Fractal becomes unicorn post $360 million round of funding
- ByTejika Bajaj | January 7, 2022
AI and analytics solution provider startup Fractal has recently raised a sum of $360 million in a funding round led by TPG Capital Asia. The transaction includes a combination of primary investment and a secondary share purchase from funds which have been advised by Apax Partners.
While the startup is in talks for the fundraising, the transaction is yet to be closed. As per the company, the transaction should be completed by the first quarter of 2022 and the investment would help enhance its ability to scale as well as meet the rising demand globally.
Though the startup hasn’t revealed the post money valuation, sources reveal that over the current round of funding will value the startup at over $1 billion. Till date, the company has raised a sum of $685 million in funding.
Founded by Srikanth Velamakanni and Pranay Agrawal, Fractal’s is one of the most prominent players in the Artificial Intelligence space and its customers include Google, Reckitt Benckiser Group Plc and Wells Fargo & Co. The company has offices in Mumbai and New York and has more than 3,500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.
After MuSigma, Fractal has become the second Indian origin startup to become a unicorn in the analytics segment. Fractal has also become the second unicorn of 2021.
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