreements within 30 days, with a targeted closing within an additional 45 days, subject to customary closing conditions. Vyome said there can be no assurance that the transaction contemplated by the letter of intent will be completed.
