Records LKR 60 Mln in revenues by end-2024
Pivots to AI-powered diagramming for future growth
Jaffna-based 3axislabs is expanding its Sri Lankan operations to meet growing international demand for its services. Having successfully delivered almost 50 projects to date for clients in the USA, UK, Canada, Australia, Switzerland, Finland and other countries, the firm is planning to increase its staff total to 50 in the near term, while also expanding its offices to accommodate them. Prompted by a surge in the company’s revenues to LKR 60 Mn in 2024, 3axislabs’ growth follows a chaotic spell experienced during its 2021 start amid the COVID-19 era.
According to 3axislabs Co-Founder and CEO Mr. Prasanth Subendran; “After exhaustive efforts hustling to keep afloat during COVID-19, we have now seen substantial year-on-year growth, resulting in our rapid expansion to 15 team members recently. We believe this will continue with our new foray into product development with MindMap AI, a very promising initiative that requires our team to expand again very soon. Additionally, we are also excited about our role in helping create an IT hub in the North, since our US dollar earnings benefit Sri Lanka directly, with about 80 percent trickling down to staff and suppliers, along with surrounding communities.”
Alongside the planned expansion to its service delivery infrastructure, the company has also taken its first steps into product development, with the recent launch of a mind-mapping tool utilizing generative AI. This note-taking, brainstorming and planning tool, which is aimed at professionals at the initial stages of projects, uses AI to more easily and quickly create a visual mind map to facilitate a better understanding of existing information, also leading to idea generation, etc. 3Axislabs’ MindMap AI has already seen impressive organic growth due to it being quicker and more user-friendly than more traditional mind-mapping software options, sometimes as much as 10 times faster per user reviews.
This AI-powered tool currently receives over 1,500 visits per day purely through organic reach, with about 70 from every 100 visitors eventually signing up. Overall, MindMap AI has quickly grown to over 100,000 registered users, all achieved without paid campaigns. Try out MindMap AI by visiting https://mindmapai.app/.
Mr Subendran added, “As startup and tech veterans with over 10 years each in the local eco-system, my co-founders and I have made it our mission to increase high-quality IT jobs in the North and East, to help limit the brain drain from those moving abroad. We have been very fortunate in attracting IT talent from not just Jaffna, but also Trincomalee, Chilaw, Pollonaruwa, Badulla, Ratnapura, etc. All over, really.
And this has helped us establish a highly diversified and experienced team. Further, our proximity to the University of Jaffna has enabled us to quickly scale- and skill up when needed, while also allowing these graduates to stay close to their families. At the same time, our next stage of evolution, as a product development company, is opening up opportunities for potential investors to join us in creating next-gen products like MindMap AI, based on wholly new technologies, which are currently working their way through our go-to-market pipeline.”
Photo caption:
3axislabs Co-Founders (from left) Mr. Prasanth Subendran. Mr. Saahithyan Vigneswaran and Mr. Jestan Nirojan Jeyapalan.
