VMPL

New Delhi [India] / Nicosia [Cyprus], May 21: Saptang Labs Pvt. Ltd., an Indian deep-tech company specialising in AI-driven cyber intelligence and a subsidiary of Shadgunya Technologies Pvt. Ltd., today announced the signing of a Memorandum of Understanding (MoU) with ChannelIT Limited, a Cyprus-headquartered technology company. The MoU was signed on 21 May 2026 as part of the official engagements surrounding the State Visit of His Excellency Mr. Nikos Christodoulides, President of the Republic of Cyprus, to India from 20 to 23 May 2026.

The agreement was executed by Mr. BVS Saikrishna, Director & CEO, Saptang Labs, and Mr. Christoforos Christofi, Chief Executive Officer, ChannelIT Limited, in the presence of senior representatives of the Government of India, the Republic of Cyprus, and Indian and Cypriot industry leaders. The signing was facilitated with the kind support of the High Commission of India in Nicosia, led by H.E. Mr. Manish, High Commissioner of India to the Republic of Cyprus.

A milestone moment in the India-Cyprus partnership

The Saptang Labs-ChannelIT MoU is among the industry-led outcomes of President Christodoulides' State Visit, which is anchored around the India-Middle East-Europe Economic Corridor (IMEC) and the Joint Action Plan signed in June 2025. With Cyprus currently holding the Presidency of the Council of the European Union for the first half of 2026, the visit and its accompanying agreements are widely seen as deepening political, economic and technology cooperation between India and the European Union through one of its strategically positioned member states.

Under the MoU, Saptang Labs and ChannelIT will establish a framework for cooperation across software products, technology services, digital platforms and related business initiatives -- including joint marketing, joint bidding for commercial opportunities, technical collaboration, product integration and mutual business referrals across India, Cyprus, the European Union and the wider Mediterranean and MEA region.

Accelerating Saptang Labs' European and MEA expansion

For Saptang Labs, the partnership represents a defining step in its international growth strategy. The company's AI-native platforms -- including BlackFence (external threat intelligence and fraud prevention), Nexus (network intelligence for telecom-scale environments) and its broader Proactive Threat Defence suite -- are already deployed across India's telecom backbone, leading financial institutions, central forensic laboratories and government enterprises. The Cyprus partnership extends that footprint into the European Union and the Mediterranean-MEA corridor through a locally trusted partner.

'Signing this MoU during the historic State Visit of the President of Cyprus to India is a moment of great pride for Saptang Labs and for the Shadgunya group. Cyprus sits at a unique intersection of Europe, the Middle East and North Africa, and ChannelIT brings the regional relationships, delivery capability and market understanding that turn a strong product into a trusted local offering. This partnership lets us serve enterprises and institutions across the region with Saptang's AI-driven proactive threat-defence platforms, delivered with on-the-ground partnership -- and it builds, in a tangible way, on the bilateral momentum created by the India-Cyprus partnership.'

-- Mr. BVS Saikrishna, Director & CEO, Saptang Labs Pvt. Ltd.

A new chapter for ChannelIT's technology portfolio

For ChannelIT, the collaboration brings access to a portfolio of enterprise-grade, AI-driven cybersecurity and intelligence platforms increasingly relevant to banks, telecom operators, regulated industries and public institutions across Cyprus and the broader region. The partnership also opens pathways for joint product development and integration with ChannelIT's existing technology services and digital platforms.

'Our customers across Cyprus and the region are looking for cybersecurity solutions that are sovereign by design, AI-native, and proven at scale. Saptang's platforms meet that brief -- and partnering with a company that has been validated inside some of the most demanding operational environments in India gives our clients a credible new option. Signing this MoU in the presence of our President and during such a significant moment in Cyprus-India relations underscores our long-term commitment to this partnership.'

-- Mr. Christoforos Christofi, Chief Executive Officer, ChannelIT Limited

Scope of cooperation

Under the MoU, Saptang Labs and ChannelIT will work together on:

- Joint marketing initiatives across India, Cyprus and the wider EU-Mediterranean-MEA region;

- Joint bidding and participation in commercial opportunities with enterprise and public-sector customers;

- Technical collaboration and product integration across the parties' platforms and services;

- Mutual business referrals and structured introductions to customers, partners and ecosystem stakeholders.

The MoU is initially valid for twelve months from the effective date, extendable by mutual consent, and is intended to serve as the foundation for one or more definitive commercial agreements between the parties.

Saptang Labs and ChannelIT extend their sincere appreciation to the Government of India, the Government of the Republic of Cyprus, the High Commission of India in Nicosia, the High Commission of the Republic of Cyprus in New Delhi, and the bilateral chambers of commerce for their guidance and facilitation of the partnership.

About Saptang Labs

Saptang Labs Pvt. Ltd. is a DPIIT-recognised Indian deep-tech company building AI-native platforms for cyber intelligence, fraud prevention and large-scale threat analytics. Its products -- including BlackFence, Nexus and the broader Proactive Threat Defence suite -- are deployed across India's telecom backbone, financial institutions, central forensic laboratories and government enterprises. Saptang Labs is a subsidiary of Shadgunya Technologies Pvt. Ltd., a deep-tech group that also operates Pinaca Technologies (sovereign AI for government, defence and law enforcement) and the Trisakha Foundation (social impact).

Learn more: www.saptanglabs.com

About ChannelIT Limited

ChannelIT Limited is a Cyprus-headquartered technology company (registered in the Republic of Cyprus, company number HE35307) with offices at Nikis & 2, Kastoros Street, Nicosia 1087, Cyprus. ChannelIT empowers organisations to thrive in a digital-first world -- bridging innovation and expertise to deliver tailored infrastructure and cybersecurity solutions that drive business growth across Cyprus and the wider European and Mediterranean region.

Learn more: www.channel-it.com

Media Contacts

Saptang Labs (India)

Mr. BVS Saikrishna, Director & CEO

[email protected]

+91 72919 38347

ChannelIT Limited (Cyprus)

Mr. Christoforos Christofi, Chief Executive Officer

[email protected]

T: +357 22 256 811 | M: +357 99 448 906

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