London and Delhi, June 24, 2026 (GLOBE NEWSWIRE) — RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or the “Company”), the company building intelligent infrastructure for global trade, has signed a joint venture and twenty-year licensing agreement of up to $120 million with Dheer Marketing India, a Delhi-based distribution group, to deploy its RedAI infrastructure (“RedAI”), powered by the RAID (Realtime AI for Distribution) intelligence engine, across India — one of the world’s fastest-growing consumer economies and RedCloud’s first market in Asia.
Transaction Highlights
- Joint venture with twenty-year licensing agreement, up to $120 million in aggregate license value based on revenues and profits generated
- Structured as a $6 million annual license fee plus a share of profits generated by RedAI in India
- RedCloud 51% / Dheer Marketing India 49% ownership; to be incorporated as RedCloud India Private Limited, headquartered in New Delhi
- Combined addressable consumer-goods opportunity in India of over $564 billion across FMCG, apparel and footwear categories
- First commercial deployment of RedAI beyond FMCG; first deployment in Asia
- RedCloud’s third major joint venture; combined contracted JV infrastructure revenue now stands at up to $200 million
Structured at $6 million license fee per year plus a share of profits generated by RedAI within India, the agreement is intended to support the rollout of RedAI across India’s estimated $427 billion FMCG market1, $117 billion apparel market2, and $20 billion footwear market3 — a combined addressable consumer-goods opportunity of over $564 billion. The Company expects the agreement to extend RedAI into adjacent consumer categories for the first time, demonstrating an expansion path beyond the $14.6 trillion global FMCG market4 into broader consumer goods.
The joint venture is expected to be incorporated as RedCloud India Private Limited, with RedCloud holding 51% and Dheer Marketing India holding 49%, subject to receipt of customary regulatory approvals in India. Headquartered in New Delhi, the JV is intended to combine RedCloud’s intelligent trade infrastructure with Dheer’s established Indian distribution network, trading leading consumer footwear and apparel brands.
The Company believes India represents one of the world’s most structurally complex and rapidly developing consumer markets, with a retail base estimated at over 13 million kirana stores5, accelerating digital adoption, and an expanding middle class — dynamics RedCloud believes creates both significant inefficiencies and a uniquely scaled opportunity for AI-driven trade infrastructure.
RedAI’s underlying architecture is designed to be category-agnostic, enabling deployment across FMCG, footwear, apparel and other consumer goods on shared intelligence and trading infrastructure.
This represents RedCloud’s third major license agreement, following the up to $50 million Türkiye joint venture announced in December 2025 and the up to $30 million Saudi Arabia licensing agreement announced in April 2026. RedCloud’s combined contracted license agreement revenue now stands at up to $200 million, recoverable from revenues generated by the respective joint ventures over their contracted terms.
Justin Floyd, CEO and Co-Founder of RedCloud, said, “India is the largest and most consequential consumer market we have entered. With an emerging consumer class in the hundreds of millions of people, a rapidly expanding middle class, and a deeply fragmented retail base, it represents exactly the kind of environment RedAI was built for — high volume, high complexity, and an urgent need for real-time intelligence across the flow of goods.”
“This is also the first deployment in which we expect RedAI to operate across multiple consumer categories. The infrastructure was designed from the outset to power any category where trade decisions need to be made at scale and in real time. Through our partnership with Dheer, we intend to extend RedAI into footwear, apparel and broader consumer goods from day one.”
Lovelesh Goel, Chairman and CEO of Dheer Marketing India, added, “For seventeen years, Dheer has built a national distribution network for global consumer brands — from Adidas to Samsung, Sony, Luxottica and Raymond, across 15 locations in India. India’s retail landscape is changing fast, and we believe the brands and distributors who succeed in the next decade will be those who can act on data at the speed the market demands. RedCloud’s RedAI infrastructure brings exactly that capability. Together with RedCloud, we intend to bring intelligence-led trade to India’s distributors and retailers across every category in which we operate.”
Footnotes:
1. Cognitive Market Research, India FMCG market estimate, 2025.
2. Expert Market Research, India Clothing Market Size, Share & Growth Report 2035, $116.64Bn (2025).
3. IMARC Group / SkyQuest, India Footwear Market, $20.67Bn (2025).
4. Cognitive Market Research, Global FMCG market estimate, 2025.
5. Invest India, Modernization of Kirana Stores in India — ~13 million kirana and neighborhood stores.
About RedCloud
RedCloud’s mission is to build the intelligence infrastructure of global trade, through generation and aggregation of proprietary trading and market data from across the FMCG industry through its RedAI infrastructure and associated products (‘RedAI’). RedCloud provides market intelligence based on proprietary trading data across categories in each of its markets. The Company also delivers a trading infrastructure and related products for use by its customers, to enable intelligent digital exchange of everyday consumer supplies of FMCG products across business supply chains, supported by a payments and lending ecosystem intended to streamline trade. RedCloud believes its infrastructure and associated products and services solve a decades-old problem of how to digitize trade at scale to generate data and intelligence to enable brands, distributors and retailers to maximize business performance across categories in high growth consumer markets.
RedCloud is a British company registered in London, co-founded by serial entrepreneur Justin Floyd and Soumaya Hamzaoui. For more information about RedCloud and its RedAI infrastructure, please visit www.redcloudtechnology.com and connect on LinkedIn.
About Dheer Marketing India
Dheer Marketing India (DMI) is a Delhi-headquartered distribution and marketing group representing many multinational consumer brands across India, including Adidas, Rayban, Timex, Samsung, Sony, Raymond, Luxottica and Kent RO. Founded in 2009, the Company operates across 15 locations in India with a workforce of over 200 people. DMI also owns Topflight, a proprietary accessories and equipment brand serving the Indian armed forces.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the expected incorporation of RedCloud India Private Limited, the anticipated deployment and commercial performance of the RedAI infrastructure and the RAID intelligence engine in India, the size and growth of the Indian FMCG, footwear and apparel markets, RedCloud’s combined contracted license infrastructure revenue, and the Company’s ability to successfully extend RedAI into adjacent consumer categories. The annual license fee referenced in this release is contingent on, and recoverable solely from, revenues generated by the joint venture within India; no minimum cash payment is guaranteed and unrecovered amounts carry forward against future revenues. RedCloud’s share of joint venture profits is contingent on the joint venture generating distributable profits after operating costs, license fee recovery, loan repayments and taxes. Forward-looking statements are identified by words such as “expects,” “intends,” “anticipates,” “believes,” “plans,” “may,” “could,” “should,” and similar expressions. Actual results may differ materially from those expressed or implied as a result of risks including, without limitation, delays or failure to obtain required Indian regulatory approvals (including under the Foreign Exchange Management Act, 1999 and from the Competition Commission of India), failure of the joint venture to be incorporated on the terms described, failure to generate revenues at the levels contemplated, and the other risk factors set forth in the Company’s most recent Annual Report on Form 20-F and subsequent filings with the U.S. Securities and Exchange Commission. RedCloud undertakes no obligation to update or revise any forward-looking statements except as required by law.
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