Fractal Analytics Ltd. is a provider of artificial intelligence and analytics services that has filed for a Rs 4,900-crore initial public offering. This makes it the first AI-focused firm to raise funds through an IPO.
While this is the first AI-focused company to file its papers for IPO, other tech companies are already waiting for approval from SEBI. These include companies like Capillary Technologies Ltd.
Founded in 2000, Fractal Analytics is a pure-play enterprise data, analytics and AI company with capabilities across the data, analytics and AI value chain.
The tech company was founded by five graduates of the Indian Institute of Management, Ahmedabad. Of the five, three of the founders have exited the group, leaving Group Chief Executive Officer Srikanth Velamakanni and Fractal CEO Pranay Agrawal to manage the organisation.
The company entered the unicorn club in 2022 after it raised $360 million from TPG Capital Asia after it secured $855 million in funding.
The company's domain expertise spans across focus industries of consumer packaged goods and retail, technology, media and telecom, healthcare and life sciences and banking, financial services and insurance. The company has also partnered with OpenAI, using its models to build generative AI solutions.
Fractal Analytics has also submitted bids to develop an indigenous health-care large language model as well as a large reasoning model under the IndiaAI Mission, a government initiative to help develop homegrown AI technologies.
In FY25, the company served 113 multinational companies, including Citibank, Costco, Franklin Templeton, Nestlé and Philips, besides a majority of the “magnificent seven” companies (Apple, Microsoft, Amazon, Alphabet, Meta, Tesla and Nvidia), as per the DRHP.
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