Fractal Analytics, an AI company, has raised $170 million (about ₹1,461 crore). This makes the company worth $2.44 billion (₹20,978 crore). The money came from selling 6% of its shares by its old investor, Apax Partners.
22 investors joined the deal, including Trust Investment Advisors, White Oak Capital, Gaja Capital, and Neo Asset Management.
Fractal Analytics is now planning to launch an IPO (public offering) to raise $400–$500 million. This could make the company’s value grow to nearly $3 billion.
Analytics has chosen Morgan Stanley, Kotak Securities, and Axis Securities to help with its IPO. The company is expected to file the necessary papers with the market regulator soon.
The IPO will include both new shares and some shares sold by current investors who want to reduce their stake.
Sources say the new money raised will be used to grow Fractal’s generative AI services, increase research and development, expand into new countries, and pay off some of its loans.
Fractal Analytics was started in 2000 by Srikanth Velamakanni and Pranay Agrawal. The company works in areas like computer vision, machine learning, quantum computing, smart automation, and conversational AI.
Most of its income comes from the U.S. (70%), followed by Europe (20%), and other regions like Australia, the Middle East, and India (10%).
Fractal began using generative AI with tools like Flyfish (a digital sales advisor), Fractal GPT (a chatbot), and Arya (a data science assistant).
Recently, it created Kalaido.ai—India’s first text-to-image AI model. It can turn text into high-quality pictures in English and Indian languages. The launch is planned in two weeks.
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