Fractal Analytics Raises USD 170 Mn in Secondary Sale
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Fractal Analytics, a global provider of artificial intelligence and advanced analytics solutions, has secured USD 170 million through a secondary share sale. The transaction values the company at USD 2.44 billion.
According to a report by the Economic Times, Apax Partners sold 6 percent of its stake to 22 investors, including Trust Investment Advisors.
This development comes as Fractal prepares for its initial public offering, aiming to raise between USD 400 million and USD 500 million at a projected valuation of USD 3 billion. The company has appointed Morgan Stanley, Kotak Securities, and Axis Securities to manage the public issue and is working towards filing its draft red herring prospectus.
Founded by Srikanth Velamakanni and Pranay Agrawal, Fractal has emerged as a global player in areas such as machine learning, computer vision, quantum computing, and cognitive automation. Nearly 70 percent of its revenue is generated from the United States.
Fractal recently expanded into the Generative AI segment with products including Fractal GPT, Flyfish (a digital sales advisor), and Arya (a data science agent). It also launched Kalaido.ai in 2024, India's first multilingual text-to-image model.
Earlier this year, the company invested USD 20 million in Asper.ai, a platform focused on driving growth for consumer goods and manufacturing sectors.
To date, Fractal has raised approximately USD 855 million, including a USD 360 million round that led to its unicorn status. In fiscal year 2024, the company's Indian unit reported revenue of INR 2,196 crore and a loss of INR 54.7 crore.
Fractal employs over 5,000 people across 18 countries, including the USA, UK, India, Singapore, and Australia.
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