Fusemachines Gears Up for NASDAQ Debut with $200M Valuation via CSLM Merger

The Deal: Fusemachines, an enterprise AI solutions provider founded in 2013, is set to go public through a business combination with CSLM Acquisition Corp. The transaction values the combined entity at $200 million, with listing expected on NASDAQ under ticker “FUSE” by end of Q2 2024.

Why It Matters: This marks a significant milestone for the AI-focused company. Backed by products like AI Studio and AI Engines, plus a global talent network from its flagship AI Fellowship programs, Fusemachines has spent over a decade helping enterprises tackle complex challenges through cutting-edge AI solutions. The move provides much-needed capital and market access to accelerate growth and expand operations globally.

The Players: Dr. Sameer Maskey, an Adjunct Associate Professor at Columbia University and former IBM Watson Research Center contributor, founded and leads Fusemachines. The company already counts established names like TIME and OTG among its satisfied customer base. Charles Cassel, CEO and CFO of CSLM, emphasized the partnership’s appeal: “Fusemachines’ cutting-edge AI engine development for US and developed market enterprises, combined with significant operations in Nepal, perfectly embodies the high-growth opportunities we see in frontier and emerging markets.”

Capital Infusion: CSLM affiliates are committing up to $19.44 million through a mix of PIPE financing and pre-closing investment to cover working capital needs. The additional financial flexibility aims to fuel product improvements and geographic expansion across Asia, Canada, USA, and Latin America—areas where Fusemachines already maintains operations.

What’s Next: Board approval is locked in from both sides. The deal is now subject to stockholder votes and standard regulatory clearances. Once closed, the newly public Fusemachines will be positioned to lead efforts in democratizing AI access across industries while maintaining its headquarters in New York.