One of the leading AI and advanced analytics companies, Fractal Analytics, founded in 2000 has made it to the unicorn club in the first week of 2022 by signing an investment agreement of US$360 million with the Global private equity firm TPG Capital Asia to provide a user-focused, decision backward approach to solving problems.
The Global AI industry has been growing steadily in recent times, aiming for a CAGR of 33.6 percent from 2021 to 2028 and reach at $360.36 billion by 2028. Considering AI to be an indispensable part of the digital era and its widespread use across various sectors, one of the leading AI and advanced analytics companies, Fractal Analytics, founded in 2000 has made it to the unicorn club in the first week of 2022.
Apax Partners-backed Fractal Analytics signed an investment agreement of US$360 million with the Global private equity firm, TPG Capital Asia to provide a user-focused, decision backward approach to solving problems. The company deals in products like Crux intelligence, a platform that helps in strategic decisions, Qure.ai, helpful for radiologists during diagnostics. Some other products like Samya.ai for providing solutions on revenue growth management, Senseforth.ai that automates customer interactions, Theremin.ai that helps in investment decisions, and Eugenie.ai, an anomalies finder in high-velocity data.
Fractal chief strategy officer, Satish Raman said, “Over the past two decades, Fractal has been able to define itself as not just an IT-specific sale or tool, but as a go-to resource for any C-Suite technology decision-maker that is looking to make their operations more efficient, agile and informed.”
The company’s founders Pranay Agrawal, Ramakrishna Redd, Srikanth Velamakanni, Nirmal Palaparthi, and Pradeep Suryanarayan aim to provide artificial intelligence and advanced analytics solutions like forecasting, promotion optimization services, marketing analytics, consumer insights, and pricing to Fortune 500 companies with their startup, Fractal Analytics.
In an interview, Srikanth Velamakanni said, “It is not the need of today or tomorrow. It is the need of the day after tomorrow,” focusing on the trend of quantum computing that will make its way in the long term. To be ready for the day after tomorrow, Fractal Analytics is looking forward to investing in various sectors such as healthcare, finance, supply chain, and logistics, where quantum computing is an essential requirement. Also, it is collaborating with AWS to achieve its vision of creating a world-class Quantum Computing Centre of Excellence (CoE).