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Fractal Analytics raises $170 Mn via secondary sale

EntrackrEntrackr · 1m ago
Fractal Analytics raises $170 Mn via secondary sale
Medial

Fractal Analytics, an AI and advanced analytics solutions provider, has raised $170 million (around Rs 1,461 crore) through a secondary share sale, valuing the company at $2.44 billion. According to ET, Apax Partners exited part of its holding in Fractal by selling 6% to 22 investors, including Trust Investment Advisors and others. The proceeds will be used to fuel R&D, global GenAI expansion, and debt pre-payment. The development comes as Fractal prepares for an IPO to raise $400–$500 million at a valuation of around $3 billion. The company has appointed Morgan Stanley, Kotak Securities, and Axis Securities as its IPO bankers and is preparing to file its draft red herring prospectus (DRHP). Founded by Srikanth Velamakanni and Pranay Agrawal, Fractal has grown into a global leader in AI, machine learning, computer vision, quantum computing, and cognitive automation, with 70% of its revenue from the US. Fractal recently entered the Generative AI space with offerings like Fractal GPT, Flyfish (a digital sales advisor), and Arya (a data science agent). It also introduced Kalaido.ai, India’s first multilingual text-to-image model, launched in 2024. In March this year, Fractal invested $20 million in one of its product companies, Asper.ai, a purpose-built AI for growth platform for consumer goods and manufacturing. Fractal has raised around $855 million to date including a $360 million round, where the Srikanth Velamakanni and Pranay Agrawal-led company turned unicorn. For the fiscal year ended March 2024 (FY24), Fractal's Indian entity reported revenue of Rs 2,196 crore and a loss of Rs 54.7 crore. It currently has over 5,000 employees across 18 global locations, including the USA, Canada, UK, Netherlands, Ukraine, India, Singapore, South Africa, UAE, and Australia.

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 1m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

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