Fractal Analytics, a global AI and advanced analytics leader, has raised $170 million (approx. ₹1,461 crore) through a secondary share sale, pushing the company’s valuation to $2.44 billion.
The transaction saw Apax Partners partially exit its stake, selling 6% to a group of 22 investors, including Trust Investment Advisors and others. The capital raised will be used to accelerate R&D, expand generative AI capabilities globally, and pre-pay existing debt.
This development comes at a strategic inflection point, as Fractal prepares for a $400–$500 million IPO at a target valuation of around $3 billion. The company has appointed Morgan Stanley, Kotak Securities, and Axis Securities as lead bankers and is in the process of preparing its draft red herring prospectus (DRHP).
AI Innovation and Global Growth
Co-founded by Srikanth Velamakanni and Pranay Agrawal, Fractal has established itself as a pioneer in AI, machine learning, quantum computing, and cognitive automation, with a strong presence across 18 global locations and over 5,000 employees.
The company derives 70% of its revenue from the U.S. market, underscoring its international dominance. In FY24, Fractal’s India entity posted ₹2,196 crore in revenue with a net loss of ₹54.7 crore, reflecting ongoing investments in innovation and global scale-up.
Fractal has also made significant inroads into Generative AI, with products such as:
- Fractal GPT – a domain-specific generative AI platform
- Flyfish – a digital sales advisor
- Arya – a data science automation agent
- Kalaido.ai – India’s first multilingual text-to-image model, launched in 2024
In March 2025, the company invested $20 million in Asper.ai, a vertical AI platform built for consumer goods and manufacturing enterprises.
Strong Backing and Unicorn Status
With this round, Fractal’s total funding has reached approximately $855 million. The company became a unicorn following a $360 million funding round, with continued support from strategic and institutional investors.
As Fractal advances toward its IPO, it is doubling down on deep tech, GenAI research, and enterprise-ready AI products, aiming to cement its position as a global leader in AI-driven digital transformation.
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