Data analytics company Fractal Analytics has raised $100 Mn (INR 667 Cr) from Malaysian sovereign wealth fund Khazanah Nasional Berhad. This has valued the company at close to $300 Mn (INR 2,000 Cr).
Fractal Analytics was founded in 2000 by a five-member team including IIM Ahmedabad alumni Srikanth Velamakanni and Pranay Agrawal, along with Nirmal Palaparthi, Pradeep Suryanarayan, and Ramakrishna Reddy. Nirmal Palaparthi had quit Fractal in 2012 and launched mobile Big-Data startup Mobius Innovations, which was acquired by Fractal in 2015.
Fractal Analytics helps consumer companies, retailers and financial institutions understand and influence customer behaviour and manage their marketing, sales and supply chain. With offices worldwide in London, Mumbai, New Delhi, Singapore and Dubai, Fractal caters to the clients in over 100 countries. Its flagship product ‘Customer Genomics’ is aimed at helping marketers learn complex customer behaviour at an individual level.
In a statement, the company said that with the newly raised capital, it is looking to embark on an aggressive inorganic strategy. It will use the funding to accelerate its growth and invest in areas of artificial intelligence (AI). Fractal counts multi-nationals like Franklin Templeton Investments, P&G, Kimberly Clark, Microsoft and Philips as its clients.
Srikanth Velamakanni, co-founder of Fractal Analytics said, “There is a revolution underway in advanced analytics, deep learning and visual storytelling. Analytics as we define it may get transformed and the investment from Khazanah will help us invest further in our AI & deep-learning-based software stack.”
Prior to this, Fractal had raised funding three years back in June 2013, worth $25 Mn from private equity investor TA Associates.
The development was reported by ET.
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