As per a study by AIMResearch, AI and analytics start-ups received $1,108 million in funding in 2021, the highest ever funding in seven years, with a year-over-year growth rate of 32.5 percent. We are just three months into 2022 and have already witnessed massive investments in the analytics and AI space. Let us look at some of the major fundings in 2022 ( till now).
Fractal
Funding received: $360 million
Just at the beginning of the year, US-based AI firm Fractal entered the unicorn club with an investment of $360 million (Rs 2700 crores) from TPG Capital Asia, a private equity firm. The funding will close by the first quarter of 2022. TPG would invest the money in Fractal through TPG Capital Asia, the firm’s Asia-focused private equity platform, in a transaction that includes a combination of primary investment and secondary share purchase from Funds advised by Apax, who will remain a major shareholder following the transaction.
Data Sutram
Funding received:$2.07 million
In February, AI-based location intelligence company Data Sutram raised USD 2.07 million in a funding round led by Varanium Capital and Yatra Angel Network. DMI Finance’s Sparkle Fund, Seeders LLP, White Ventures, IIFL Fintech Fund, and Indian Angel Network participated in the round.
While speaking to Analytics India Magazine, Aisik Paul, the CTO of Data Sutram, informed, “Data Sutram’s AI and ML-driven data engine is a proprietary technology (built in-house) that automatically processes, cleans and catalogues raw and unstructured data in any format, geotags it and combines it together to churn out useful trends and create insights that capture how people live and behave, available for any location up to 100m granularity.”
The startup will use the fresh capital to expand its operations to South East Asia and the Middle East and will also invest in new data sources. In October 2021, it had raised an undisclosed amount.
Atlan
Funding received: $50 million
In March, data collaboration software provider Atlan closed a $50 million Series B round at $450 million led by Salesforce Ventures, Insight Partners, and Sequoia Capital India. Founders in the data space like Taylor Brown (Fivetran), Ajeet Singh (ThoughtSpot founder). Just eight months back, the company had received a $16 million Series A funding led by Insight Partners and angel investors like Bob Muglia, former CEO of Snowflake.
Actyv.ai
Funding received: $5million
In February, AI-powered Enterprise SaaS platform Actyv.ai raised $5 million in a pre-series A funding round from Dubai-based 1Digi Investment management firm, the family office of Raghunath Subramanian, Global CEO, Actyv.ai. It plans to use the money to scale and expand globally.
Raghunath said that the company’s immediate focus will be to onboard globally, top-tier talent across R&D, Product Management & Engineering, Sales & Marketing/Business Development and Corporate Development across India (Multi-location), Singapore, London, Dubai and Eastern Europe.
Locofy.ai
Funding received: $3million
In March, enterprise software company Locofy.ai raised $3 million in a pre-seed funding round led by Accel, January Capital, Golden Gate Ventures, and Boldcap. Angel investors and tech founders from Ola, Hasura, Holistics, Wego, GajiGesa, 1Bstories, Ohmyhome, CyberSierra, Wekan also participated in the round.
The company said that the funding will be used to increase the engineering and data science teams at the firm. Locofy.ai provides solutions to help developers and designers with its low-code platform that converts designs to production-ready code.
Scribble data
Funding received: $2.2 million
In March, ML feature engineering startup Scribble Data raised USD 2.2 million in seed funding led by Blume Ventures. This round of funding saw participation from Log X Ventures and Sprout Venture Partners, in addition to participation from Vivek N. Gour (former CFO, Genpact) and Ganesh Rao (Partner, Trilegal).
The company said that this round of funding would be used to build a product roadmap and grow its presence in the North American market. The company has a presence in India and Toronto. Scribble Data will also use the new capital towards strengthening its integration with third-party data solutions, like Redis.
The product roadmap for the firm includes a low code consumption interface for teams to access and use features produced on the platform, along with additional apps that bring data teams closer to specific solutions such as money laundering, benchmarking, personalisation etc.
Polestar solutions
Funding received: undisclosed
In January, data analytics and enterprise performance management (EPM) player Polestar Solutions announced that it had raised an undisclosed amount in series-A funding from a US-based strategic investor.
This round of funding will help the firm to create a better foothold in the US market with sales customer success and delivery teams on-ground. During the announcement, the company also revealed that it plans to activate operations in the US by March 2022.
- India’s GCCs to Add 1.4 Million Jobs, Drive 170 Million Sq. Ft. Office Demand by 2031
- AI Can Be Cyborg or Centaur. But Can Enterprises Monetise It?
- AMD’s Server CPU Business Faces a New AI Boom
- How an Engineer Is Using AI to Bridge the Accessible Education Gap
- AI Agents are Making Human Customer Service a Specialist Job
- Why Nandan Nilekani-Backed F2A Believes India's Investment Opportunity Lies in Edge AI