One of India’s largest analytics firms Fractal Analytics could soon be valued at $400 million. According to news reports, British private equity firm Apax Partners is in talks to pick up a majority stake in Fractal Analytics, making it one of the biggest shareholders in the analytics company. Reports hint that Fractal Analytics is in talks to raise around $200 million from Apax Partners.
As the company strives to become a market leader in analytics in India and globally, the investment from Apax Partners will be used to speed up growth and also make it one of the most well-funded AI and analytics service providers in India. The investment from Apax is in the line of backing cutting-edge technology companies.
Fractal Analytics is founded by Srikanth Velamakanni and Pranay Agarwal and provides analytics and AI solutions to some of the world’s leading companies. Since its inception, the company has worked with several Fortune 500 companies across the domain in areas such as retail and financial services. Headquartered in Mumbai, the company has more than 1200 employees working from 15 office locations.
Earlier in March, India’s second-largest analytics company also acquired Final Mile to strengthen its strategy consulting capabilities. Final Mile provides behavioural sciences to understand decision-making and influence consumer behavior. The company founded in 2008 by Bjiu Dominic leverages cognitive neuroscience to drive better decisions. In 2017, the company acquired Chicago-based firm called 4i to beef up its business consulting expertise and also benefit from foresight analytics approach. In addition to this, Fractal Analytics is also funding healthcare startup Qure.ai, that is building Deep Learning products for radiology.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.