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Fractal invests ₹172 in AI-powered venture Asper.AI
Inshorts
·
4m ago
Medial
SaaS unicorn Fractal has announced a strategic investment of ₹172 crore in its in-house AI-driven supply chain management platform Asper.AI. In a statement, Fractal said that the funding will enable Asper.AI to scale up product development, expand enterprise customer base across the globe and power its next phase of growth.
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Fractal Analytics raises $170 Mn via secondary sale
Entrackr
·
24d ago
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.
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TPG-backed Fractal Analytics brings back AI firm Eugenie into its fold
VCCircle
·
1y ago
Medial
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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How AI Is Helping SaaS Unicorn Fractal Streamline Hiring Process
Inc42
·
1y ago
Medial
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.
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Fractal bets on agentic AI to drive revenue
Livemint
·
5m ago
Medial
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.
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How Fractal, India’s first AI unicorn, is prepping for the next race
Livemint
·
1y ago
Medial
Indian artificial intelligence (AI) firm Fractal Analytics has become India's first AI unicorn, with a valuation of over $1 billion. The company recently received a $350 million investment from TPG Capital Asia. Fractal Analytics currently has over $300 million in revenue and operates in 17 global locations with over 4,600 employees. The company focuses on providing AI-based products and solutions in the data analytics space and is ranked eighth among its competitors by data intelligence platform Tracxn. Fractal has experienced a long journey to success, including a near-death experience when two co-founders left to start a rival company.
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Fractal AI says this new generative AI tool will make online shopping more targeted
Money Control
·
2y ago
Medial
Fractal AI has launched a customizable eCommerce user experience (UX) tool that utilizes generative artificial intelligence (AI). The tool enables businesses to enhance their online shopping platforms by generating unique design layouts and recommendations based on user preferences. By leveraging AI technology, Fractal AI aims to provide a personalized and engaging shopping experience, ultimately improving customer satisfaction and boosting conversions for eCommerce businesses.
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IPO-bound AI company Fractal bags $170 million at $2.44 billion valuation - The Economic Times
Economic Times
·
24d ago
Medial
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.
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TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs
VCCircle
·
1y ago
Medial
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.
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As growth moderates, Fractal banks on AI boom
Livemint
·
1y ago
Medial
Fractal Analytics, a software-as-a-service platform, anticipates growth driven by the global adoption of artificial intelligence (AI), despite moderated revenues last year due to economic conditions. While businesses are cautious about AI implementation, the company expects an increase in AI-driven revenue as companies worldwide seek to automate their operations and enhance efficiency. Fractal Analytics reported a 55.5% rise in total revenues in FY23 to INR 2,043 crore ($275 million) and aims to go public by the end of this year. It serves over 150 Fortune 500 companies and offers AI-driven data solutions.
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SoftBank Launches SB TEMPUS AI Healthcare JV, Invests
deepnewz
·
1y ago
Medial
SoftBank has launched a joint venture with Tempus AI called SB TEMPUS to analyze personal medical data using AI and provide personalized treatment recommendations. SoftBank has invested $200 million in Tempus AI ahead of its IPO on Nasdaq and has also invested between $10 million and $20 million in AI search startup Perplexity, valuing it at $3 billion. This move demonstrates SoftBank's commitment to integrating AI into healthcare and supporting innovative AI technologies.
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