Fractal Analytics, a provider of AI to Fortune 500 clients, received a USD200m minority investment from Funds advised by Apax Partners.
The transaction, which consists of a secondary stake acquired from existing shareholders and a primary investment into the business, is expected to close by February 2019.
The company will use the funds to accelerate growth, both organically and through M&A, and to invest further in AI products and research.
Founded in 2000 by Srikanth Velamakanni, Co-founder, Group Chief Executive and Executive Vice-Chairman, and Pranay Agrawal, CEO, Fractal Analytics is a strategic analytics and AI solutions company serving Fortune 500 companies globally.
Within its ecosystem across industries, Fractal has built several AI product startups, including:
– Qure.ai to help radiologists make diagnostics’ decisions.
– Cuddle.ai to help executives make tactical and operational decisions.
– Trial Run to improve strategic and operational decisions.
Fractal has more than 1,200 consultants spread across 15 global locations including the United States, UK and India.