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Fractal Analytics Files DRHP For INR 4,900 Cr IPO

Inc42 · 24d ago

Fractal Analytics Files DRHP For INR 4,900 Cr IPO

Fractal Analytics, an AI-powered SaaS unicorn, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an INR 4,900 crore IPO. The public issue includes a fresh issue of shares worth up to INR 1,279.3 crore and an offer-for-sale (OFS) of up to INR 3,620.7 crore. Private equity firms like Apax Partners and TPG, along with other stakeholders, will offload shares through the OFS. The proceeds will address various financial and operational needs.

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Fractal Bags INR 49 Cr From Cofounder Srikanth Velamakanni

Inc42 · 1m ago

Fractal Bags INR 49 Cr From Cofounder Srikanth Velamakanni

Fractal Analytics' cofounder and CEO, Srikanth Velamakanni, has invested INR 48.7 Cr (approximately $5.6 Mn) into the company. This investment was made to convert his partly paid-up equity shares into fully paid-up ones. Additionally, Fractal recently approved the allotment of 1.32 lakh equity shares to 81 employees under its ESOP scheme. The company is preparing for a public listing, aiming to file its DRHP in August for a $500 Mn IPO.

TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs

VCCircle

VCCircle · 1y ago

TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs

US-based AI and analytics solutions provider, Fractal Analytics, is reportedly reviving plans for an initial public offering (IPO) in India. The company aims to raise over $500 million and is targeting a valuation between $3 billion and $3.5 billion. Fractal Analytics has appointed Kotak Mahindra Bank and Morgan Stanley as advisors for the IPO.

Peak XV-backed Awfis files DRHP, plans to raise INR 160 Cr via fresh share issue

Inc42 · 1y ago

Peak XV-backed Awfis files DRHP, plans to raise INR 160 Cr via fresh share issue

Coworking space provider Awfis, backed by Peak XV Partners, has filed a draft red herring prospectus (DRHP) with SEBI for its IPO. The IPO consists of a fresh issue of INR 160 Cr and an offer-for-sale (OFS) component. Awfis plans to use INR 52.5 Cr from the net proceeds to set up new coworking centers and the remaining INR 68 Cr as working capital. As of June 2023, Awfis had 121 operational centers and reported revenue of INR 545.28 Cr in FY23.

Fractal Analytics raises $170 Mn via secondary sale

Entrackr

Entrackr · 1m ago

Fractal Analytics raises $170 Mn via secondary sale

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.

IPO-bound AI company Fractal bags $170 million at $2.44 billion valuation - The Economic Times

Economic Times

Economic Times · 1m ago

IPO-bound AI company Fractal bags $170 million at $2.44 billion valuation - The Economic Times

Fractal Analytics, an AI analytics firm, raised $170 million, valuing it at $2.44 billion. This includes a 6% equity secondary sale by Apax Partners, with new investors like Trust Investment Advisors and White Oak Capital participating. The company plans a $400-$500 million IPO to potentially value it at $3 billion. Founded in 2000, Fractal operates in AI and machine learning, primarily serving the U.S. market, and intends to expand its generative AI services.

Fractal bets on agentic AI to drive revenue

Livemint

Livemint · 6m ago

Fractal bets on agentic AI to drive revenue

Fractal Analytics is pioneering agentic AI with two projects, Cogentiq and Project Pioneer, aimed at enhancing enterprise productivity and decision-making. Cogentiq, already generating revenue, contributes significantly to Fractal's income, while Project Pioneer will soon launch. Fractal reported a revenue increase in FY24 but experienced a net loss due to strategic stake changes. Recent funding valued Fractal at $2.4 billion, and it plans an IPO to further bolster its AI-driven growth strategy.

How AI Is Helping SaaS Unicorn Fractal Streamline Hiring Process

Inc42 · 1y ago

How AI Is Helping SaaS Unicorn Fractal Streamline Hiring Process

SaaS unicorn Fractal Analytics is using its AI tool Fractal 360 to streamline its hiring process. The tool, built for internal use, helps the startup's hiring teams choose the right questions to ask potential employees. Fractal Analytics claims to hire 2,000 people and screen 400,000 potential employees yearly. The company also employs an AI agent named Dexter to enhance the employee experience. Fractal Analytics' focus on AI intersects with its goal of creating AI products for clients. The Indian government has increased its push for AI adoption, with India's GenAI market projected to reach $17bn by 2030.

AI firm Fractal eyes $400-500 million IPO at $3-billion valuation

Economic Times

Economic Times · 1y ago

AI firm Fractal eyes $400-500 million IPO at $3-billion valuation

Fractal Analytics, an AI and analytics company, has hired Morgan Stanley, Kotak Mahindra Capital, and Axis Capital as bankers for its upcoming IPO. The IPO is estimated to be worth $400-500 million and could value the company at around $3 billion. The draft red herring prospectus is expected to be submitted to SEBI by late September. The IPO will include both primary and secondary share sales, allowing existing investors such as Apax Partners and Khazanah Nasional Berhad to partially sell their stake. The funds raised will be used for expanding the company's GenAI services portfolio, research and development, global expansion, and pre-payment of existing loans. Fractal Analytics, founded in 2000, focuses on AI, machine learning, and computer vision technologies. In FY23, the company generated operating revenues of Rs 1,985.4 crore and recorded a net profit of Rs 194 crore.

Modern Insulators Buys Swiggy Shares Worth INR 5 Cr Ahead Of IPO

Inc42 · 11m ago

Modern Insulators Buys Swiggy Shares Worth INR 5 Cr Ahead Of IPO

Modern Insulators will acquire 1.38 Lakh shares of Swiggy for INR 360 apiece, totaling INR 4.99 Cr. Hindustan Composites recently announced its plan to acquire a 0.01% stake in Swiggy for INR 5.17 Cr. Swiggy is currently preparing to file its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO valued at over $1 billion.

TPG-backed Fractal Analytics brings back AI firm Eugenie into its fold

VCCircle

VCCircle · 1y ago

TPG-backed Fractal Analytics brings back AI firm Eugenie into its fold

Fractal Analytics has announced the merger of artificial intelligence (AI) firm Eugenie AI back into its fold. Fractal Analytics, which is backed by private equity firms TPG and Apax Partners, plans to leverage Eugenie's expertise in climate change and industrial sustainability to expand its portfolio. Eugenie, founded in 2020-21, was previously a subsidiary of Fractal Analytics before being spun off as a separate entity. The merger will give Fractal 100% ownership of Eugenie AI. Financial terms of the transaction were not disclosed.

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